EV charging startup ReadySteadyPlug has received A$1.51 million(US$1.08 million) in funding from the Australian Renewable Energy Agency (ARENA). This money will help speed up the expansion of its EV charging services.
The company plans to install up to 428 electric vehicle charging points. These will mainly be set up in apartments and strata buildings across Australia as part of its Charging-as-a-Service (CaaS) model.
With this funding, along with money from customers and the company itself, the total investment for the nationwide rollout will reach $3.49 million. The goal is to make EV charging more affordable and accessible for apartment residents.
ReadySteadyPlug’s platform allows electric vehicles to be charged using normal power outlets. It works through a smartphone app, which lets users control charging, track usage through cloud-based metering and handle automatic billing. This makes it a simple Level 1 charging option for people living in apartments.
The system also has a feature called Dynamic Load Management. This helps manage electricity use in the building so that the total power demand never goes beyond the building’s maximum capacity, preventing overloads.
“We know that a lack of access to charging infrastructure at home can be a huge barrier to EV uptake for the millions of Australians that live in apartment buildings. Our pay-as-you-go, affordable charging technology and infrastructure changes that, providing an accessible EV charging solution designed specifically for apartment buildings,” said Jukka Sintonen, CEO of ReadySteadyPlug.
“The benefit of ReadySteadyPlug’s approach is that it does not require a large, up-front investment from an Owners Corporation. Residents who don’t want an EV charging point don’t pay for EV charging infrastructure, or for the electricity they don’t use. EV owners can charge at home whenever it suits them, and the Owners Corporation gets reimbursed every quarter for the electricity used. It’s a model that works for the whole building, not just early adopters.”
“We’ve seen a surge of demand from strata complexes recently, and this support from ARENA means we can accelerate the rollout of our solution across Australia. With the recent uptick in EV sales, our solution can ensure Australians living in apartments also have the chance to enjoy the benefits of owning an EV,” said Dean Eislers, CTO of ReadySteadyPlug.
ARENA CEO Darren Miller said the project addresses a crucial gap in Australia’s EV charging network.
“For millions of Australians living in apartments, the absence of simple, affordable charging at home remains a real barrier to electric vehicle adoption,” Mr Miller said.
“ARENA’s funding will help to tackle this challenge by demonstrating solutions that lower the cost and complexity of EV charger installation. This will provide a replicable and scalable blueprint for other strata and apartment communities to follow.”
Founded in 2024, ReadySteadyPlug is a company that helps people charge electric cars, especially those living in apartments or shared buildings. It makes charging simple by allowing users to plug their EVs into regular power outlets in their parking spots instead of needing special charging stations.
The system works through a mobile app. People can start or stop charging from their phone, check how much electricity they are using, and get automatic bills. It also manages the building’s electricity use so the power supply doesn’t get overloaded.
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