Ampd Energy Secures $27.3 Million in Series B Funding to Propel Clean Energy Storage Solutions
Deal News | Nov 05, 2024 | PR Newswire Cision Ampd Energy
Ampd Energy, a leading innovator in the energy sector, raised $27.3 million in an oversubscribed Series B funding round, co-led by Kibo Invest and Openspace, along with contributions from existing investors MTR Lab, Taronga Ventures, and 2150. The funds will be dedicated to expanding Ampd Energy's clean energy storage solutions to new sectors and regions, including mining and industry markets, as well as geographies like Europe, the Middle East, Southeast Asia, and the US by 2025. Ampd Energy's innovative products, the Enertainer and Ampd Silo, significantly reduce carbon footprints and have already reduced CO2 emissions by over 69,000 tons. The company's ambition aligns with investor goals to promote a zero-emission future for industries. The strategic expansion is buoyed by recent investor support in challenging fundraising conditions, highlighting a shared vision for a sustainable energy landscape.
Sectors
- Energy Storage & Solutions
- Renewable Energy & Decarbonization
- Venture Capital & Private Equity
- Construction & Heavy Industries
Geography
- Global – Ampd Energy operates in over seven countries and aims to expand further into Europe, the Middle East, Southeast Asia, and the US.
- Singapore – Singapore is a hub for Ampd Energy and several investors, including Kibo Invest and Openspace.
Industry
- Energy Storage & Solutions – Ampd Energy is an innovator in this sector, developing battery energy storage systems (ESS) for industrial use.
- Renewable Energy & Decarbonization – The funding supports Ampd Energy's focus on reducing carbon footprints with its clean energy products.
- Venture Capital & Private Equity – Multiple investors including Kibo Invest and Openspace played crucial roles in the Series B funding round.
- Construction & Heavy Industries – Ampd Energy's clean energy products cater mainly to the construction industry and are expanding into heavy industries.
Financials
- $27.3 million – Total raised in Series B funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ampd Energy | Target Company | Company | A global innovator in the energy industry focusing on battery energy storage systems. |
| Kibo Invest | Co-lead Investor | Company | An investment firm focused on sustainable returns and innovation, co-leading Ampd's Series B round. |
| Openspace | Co-lead Investor | Company | A venture capital firm emphasizing transformative companies, co-leading Ampd's Series B round. |
| MTR Lab | Investor | Company | An existing investor in Ampd Energy, participating in the Series B round. |
| Taronga Ventures | Investor | Company | An existing investor in Ampd Energy, participating in the Series B round. |
| 2150 | Investor | Company | An existing investor in Ampd Energy, participating in the Series B round. |
| Anthony Stewart | CFO | Person | Chief Financial Officer at Ampd Energy. |
| James Marshall | CEO of Kibo Invest | Person | CEO of Kibo Invest, co-leading the Series B funding. |
| Jessica Huang Pouleur | Partner at Openspace | Person | Partner at Openspace, co-leading the Series B funding. |
| Brandon Ng | Co-founder | Person | Co-founder of Ampd Energy, driving its innovative solutions. |