Korea’s SK Inc. has invested $100 million in North Carolina’s Atom Energy, which goals to improve the electrical automobile charging expertise within the U.S. with new {hardware} and software program, the firms mentioned Thursday.

Based mostly in Huntersville, N.C., eight-year-old Atom Energy has developed a digital circuit breaker that gives extra management, flexibility and reliability to EV charging, particularly for industrial fleet operators and managers of multi-family dwellings, in keeping with CEO Ryan Kennedy.

Atom Energy’s EV pedestal and wall chargers embody an Web-connected digital panel that homes the corporate’s solid-state circuit breakers. The units allow safer charging, the corporate says, as a result of excessive voltage is eradicated on the pedestal or wall field whereas automobiles are usually not charging.

The EV market is “determined for a brand new approach to scale, drive income and speed up adoption,” Kennedy mentioned, including that Atom Energy’s gadget can be utilized in different industries to shift from analog to digital energy supply.

SK mentioned Atom Energy’s core expertise was “the first driver” behind its determination to take a position.

The SK group, Korea’s second-largest conglomerate after Samsung, additionally acquired a further $50 million stake in Atom Energy from earlier buyers, making SK the biggest exterior shareholder.

SK mentioned it intends to increase Atom Energy’s enterprise throughout the U.S. “and finally globally.”

Atom Energy beforehand had raised funds from the company funding arms of Siemens and ABB, in keeping with investor web site PitchBook. The 2 European industrial giants are key gamers in EV charging expertise and methods.

SK has a multibillion-dollar three way partnership with Ford Motor Co. to construct EV batteries in Kentucky and Tennessee, and provides batteries to Volkswagen Group’s U.S. operation from its Georgia plant.