Ample, the fast charging electric car startup in which Repsol has invested

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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

Repsol is one of the companies that have participated in the round of financing of the American technology Ample, dedicated to the development of a new form of recharge for electric vehicles and that has raised a total of 31 million dollars (about 27 million euros).

As reported by the company in San Francisco and collected BusinessWire, Repsol has invested in technology through Repsol Energy Ventures, its venture capital fund for investments in startups that provide a disruptive technology capable of complementing business of the company.

Together with Repsol, other companies such as Shell Ventures, Hemi Ventures and Trirec have opted for Ample’s innovative technology, which considers that the successful financing round will allow it to “build a large-scale solution for charging electric vehicles”, according to its CEO and co-founder, Khaled Hassounah.

To achieve this, Ample believes that it “requires a new focus on infrastructure and the partners that can develop an electrical network” capable of reaching all parts of the globe.

“Ample has invented an economical, fast implementation and widely accessible platform that gets a full charge of any electric car in minutes.” As an alternative to traditional charging, Ample uses autonomous robotics and smart battery technology, making it accessible to anyone who has an electric car, regardless of their driving needs, their economic means or their geographical location, “the company says.

Thus, the company proposes a breakthrough model in the “electrification ecosystem” that aims to “help put an end to one of the biggest pitfalls for the large-scale adoption of electric vehicles,” according to Steve McGrath, investment director at Shell Ventures.

It refers, of course, to the energy limitation of batteries: on the one hand, until now there are no batteries with a large storage capacity, which is why many of the models of electric cars have an autonomy of between 300 and 500 kilometers, in the best case; on the other, the loading time is usually very high, so the refueling ends up being a great inconvenience.

In this sense, Repsol’s New Ventures manager, Luis Casado, highlighted the value of Ample’s project to “quickly reach” the global objectives related to climate change and considered that the Spanish group, as an integrated energy company, It will join the growth of electrification in the mobility sector and hopes that the solution of the American technology will help meet the objectives of Europe.

On the other hand, Repsol is present within the field of electric mobility and has taken shareholdings in projects such as WeSmartPark or DriveSmart, leading Spanish companies in the development of digital mobility tools.

WeSmartPark connects empty spaces and drivers looking for parking and DriveSmart shares, through its free app, challenges and rewards with its users to reward safe driving.

In addition, it also participates in the company Scutum, which develops electric scooters based on an electric platform with removable batteries and easy transport.

It is also present in IBIL, a reference company in the recharging services in Spain that has more than 1,200 operational recharging points, 26 of them in Repsol service stations, and in Wible, a car sharing service in Madrid launched with Kia and that it has 500 plug-in hybrid cars of the Kia Niro model.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.