Ample will receive US$31 million for its EV charging solution
Ample, a technology company focused on solving the energy delivery challenge for electric vehicles, has received US$31 million of financing.
Ample, based in San Francisco, aims to utilise autonomous robotics and smart-battery technology to improve EV performance. Ample has created an economical, rapidly deployable and widely accessible platform that delivers a full charge to any electric car in minutes as an alternative to traditional charging.
Shell Ventures led the investment round with participation from Moore Strategic Ventures, Repsol Energy Ventures, Hemi Ventures, and TRIREC.
The financing will be used to deploy Ample’s technology in multiple locations over the coming months. Steve McGrath of Shell Ventures and James McIntyre of Moore Strategic Ventures will also join Ample’s board of directors.
“Building a scalable solution for charging electric vehicles requires a new approach to infrastructure, and partners who are committed to developing electrification as the new energy downstream,” said CEO and co-founder of Ample Khaled Hassounah.
“EVs in the light- and medium-duty sectors are steadily gaining market share,” said investment director of Shell Ventures Steve McGrath. “Combining Ample’s technology with Shell’s existing retail network for re-fueling and our growing position in power could help us achieve our aspirations to grow a large new business in EV energy solutions.”
“We have looked deeply into the electrification ecosystem,” said James McIntyre of Moore Strategic Ventures. “We believe Ample’s proprietary robotics and battery technology solution can help solve one of the largest constraints to wide-scale adoption of electric vehicles. We are excited to partner with the company, Shell Ventures and Repsol Ventures to help make Ample’s vision a reality.”
As governments in Europe, Asia, America and other parts of the world impose tough emissions targets to meet the global climate change commitment, Ample was born out of the need for innovation to rapidly meet those goals.
“As an integrated energy company, we join the growth of the electrification in the mobility sector,” said Luís Casado from Repsol, “and we’re looking forward to Ample’s near-term solution to meet Europe’s goals.”