Recently, Ample raised $160 million in Series C led by Moore Strategic Ventures. In addition, this funding round also included existing Ample investors like ENEOS and Shell Ventures.
Ample plans to grow further thanks to strategic investments from Momentum Venture Capital (formerly SMRT Ventures) which is Singapore’s public transport operator and a home oil and gas company. Thailand’s largest corporation, PTT is an investor, and also Rose Park Advisors has a stake.
Ample’s total funding now amounts to approximately $230 million – and it clearly has caught the attention of some major economic interests.
The new funds will be used to scale up modular battery swapping technology in the United States and other countries around the world.
Seven years ago, Ample was founded with the aim of building a modular battery swap network that saves time and money. Its mission is to provide an infrastructure solution that scales rapidly, helping electric vehicles and drivers, and charting a concrete path to transition to Renewable Energy.
Ample wants to help drivers who use petroleum products to switch make the jump into electric cars easily. At present, the interest and demand from fleet managers and automakers can easily be seen in Ample’s technology.
The investment will help Ample shorten the time it takes to scale up in the US and internationally, support the global delivery of EV technology, and empower automakers, fleet partners with new battery and power supply technology.
In March of this year, the company launched its stealth mode. Currently, Ample is still working with Uber and plans to expand strategic partnerships in the near future.
Ample has announced a partnership with energy company ENEOS and this new partnership will help Ample expand its influence and bring this technology to Japan.
While EVs do pollute less at the level of the auto, many electrical grids use power sources, like coal, that create massive amounts of pollution. Hopefully, these challenges will be overcome and EVs will transform into a truly green technology.
