Ampowr Raises $6.0million in Series A Equity Investment

FOR IMMEDIATE RELEASE / BUSINESS WIRE / PRNEWSWIRE

AMSTERDAM, NETHERLANDS., Feb. 04, 2022 – Ampowr B.V. Group Holding (AMPOWR) today announced that it has raised $6.0 million in a Series A equity investment by funds advised by Seven Seat Capital for the scale up of their Smart Integrated Battery Energy Storage business.

“It has never been more important for the world’s energy consumers to understand and react to the changing behaviours of centralised energy providers,” said Andy Elwell, Executive Director and co-owner at Ampowr. “Ampowr’s battery energy storage products and Cosmos™ platform makes it fast and easy for energy consumers to use IoT (Internet of things), ML (Machine learning) and AI (Artificial Intelligence) to automate more informed energy decisions, provide locally controlled energy management and security.”

“The energy transition has rapidly accelerated, intermittent renewable energy sources need balancing and the ability to operate 24/7. The increase in renewable energy has significantly impacted the current grid infrastructure causing congestion and an increase in energy costs. Utility providers are forced to cease accepting renewable energy back into the grid and in some cases charging the producer for feeding energy back into the grid and requesting larger scale industry to shift their operations to different off-peak times. Subsidies are now rapidly shifting from Solar to Battery Energy Storage and Ampowr is positioned perfectly to support the entire market.” said Eric van Honk, Executive Director and co-owner at Ampowr.

Ampowr will use the additional capital to accelerate product development, supply chain, user experience and to expand globally.

About Ampowr:
In a ever changing and challenging world, Ampowr are focused on building sustainable energy environments. Ampowr has adopted a people-led culture to drive modern-thinking towards renewable energy storage and turn strategy into behaviour, continuously adapting in an ever changing world. The core of Ampowr operations is based on four key technologies: Batteries & Chargers, BESS Battery Energy Storage Systems (Mid-Scale Power), ESS Energy Storage Systems (Large-Scale Power) and EMS Energy Management & BMS Battery Management System Steering. All of which have great significance for residential users, commercial and industrial companies and pave the way for future ready systems compatible for “EaaS” Energy-as-a-Service and Energy-Trading.

Ampowr customers are found in various industries such as Telecommunication, Material Handling, Buildings & Infrastructure, Utility, Medical, Aerospace & Defense, Oil & Gas.

Source: Ampowr

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