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Ample closes $160M Series C to scale battery-swapping

Ample has raised a Series C funding round of $160 million led by Moore Strategic Ventures with participation from existing Ample investors ENEOS and Shell Ventures, along with new strategic investments from Momentum Venture Capital (the corporate venture arm of Singapore’s public transportation operator) and PTT (Thailand’s state-owned gas and oil company and largest corporation) as well as Rose Park Advisors, co-founded by the late Clayton Christensen, through its Disruptive Innovation Fund.

This brings Ample’s total funding raised to $230 million. The new funding round will be used to scale the company’s modular battery swapping technology across the US and to more corners of the globe.

Since Ample emerged from stealth in March of this year, in addition to its ongoing work with Uber, it has announced a collaboration with energy company ENEOS to bring the technology to Japan, as well as a partnership with NYC-based fleet provider Sally to create a reimagined battery swapping experience for EV drivers and get more EV taxi and ride-sharing drivers on the road, faster.

Using a combination of computer vision and secure wireless communication with the vehicle, the Ample station can identify the exact location of each battery module to be swapped. Once discharged battery modules are removed from the car, they are placed on shelves so that they can be charged and ready for the next vehicle.

An Ample EV battery is made out of lego-like battery modules that can accommodate any make, design, model or driving profile. Ample says that it can easily work with any EV design. Ample says it has already integrated into many existing platforms by working closely with automakers. The process of getting a new car on the Ample platform takes 2-3 months. The EV can still support the original battery since the same vehicle design can support both offerings.



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