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Ampd Energy Secures Oversubscribed $27.3 Million in Series B Funding to Accelerate Clean Battery Energy Storage Solutions Globally

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$27.3 million Series B funding co-led by Kibo Invest and Openspace, continued participation from MTR Lab, Taronga Ventures and 2150Ampd Energy has deployed +300 smart battery units – primarily in construction – in seven countries, abating over 69,000 tons of CO2, the equivalent of 88,000 carsIn 2025 expansion is planned into new markets (mining and manufacturing) and geographies (Europe, the Middle East, Southeast Asia and the USA)

SINGAPORE, Nov. 5, 2024 /PRNewswire/ — Ampd Energy, a global energy industry innovator and manufacturer of the Enertainer and Ampd Silo™ battery energy storage systems (ESS) for heavy industries, today announced that it has raised $27.3 million in an oversubscribed Series B funding. The round was co-led by Kibo Invest and Openspace, the largest investor in this round, with notable participation from existing investors MTR Lab, Taronga Ventures and 2150, confirming their support and belief in Ampd Energy by participating above pro-rata. The funds will be used to further expand decarbonization across new verticals and regions.

According to the IEA, the combined building and construction sector is responsible for 30% of total global final energy consumption and 27% of total emissions in the overall energy sector. Compared to fossil fuel generators, Ampd Energy’s Ampd Silo and Enertainer energy storage products reduce carbon footprints by up to 90%, are significantly quieter, emit zero air pollutants and eliminate diesel handling and usage risks.

Focusing on technical innovation and commercial viability, the company to date has deployed more than 300 units among seven countries, primarily in construction and abated over 69,000 tons of CO2, which is equivalent to removing over 88,000 cars from the road. The 2022 Earthshot Prize finalist plans to leverage this recent funding – secured in a challenging fundraising environment – to expand into new markets such as mining and manufacturing in 2025. Proceeds will also go toward targeting new geographies including the Middle East, Europe, United States and Southeast Asia, supported by their new partnership with Kibo Invest and Openspace.

“This new funding is a testament to the hard work of our team, our focus on being a commercially viable cleaner solution for businesses around the world, and the commitment from our investors in creating an emission-free future for industries,” said Anthony Stewart, CFO at Ampd Energy. ‘We’re looking ahead to accelerating our growth, entering new verticals and delivering even more innovative solutions to our customers globally.”

“We are particularly impressed by Ampd Energy’s visionary leadership and their sharp focus on executing a clear strategic roadmap,” said James Marshall, CEO of Kibo Invest. “Their commitment to excellence resonates with our own investment philosophy. We’re excited to support Ampd Energy’s expansion into new markets and industries, driving further growth and amplifying their positive impact on the global energy landscape. At Kibo Invest, we are dedicated to investing in forward-thinking companies that are shaping the future, and Ampd Energy is a prime example of that vision in action.”

Jessica Huang Pouleur, Partner at Openspace, agrees. “We’re pleased to back Ampd Energy, which has demonstrated impressive current traction to date and are, even now, just starting to realize the full potential of their energy storage solutions in Southeast Asia and globally. The backbone of the business is a committed and strong management team, who have shown time after time what it takes to build in a commercially viable yet impactful way. We’re looking forward to partnering with Ampd Energy to deliver the significantly reduced reliance on diesel that their innovations make possible.”

Ampd Energy’s Enertainer and Ampd Silo ESS provides clean, affordable, stable and emissions-free futures for industries all over the world, along with valuable data-driven insights, providing 24/7 real-time monitoring and problem diagnostics, thanks to their robust proprietary software.

For more information on Ampd Energy and its Enertainer and Ampd Silo ESS, go to https://www.ampd.energy.

About Ampd Energy
Ampd Energy is driving the global energy transition on construction sites and heavy industries through the creation of state-of-the-art energy storage systems (ESS), connectivity software and data science to electrify, connect and optimize the industrial and construction sectors. Brandon Ng co-founded Ampd Energy in 2014. The company enables smart, fully automated, emission-free and connected construction sites of the future with highly efficient and scalable energy management. For more information, go to https://www.ampd.energy.

