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Wallbox Launches Virtual Power Plants in California and New York Through Leap Partnership

via Business Wire

Wallbox (NYSE: WBX), a global provider of electric vehicle (EV) charging and energy management solutions, today announced the launch of its virtual power plants (VPPs) in California and New York, powered by a new partnership with Leap, a leading platform for building and scaling VPPs. The initiative is part of Wallbox Rewards, a newly launched smart charging program that enables Wallbox users to earn incentives by contributing to grid flexibility through their home EV chargers.

The VPPs will aggregate energy capacity from thousands of residential chargers and connect to local energy programs that support the grid using Leap’s platform. By intelligently coordinating when chargers draw power, the VPP functions as a flexible, dispatchable resource that helps utilities manage demand peaks, balance the variability of renewable generation, and improve overall grid stability.

Once enrolled, participating users will allow their chargers to shift charging to times when electricity is cleaner, more affordable, and in lower demand. In return, they gain access to in-app charging insights, feature upgrades, and potential eligibility for performance-based financial incentives through Wallbox Rewards.

The program went live this month in California and New York, with expansion into additional U.S. markets, including Texas, expected later in 2025.

“Launching our first virtual power plants in California and New York marks a major step in scaling the role of EV chargers as flexible grid assets,” said Esteve Dolsa, General Manager North America at Wallbox. “Through our partnership with Leap, we’re connecting Wallbox chargers to energy markets in real time, turning distributed infrastructure into a reliable grid resource. Wallbox Rewards creates a seamless user experience, rewarding them for helping to support grid stability from home.”

Participants will be notified via the Wallbox app when their chargers are contributing to grid events. The more consistently chargers participate, the greater the opportunities for users to access rewards and new grid services as the program evolves.

“Virtual power plants are a critical tool for building a more reliable, affordable, and dynamic grid,” said Christie Dodge, Head of Partner Success at Leap. “EV chargers are uniquely well-suited to serve as flexible grid resources. Through this partnership with Wallbox, we’re unlocking the potential of thousands of residential chargers to support grid stability while delivering value back to everyday drivers.”

The Wallbox Rewards program is part of Wallbox’s broader commitment to build smart energy solutions that go beyond EV charging, helping accelerate the shift toward a more distributed, responsive energy ecosystem.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 100 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com

About Leap

Leap is the leading platform for launching and scaling virtual power plants (VPPs). Through its software-only solution, Leap facilitates fast, easy and automated access to demand response and other grid services revenue streams for the providers of battery storage systems, EV chargers, smart building technologies, and other distributed energy resources (DERs). Managing over 350,000 energy sites and devices across U.S. energy markets, Leap empowers more than 100 technology partners and their customers to unlock new value and help create a more flexible, resilient grid powered by renewable resources. Visit leap.energy to learn more.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox’s future operating results and financial position, long term profitability and costs optimization, business strategy and plans and market opportunity. The words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “focus,” “forecast,” “intend,” “likely,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “”target,” will,” “would” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from geopolitical conflicts; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; occurrence of any public health crisis or similar global events as well as the other important factors discussed under the caption “Risk Factors” in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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