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Shell, Repsol in US$ 31 million financing for electric car charging start-up

Shell Ventures, together with Repsol Energy Ventures, Moore Strategic Ventures, Hemi Ventures, and TriRec, has raised nearly $31 million Series A round of financing for San Francisco-based electric vehicle (EV) charging start-up, Ample.



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Author: PetrolPlaza Correspondent Daniel Infante Tuaño

The financing will be used to deploy Ample’s technology in multiple locations over the coming months, according to a company release.

Ample uses autonomic robotics and smart battery technology, which allow full charging in minutes.

“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,” said James McIntyre of Moore Strategic Ventures who will be joining Ample’s Board of Directors along with Steve McGrath of Shell Ventures.

Shell’s McGrath considers that combining Ample’s technology and Shell’s retail fuel network would help grow its new EV charging business.

Ample’s solutions will also help meet emissions target requirements imposed by governments around the world.

“As an integrated energy company, we join the growth of the electrification in the mobility sector, and we’re looking forward to Ample’s near-term solution to meet Europe’s goals,” said Luís Casado from Repsol.

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