Ampd Energy – a global energy industry innovator and manufacturer of the Enertainer and Ampd Silo battery energy storage systems (ESS) for heavy industries – announced today that it raised $27.3 million in an oversubscribed Series B funding. This funding round was co-led by Kibo Invest and Openspace, the largest investor in this round, with notable participation from existing investors MTR Lab, Taronga Ventures, and 2150.
These funds will be used to further expand decarbonization across new verticals and regions. The combined building and construction sector is responsible for a large percentage of the total global final energy consumption and a large percentage of total emissions in the overall energy sector. Compared to fossil fuel generators, Ampd Energy’s Ampd Silo and Enertainer energy storage products reduce carbon footprints by up to 90%, are significantly quieter, emit zero air pollutants and eliminate diesel handling and usage risks.
So far, the company has deployed over 300 units among seven countries, primarily in construction and abated over 69,000 tons of CO2, which is equivalent to removing over 88,000 cars from the road. And the 2022 Earthshot Prize finalist plans to leverage this recent funding – secured in a challenging fundraising environment – to expand into new markets such as mining and manufacturing in 2025. The proceeds will also go toward targeting new geographies including the Middle East, Europe, United States and Southeast Asia, supported by their new partnership with Kibo Invest and Openspace.
Ampd Energy’s Enertainer and Ampd Silo ESS offers clean, affordable, stable and emissions-free futures for industries all over the world, along with valuable data-driven insights, offering 24/7 real-time monitoring and problem diagnostics.
KEY QUOTES:
“This new funding is a testament to the hard work of our team, our focus on being a commercially viable cleaner solution for businesses around the world, and the commitment from our investors in creating an emission-free future for industries. We’re looking ahead to accelerating our growth, entering new verticals and delivering even more innovative solutions to our customers globally.”
- Anthony Stewart, CFO at Ampd Energy
“We are particularly impressed by Ampd Energy’s visionary leadership and their sharp focus on executing a clear strategic roadmap. Their commitment to excellence resonates with our own investment philosophy. We’re excited to support Ampd Energy’s expansion into new markets and industries, driving further growth and amplifying their positive impact on the global energy landscape. At Kibo Invest, we are dedicated to investing in forward-thinking companies that are shaping the future, and Ampd Energy is a prime example of that vision in action.”
- James Marshall, CEO of Kibo Invest
“We’re pleased to back Ampd Energy, which has demonstrated impressive current traction to date and are, even now, just starting to realize the full potential of their energy storage solutions in Southeast Asia and globally. The backbone of the business is a committed and strong management team, who have shown time after time what it takes to build in a commercially viable yet impactful way. We’re looking forward to partnering with Ampd Energy to deliver the significantly reduced reliance on diesel that their innovations make possible.”
- Jessica Huang Pouleur, Partner at Openspace
