AMPLY Power Secures $13.2 Million Led by Soros Fund Management and Siemens to Unlock Electric Charging Infrastructure for Commercial Fleets 

AMPLY Power Secures $13.2 Million Led by Soros Fund Management and Siemens to Unlock Electric Charging Infrastructure for Commercial Fleets 

Investment to scale Charging-as-a-Service model that offers fleet managers hardware agnostic infrastructure support and an operating system to reliably and cost-effectively charge commercial electric vehicles.

[Mountain View, CA, April, 28, 2020] – As cities and corporations accelerate their adoption of electric trucks and buses, AMPLY Power, the leader in charging solutions for fleets, has secured $13.2 million in Series A funding from investors, including Soros Fund Management and Siemens. They are joined by existing seed round investors, including Congruent Ventures, PeopleFund, and Obvious Ventures.

Founded by serial entrepreneur Vic Shao, AMPLY Power is a leader in charging services for commercial electric vehicle fleets. Its comprehensive end-to-end, Charging-as-a-Service approach for fleet operators ensures each electric truck or bus is charged and ready for work each day, in exchange for a price-per-mile-driven fee. AMPLY’s proprietary software technology optimizes and aggregates vehicle charging to minimize energy costs and maximize vehicle uptime. As a recent customer success story, Tri Delta Transit found that up to 40 percent of electric charging costs could be saved using AMPLY’s solution, while charging a variety of bus types and chargers.

“With reduction in transportation emissions brought by the coronavirus pandemic, cities around the world have a window into the air quality we deserve once society transitions to electric mobility,” said AMPLY CEO Vic Shao. “At AMPLY, it is our mission to take the technical guesswork out of electrification infrastructure so fleets can scale their zero-emission deployments with confidence while delivering cleaner air for their communities.”

AMPLY services include charging hardware deployment, management of depot upgrades and utility interconnections, real-time software-controlled charge optimization, debt financing of capital expenditures, and resiliency planning. The company assumes financial responsibility of the utility account for charging and bills the fleet customer for ongoing vehicle miles. AMPLY also performs onsite operations and maintenance services and invests in technology upgrades as the needs of the fleet evolve.

“Time and again, the major hurdle most electric truck and bus pilots face is the charging infrastructure. In fact, charging fleets without incurring hefty utility bills is the key obstacle for most electric fleets to scale towards full deployment,” said Iti Jain, VP at Siemens. “AMPLY’s mission dovetails with Siemens’ strategy of making electromobility adoption easy, and we look forward to supporting AMPLY’s growth with our extensive experience in the energy and transportation sectors.”

Siemens has defined eMobility as one of its top strategic growth fields, deploying over 100,000 charging stations in 35 countries. The company continues its PlugtoGridTM focus on customers in the car, bus, fleet, and truck market across North America.

Along with this funding, the company plans to expand its team and customer deployments. Currently, AMPLY manages charging operations for a variety of customers, including East Contra Costa County’s Tri Delta Transit, an electric school bus fleet demonstration in New York City with Logan Bus. Additionally, AMPLY has preferred partnerships with electric bus manufacturer BYD, and the subsidiary of Hawaiian Electric Company, Pacific Current. CEO Vic Shao was newly named to the 2020 Grist 50 list as one of 50 “fixers,” providing new solutions to the planet’s biggest problems. AMPLY was also recently listed on the Cleantech Forum’s Global Cleantech 100 as a company poised to solve some of society’s biggest challenges over the next five to ten years.

About AMPLY Power

FLEET CHARGING, SIMPLIFIED. AMPLY Power provides Charging-as-a-Service to de-risk and accelerate the adoption of electric buses, trucks, and passenger vehicles by public and private fleets through its simple price-per-mile-driven model. AMPLY provides a fully managed charging solution that enables municipal and commercial fleets to deploy electric vehicles confidently and without hassles. AMPLY handles all aspects of charging operations on behalf of fleet owners, and AMPLY’s charging systems are optimized for the lowest electricity costs.  

For more information, please visit www.amplypower.com and follow @AMPLYPower on Twitter and LinkedIn

Media Contact:

Technica Communications for AMPLY Power

Lisa Ann Pinkerton  

Ph. 408-806-9626  Ext. 9626  

lisaann@technicacommunications.com 

 

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AMPLY Power Saves Up to 40% on Energy Costs for Tri Delta Transit Electric Buses

AMPLY Power Saves Up to 40% on Energy Costs for Tri Delta Transit Electric Buses

AMPLY's EV Charging Software maximizes savings and vehicle uptime for Municipal and Commercial Electric Vehicle Fleets.

