Ample: An Energy Efficient Battery Swapping Business

Ample: An Energy Efficient Battery Swapping Business
Ample Success Story

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When it comes to widespread electric vehicle adoption, the concept of charging can't be ignored. Are chargers produced in sufficient quantity? Will these chargers charge the cars fast enough?

Billions of dollars have been spent on producing batteries that can handle fast charges and chargers that can charge vehicles in less time. At least the United States is talking about battery swapping for cars and trucks.

Ample is among the few top-recognized startups involved in an energy-efficient battery-swapping business. In this article, you will uncover all about Ample, its products, startup story, founders, growth, funding, partners, investors, and more.

Ample - Company Highlights

Company Name Ample
Headquarters San Francisco, California, United States
Sector EV Batteries Manufacturing
Founders John de Souza, Khaled Hassounah
Founded In 2014
Valuation $890 million(2021)
Website Ample.com

Ample – About
Ample – Industry
Ample – Founders and Team
Ample – Startup Story
Ample – Mission and Vision
Ample – Business Model
Ample – Revenue Model
Ample – Products and Services
Ample – Challenges Faced
Ample – Funding and Investors
Ample – Patents and Trademarks
Ample – Growth
Ample – Partners
Ample – Awards and Achievements
Ample – Competitors
Ample – Future Plan

Ample – About

Ample is a United States-based company that offers an energy delivery solution that is as fast, convenient, and cheap as gas and powered by 100% renewable energy. This economical, rapidly deployable, and widely accessible platform delivers a full charge to different electric car models within a few minutes.

Ample serves customers worldwide in Japan, Europe, China, San Francisco, NYC, Chicago, Los Angeles, and other locations.

Ample – Industry

Ample is serving the battery-swapping market where companies provide services letting electric vehicle (EV) owners exchange depleted batteries with fully charged ones at specialized stations. The global market size of the battery-swapping industry is projected to grow from $210 million in 2022 to $1,664.44 million by 2032, with a CAGR of 23% during this period.

The idea of battery swapping gained renewed interest recently due to governments and car manufacturers pushing for EV adoption. Apart from Ample, Better Place, Tesla, Amara Raja, Numocity, BattSwap Inc., and Sun Mobility are some key players in the battery-swapping industry.

Ample – Founders and Team

John de Souza and Khaled Hassounah founded Ample in 2014.

John de Souza

John de Souza completed SB & SM in EECS from Massachusetts Institute of Technology and an MBA in Finance from College des Ingenieurs. He has been a Board member at Health eVillages. At present, he is the Dignity Health Foundation Board Member at Dignity Health.

In addition, he holds the role of Global Leadership Council Member at Boston University of School of Public Health and Advisory Board Member at Tivity Health. John is the founder and President of Ample Inc.

John de Souza - Co-founder and President, Ample
John de Souza - Co-founder and President, Ample

Khaled Hassounah

Khaled Hassounah graduated with a B.Sc. in Electrical and Electronics Engineering from the University of Jordan. He worked as Principal Software Architect at One World Software Solutions and Director of Engineering at IMlogic Inc. Moreover, he has been the Director of the Middle East and Africa at One Laptop Per Child.

In addition to co-founding Ample Inc., he co-founded MedHelp and remained Board Director at KarmSolar. Currently, he is working as Ample's CEO.

Khaled Hassounah - Co-founder and CEO, Ample
Khaled Hassounah - Co-founder and CEO, Ample

Ample is a team of over 150 technologists, designers, and environmental enthusiasts from 24 different countries speaking 14 different languages.

Ample – Startup Story

Ample is a startup that rose from the ashes of its unsuccessful predecessor, Better Place. When electric vehicles had an 'uninspiring' range a few years ago, many companies toyed with the idea of equipping cars with swappable battery packs. It's when Shai Agassi started a business called Better Place to revolutionize the nascent electric vehicle market. However, by 2013 the company went bankrupt.

After some time, John de Souza and Khaled Hassounah thought of reviving the battery-swapping business model and came up with the company named Ample. The company introduced an electric vehicle charging system. Moreover, it quickly deploys robots to replace small modular battery packs in electric cars. Unlike Batter Place, which used to build expensive battery stations, Ample created stations built in a space with two parking spaces' width.

