AmpUp Awarded $1.7 Million Grant

<p><strong>SANTA CLARA <&sol;strong>– <a href&equals;"https&colon;&sol;&sol;www&period;ampup&period;io&sol;">AmpUp<&sol;a>&comma; an operating system for electric vehicle &lpar;EV&rpar; charging&comma; has been awarded up to &dollar;1&period;7 million in project funding by the State of Connecticut’s Public Utility Regulatory Authority &lpar;PURA&rpar; for EV charging demand flexibility&period;<&sol;p>&NewLine;<p>The grant was awarded on December 13th&comma; 2023 under PURA’s <a href&equals;"https&colon;&sol;&sol;ct-ies&period;com&sol;" target&equals;"&lowbar;blank" rel&equals;"noopener">&OpenCurlyQuote;Innovative Energy Solutions<&sol;a>’ program&comma; a statewide initiative to identify&comma; pilot&comma; and scale innovative ideas that enable a decarbonized&comma; affordable&comma; and equitable electric grid for Connecticut&period; The pilot aims to provide grid operators with a scalable solution to balance energy demand during peak periods by decreasing load at EV stations&comma; ultimately leading to cost savings for ratepayers&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The AmpUp team could not be more excited to receive this grant&period; We are eager to accelerate the EV transition in the state by exploring EV charging management capabilities with utilities&comma; station owners&comma; and EV drivers&period;” said Tom Sun&comma; CEO &amp&semi; Cofounder of AmpUp&period; &OpenCurlyDoubleQuote;We are investing heavily in the State of Connecticut and excited to see opportunities like this grow local jobs in addition to helping the state meet their air quality goals”&period;<&sol;p>&NewLine;<p>AmpUp was 1 of 7 final awardees among more than 50 applicants&comma; and the only EV charging company selected for this phase of funding&period; The project is planned to kick off in 2024 and is tied to state-goals of meeting clean air standards&comma; growing EV adoption&comma; and supporting underserved communities&period;<&sol;p>&NewLine;<p>Drew D’Alelio&comma; Senior Investment Associate of <a href&equals;"https&colon;&sol;&sol;ctinnovations&period;com&sol;" target&equals;"&lowbar;blank" rel&equals;"noopener">Connecticut Innovations<&sol;a> said&colon; &&num;8220&semi;EV charging should be simple&comma; affordable&comma; and accessible&period; With this award&comma; AmpUp&&num;8217&semi;s innovative software and energy management technology will be positioned to shine&comma; driving meaningful economic and environmental benefits for CT residents and simplifying the EV transition&period; CI&&num;8217&semi;s Climate Fund is excited to continue supporting AmpUp as they set up their CT office&comma; grow more CT jobs&comma; and embark on this innovative project&period;&&num;8221&semi;<&sol;p>&NewLine;<p>According to the <a href&equals;"https&colon;&sol;&sol;afdc&period;energy&period;gov&sol;fuels&sol;electricity&lowbar;locations&period;html&num;&sol;find&sol;nearest&quest;fuel&equals;ELEC&amp&semi;ev&lowbar;levels&equals;2" target&equals;"&lowbar;blank" rel&equals;"noopener">U&period;S&period; Department of Energy’s Alternative Fuels Data Center<&sol;a>&comma; AmpUp’s network represents over 30&percnt; of all networked Level 2 charging stations in the State of Connecticut as well as over 94&percnt; of all private chargers in the state&period; As one of the largest EV charging networks in the state&comma; AmpUp also holds a 96&period;4&percnt; charge session success rate on top of a nearly 100&percnt; system uptime across their network of integrated Level 2 and DC Fast chargers in North America&period;<&sol;p>&NewLine;<p>AmpUp is increasing investment in the State of Connecticut with plans to open a new office in East Hartford in early 2024&period;<&sol;p>&NewLine;