[Antioch, CA, April, 9, 2020] – Supporting California’s goal to transition all public transit agencies to 100 percent zero-emission bus fleets by 2040, AMPLY Power is managing the charging of electric buses for Eastern Contra Costa Transit Authority, operating under the name Tri Delta Transit. AMPLY identified 40 percent of annual energy savings its managed charging software platform could realize, while guaranteeing vehicles were charged and ready to work each day. AMPLY expects savings to increase as Tri Delta Transit expands its electric bus fleet in the future. This service to Tri Delta Transit exemplifies AMPLY’s leadership in supporting municipal transit customers to maximize the benefits of their electric bus fleets while remaining hardware agnostic.

“For any transit authority, guaranteeing that all of our buses are ready for their morning roll-out is critical. Electric buses bring a new process to our operations and electricity use, and we knew we were better off, in the long run, leveraging the expertise of AMPLY’s model,” said Steve Ponte, Chief Operating Officer of Tri Delta Transit. “They helped us pinpoint the financial, operational, and equipment improvements we could make to realize 40 percent savings and ensure uptime for our riders who depend on our bus service to go about their daily lives. As we expand our EV fleet, we look forward to working with AMPLY to realize even greater savings.”

Tri Delta Transit launched its electric bus program in 2018. AMPLY was brought in during the fall of 2019 to simplify Tri Delta’s charging operations and address challenges presented by previously installed hardware. Tri Delta Transit equipment includes buses from Proterra and BYD and associated charging infrastructure systems. This project illustrates how the AMPLY offering is agnostic to a variety of buses and chargers regardless of manufacturer.

AMPLY’s cloud-based smart charging system monitors the charging status and power levels in real-time, deploying algorithms to minimize utility demand and time-of-use rate charges. Using this real-time status, allows AMPLY’s system to forecast when the vehicles will be ready-to-go, and once the vehicles are out delivering passengers, AMPLY’s system can track their return state-of-charge battery level and length of time to recharge. For Tri Delta, this is realizing up to 40 percent savings on energy rates.

“We monitor the chargers and catch error codes to improve charger uptime, and its database collects all the information Tri Delta needs to confidently move down their electrification roadmap,” said Rob Kelly, VP Business Development of AMPLY.

Additionally, as a regulated fuel supply entity with CARB, AMPLY supported Tri Delta Transit in monetizing its low-carbon fuel standard (LCFS) credits. Such savings and LCFS credits can be reinvested into operations to accelerate a transit authority’s ability to adopt a zero-emissions future.

“Fleet operators work on a very rigorous timeline and must adhere to a strict operational dance to ensure their vehicles run on-schedule. This on-the-go structure makes finding the time to optimize an electric fleet more difficult than one might expect,” said Vic Shao, CEO of AMPLY. “Municipal and commercial fleets are on the front lines of state-wide goals to decarbonize our transportation sector, and they deserve solutions that make the transition both simple and cost-effective. We’re proud to work with Tri Delta Transit on their charging operations so they can put their focus on providing quality service to their riders.”

Beyond managing charging operations with a depot’s existing hardware, AMPLY offers a comprehensive Charging-as-a-Service to fleet owners. The offering includes managing utility administration and interconnection, as well as establishing an optimal charging strategy based on drive and duty cycles. This service can also provide debt financing or secure grant funding to reduce capital expenditures and implement resiliency plans as needed. Additionally, AMPLY is available to perform onsite operations maintenance services, and invest in technology upgrades as the needs of a fleet evolve.

Overall, AMPLY manages charging operations for a variety of customers, including an electric school bus fleet demonstration in New York City, and through preferred partnerships with electric bus manufacturer BYD, and the subsidiary of Hawaiian Electric Company, Pacific Current. CEO Vic Shao was newly named to the 2020 Grist 50 list as one of 50 “fixers,” providing new solutions to the planet’s biggest problems. AMPLY was also recently listed on the Cleantech Forum’s Global Cleantech 100 as a company poised to solve some of society’s biggest challenges over the next five to ten years

About Tri Delta Transit

Tri Delta Transit provides over 3,000,000 trips each year to a population of over 250,000 residents in the 225 square miles of Eastern Contra Costa County. They currently operate 15 local bus routes Monday – Friday, four local bus routes on weekends, door-to-door bus service for senior citizens and people with disabilities, and shuttle services to community events.

For additional information about Tri Delta Transit, please visit www.trideltatransit.com.

About AMPLY Power

FLEET CHARGING, SIMPLIFIED. AMPLY Power provides Charging-as-a-Service to de-risk and accelerate the adoption of electric buses, trucks, and passenger vehicles by public and private fleets through its simple price-per-mile-driven model. AMPLY provides a fully managed charging solution that enables municipal and commercial fleets to deploy electric vehicles confidently and without hassles. AMPLY handles all aspects of charging operations on behalf of fleet owners, and AMPLY’s charging systems are optimized for the lowest electricity costs.

For more please visit www.amplypower.com and follow @AMPLYPower on Twitter and  LinkedIn

Media Contact:

Technica Communications for AMPLY Power

Amanda Razani amanda@technicacommunications.com

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