Shell Ventures Leads $31 Million Series A in Ample

SAN FRANCISCO — Ample, a technology company focused on solving the energy delivery challenge for electric cars,  has closed a $31 million Series A round of financing. Shell Ventures, the venture arm of Royal Dutch Shell, led the round with participation from Moore Strategic Ventures, Repsol Energy Ventures, Hemi Ventures, and TRIREC.

The financing will be used to deploy Ample’s technology in multiple locations over the coming months. Steve McGrath of Shell Ventures and James McIntyre of Moore Strategic Ventures will be joining Ample’s Board of Directors.

Ample has invented an economical, rapidly deployable and widely accessible platform that delivers a full charge to any electric car in minutes. An alternative to traditional charging, Ample uses autonomous robotics and smart-battery technology, making it feasible for anyone to own an electric car regardless of driving needs, economic means, or geographic location.

“Building a scalable solution for charging electric vehicles requires a new approach to infrastructure, and partners who are committed to developing electrification as the new energy downstream,” said Khaled Hassounah, CEO and co-founder of Ample.

“EVs in the light – and medium duty sectors are steadily gaining market share,” said Steve McGrath, Investment Director of Shell Ventures. “Combining Ample’s technology with Shell’s existing retail network for re-fueling and our growing position in power could help us achieve our aspirations to grow a large new business in EV energy solutions.”

“We have looked deeply into the electrification ecosystem,” said James McIntyre of Moore Strategic Ventures. “We believe Ample’s proprietary robotics and battery technology solution can help solve one of the largest constraints to wide-scale adoption of electric vehicles. We are excited to partner with the company, Shell Ventures and Repsol Ventures to help make Ample’s vision a reality.”