GridPoint has just invested around $120 million in accumulated funds to purchase the V2Green electric car charging facilities and software. The company, GridPoint, specialises in the distribution of software that helps to power multiple generating units, in this case, electric car charging outlets. The software is used to control the distribution of electricity from port to car, and eliminates any risk to the car.

The reason for this purchase was to eliminate electricity grid ‘taxing’, which means that in peak times the number of electric cars that are plugged in to recharge would create a demand for too much electricity, so eventually more electric power plants would need to be built. The V2Green software is designed to assist the already present power grid to cope with all this extra energy that is needed.

It is thought that this kind of high demand on the power grid is not going to become much of an issue until late 2010 or early 2011, which is when most of the new electric cars go into wide distribution. The hype over the poor condition of the O-zone layer and other environmental concerns is thought to push electric car sales to an all time high, making the V2Green a necessity, mainly in the U.S. and China.