Business Wire

Ample Secures $31 Million Series A Financing Round

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Ample, a technology company focused on solving the energy delivery challenge for electric cars, co-founded by Khaled Hassounah and John de Souza, announced today that it has closed a $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. Steve McGrath of Shell Ventures and James McIntyre of Moore Strategic Ventures will be joining 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 Khaled Hassounah, CEO and co-founder of Ample.

Ample has invented an economical, rapidly deployable and widely accessible platform that delivers a full charge to any electric car in minutes. An alternative to traditional charging, Ample uses autonomous robotics and smart-battery technology, making it feasible for anyone to own an electric car regardless of driving needs, economic means, or geographic location.

“EVs in the light – and medium duty sectors are steadily gaining market share,” said 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 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.”

About Ample
Ample is a San Francisco based startup co-founded by John de Souza and Khaled Hassounah. It aims to solve the energy delivery challenge for electric transportation by utilizing autonomous robotics and smart-battery technology. Ample has created an economical, rapidly deployable and widely accessible platform that delivers a full charge to any electric car in minutes. Ample aims to make it possible to have “Electric Cars for Everyone”. For more information, contact info@getample.com

About Shell Ventures
Shell Ventures is the corporate venture capital arm of Royal Dutch Shell plc (“Shell”). With major offices in Europe, the USA, and China, Shell Ventures generally invests $2M-$20M over the life cycle of the deal, in technology companies, business models and growth plays to enhance the development of energy solutions that have the potential to create substantial deployment value in Shell. Continuing Shell’s tradition in venture capital since 1997, Shell Venture’s investment focus includes oil & gas, renewable energy and digital. It co-invests with other corporate investors, venture capital funds and angels and will invest in both early stage and late stage (growth capital) companies. For more information, visit www.shell.com/shell-ventures

About Moore Strategic Ventures, LLC
Moore Strategic Ventures, LLC is the privately held investment company for Louis M. Bacon, Founder and CEO of Moore Capital Management, LP.

About Repsol Energy Ventures
Repsol is a global company that is present throughout the energy value chain. It has activity in 37 countries, employs more than 25,000 people and its products are sold all over the world. The company has anticipated the energy transition with the development of gas production projects, low emission businesses and a multi-energy offer. It has leading projects in different disciplines that have made it a reference in innovation, sustainability and efficiency in the world of energy. Repsol Energy Ventures is the Venture Capital fund of Repsol, which seeks to accelerate the incorporation of innovative business models and technologies into the company's business and processes. For more information, visit www.ventures.repsol.com

About Hemi Ventures
Hemi Ventures invests in early stage startups in autonomous vehicles, artificial intelligence applications, robotics, biotech, and other emerging technology sectors. We partner with entrepreneurs whose cutting edge innovations unlock new frontiers for human potential. Our tech rebels are trailblazing new markets as they push the industry forward to overcome the limitations of today. For more information, visit www.hemi.vc

About TRIREC Pte Ltd
TRIREC Pte Ltd is a Singapore-based investment holding company founded in 2015 focusing on global opportunities in the areas of renewable energy, clean technology and sustainability. TRIREC aims to identify suitable equity investment opportunities in early and growth stage companies which can potentially provide significant long-term upside return performance. The team also evaluates infrastructure investment projects that can provide consistent cash flows to its investors. The full spectrum of TRIREC’s investment mandate allows it to support its portfolio partners from early stage development to capital market phase and provides a balanced approach for TRIREC’s investment returns. Achieving long term sustainable and positive impact to our environment while being able to leave behind a better place for our next generation is imperative to our core values. For more information, visit www.trirec.co

Contact information

Media:
Sard Verbinnen & Co
George Sard/Devin Broda, 212-687-8080

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