In 2021, Ample worked with five OEMs and validated its approach to battery swapping with nine different car models. In addition, the company supported level one and level two charging options. The company completed 2.4 million+ battery swaps for Chinese drivers in May 2021.


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Ample – Mission and Vision

Ample aims to solve the energy delivery challenge for electric transportation with autonomous robotics and smart-battery technology. Its mission is to make it possible for every individual to have 'Electric Cras for Everyone.'

Ample – Business Model

Ample's concept is straightforward, i.e., instead of pulling up an EV to a charging station to get more power, the enterprise proposes the idea of installing Ample's modular battery packs in the vehicles, which can be swapped out at specific stations.

Ample produces future-proof modular batteries that can adapt to any EV. These EV batteries are made of Lego-like battery modules that are flexible enough to accommodate any make, design, model, or driving profile.

Moreover, a combination of computer vision and secure wireless communication with the automobile is used by Ample Station to identify the exact location of each battery module that is to be swapped. The discharged battery modules are removed from the vehicle and charged again to use in the next car.

Ample – Revenue Model

Ample generates revenue by producing, deploying, and installing energy-efficient EV modular batteries and providing access to its battery swapping stations.

Ample – Products and Services

Ample provides EV modular batteries for cars and trucks of varied make and models and battery swapping stations. Moreover, the company offers Ample App to the drivers of its partner fleets.

Ample – Challenges Faced

Ample's battery charging system is unlikely to succeed as a consumer-focused system but could make sense for only commercial vehicles.

Ample – Funding and Investors

Ample has undertaken 5 funding rounds to raise $290.7 million. Its latest funding round - Grant Round, was conducted on February 28, 2023, and raised $15 million. 15 investors fund Ample; the main ones are Blackstone Group, Moore Strategic Ventures, and Shell Ventures.

Date Round Number of Investors Money Raised Lead Investor
February 28, 2023 Grant - $15 million -
November 10, 2021 Private Equity Round 2 $50 million Blackstone Group
August 19, 2021 Series C 8 $160 million Moore Strategic Ventures
February 13, 2020 Series B - $34.7 million -
August 6, 2018 Series A 8 $31 million Shell Ventures

Ample – Patents and Trademarks

Ample is registered with 4 patents, primarily categorized into the 'Vehicles In General' class. In addition, the company has 3 registered trademarks, and 'Machines and Machine Tools' is the most popular class.

Ample – Growth

The estimated annual revenue of Ample was $71.9 million per year ($463,703 per employee), with a $890 million valuation in August 2021. Moreover, the monthly web visits grew by 47.96%, with 32,623 visits. And its employee count elevated by 50% last year.

Introducing Ample: A New Way to Deliver Energy to Any Electric Vehicle

Ample – Partners

Ample has partnered with:

  • Uber
  • Sally
  • Repsol
  • Eneos

Ample – Awards and Achievements

Some of the awards that Ample received are:

  • World Changing Ideas by Fast Company Magazine in 2022
  • 10 Most Innovative Companies by Fast Company Magazine in 2022
  • Best Inventions by Time Magazine in 2021

Ample – Competitors

Some of its main competitors are:

  • BYD
  • ISERVICE Auto
  • Launch Tech USA
  • EMPI
  • GERMAN Auto
  • Edelbrock Group
  • Singulato

Ample – Future Plan

Ample and Uber plans to extend their partnership to Europe to electrify half the rides booked across seven European capitals, including Amsterdam, Paris, London, Berlin, Madrid, and Lisbon, by 2025.

FAQs

What does Ample do?

Ample offers an energy delivery solution that is as fast, convenient, and cheap as gas and powered by 100% renewable energy. This economical, rapidly deployable, and widely accessible platform delivers a full charge to different electric car models within a few minutes.

Who are the founders of Ample?

John de Souza and Khaled Hassounah founded Ample in 2014.

Who are the main competitors of Ample?

Some of Ample's main competitors are:

  • BYD
  • ISERVICE Auto
  • Launch Tech USA
  • EMPI
  • GERMAN Auto
  • Edelbrock Group
  • Singulato

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