© scanrail dreamstime.com Electronics Production | August 14, 2018
Ample secures $31 million in financing round
Ample, a technology company focused on solving the energy delivery challenge for electric cars, says that it has closed a USD 31 million Series A round of financing.
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. “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,” says Khaled Hassounah, CEO and co-founder of Ample, in a press release. Ample claims to have invented an economical, rapidly deployable and widely accessible platform that delivers a full charge to any electric car in minutes. The company uses autonomous robotics and smart-battery technology. “EVs in the light – and medium duty sectors are steadily gaining market share,” says Steve McGrath, Investment Director of Shell Ventures. “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 believe Ample’s proprietary robotics and battery technology solution can help solve one of the largest constraints to wide-scale adoption of electric vehicles,” says James McIntyre of Moore Strategic Ventures.