About Kibo Invest
Kibo Invest is an investment office focused on driving innovation and sustainable returns. Through its climate tech fund, it invests in companies that are revolutionizing industries and addressing urgent climate challenges. Based in Singapore, and investing across continents, it leverages its global network to identify and support high-potential ventures. www.kiboinvest.com

About Openspace
Openspace is a Southeast Asia focused investment firm, backing transformative companies where tech meets life. It now manages over US$800 million across four early-stage and one growth fund, with offices in Indonesia, Singapore, Vietnam, Thailand, Philippines and Malaysia. It invests across sectors, but has a growing focus on climate-tech. Its portfolio includes GoTo, Kredivo, Love, Bonito, Igloo, Finnomena, Sarisuki and Fano. www.openspace.vc

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Health Commons Project Completes Acquisition of OneHealthPort to Advance Healthcare Innovation and Access across Washington State

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SAMMAMISH, Wash., Nov. 5, 2024 /PRNewswire/ — Health Commons Project, a leading nonprofit dedicated to improving healthcare access and quality through technology and innovation, today announced it has completed the acquisition of OneHealthPort, Washington State’s Health Information Exchange (HIE) and prominent provider of health data solutions. This strategic acquisition underscores Health Commons Project’s commitment to expanding its impact by improving data interoperability, enhancing care coordination, and promoting public health across Washington.

The acquisition of OneHealthPort strengthens Health Commons Project’s position as a leader in health information technology, giving it the tools to support providers, health systems, and public health agencies with real-time, secure access to patient data. With the transition, the nonprofit organization will build on OneHealthPort’s mission to enhance the safety, efficiency, and effectiveness of healthcare delivery while ensuring the seamless exchange of health information for millions of residents in Washington.

Key Benefits of the Acquisition:

Enhanced Data Interoperability: By integrating OneHealthPort into its portfolio, Health Commons Project will further its ability to connect health and social care providers such as fire departments, schools, rural pharmacies and community-based organizations across the state, ensuring critical patient data is available when and where it’s needed.

Improved Care Coordination: The combined resources will help streamline patient transitions between different care settings, ensuring better outcomes and reducing unnecessary costs.

Support for Public Health Initiatives: With the expanded health data network, Health Commons Project will provide real-time, de-identified data insights to public health agencies, empowering them to respond to crises and monitor population health trends more effectively.

Increased Accessibility for Health and Social Care Providers: Health Commons Project will offer new, affordable and equitable ways for providers with limited or no IT staff to access critical health data and reports.

“This acquisition represents a significant milestone in our mission to transform health and social care for the better,” said Rob Arnold, Executive Director of Health Commons Project. “By bringing Washington’s HIE into our nonprofit network, we can empower more health and social care providers, public health agencies, and communities with the tools they need to deliver better, more connected care. We are excited to expand our capabilities to improve healthcare outcomes for all.”

OneHealthPort has served the state of Washington since 2002, providing a robust platform for healthcare organizations to share critical patient data securely and efficiently. Over 35,000 healthcare entities and 150,000 individuals currently use OneHealthPort, including hospitals, primary care providers, specialists, and public health agencies. This acquisition will allow these stakeholders to continue benefiting from the services they rely on while gaining access to Health Commons Project’s expanded suite of health and social care solutions.

“As part of Health Commons Project, we will be able to build on our strong foundation and offer even greater value to our partners and the healthcare community,” said Kerry Tye, Executive Vice President of Operations of OneHealthPort. “Our shared mission of using health data to improve patient outcomes will be more achievable than ever.”

Next Steps

Health Commons Project and OneHealthPort do not anticipate users will experience any material changes or disruptions to services when OneHealthPort officially becomes HCP OneHealthPort, LLC, on 1/1/2025. In addition, the organization plans to roll out new features and tools aimed at enhancing the HIE platform’s functionality and accessibility.

About Health Commons Project

Health Commons Project is a 501(c)(3) nonprofit, committed to leveraging technology and data to advance healthcare innovation, access, and equity. By providing cutting-edge solutions to healthcare providers, public health agencies, and other stakeholders, Health Commons Project aims to improve health outcomes for underserved communities and drive systemic change.

About OneHealthPort

OneHealthPort is a state-leading health information exchange dedicated to improving the quality and coordination of healthcare across Washington state. By facilitating the secure and efficient exchange of health data between healthcare providers, OneHealthPort helps ensure that patients receive better, more informed care.

View original content to download multimedia:https://www.prnewswire.com/news-releases/health-commons-project-completes-acquisition-of-onehealthport-to-advance-healthcare-innovation-and-access-across-washington-state-302296120.html

SOURCE Health Commons Project

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Introducing the Next Generation of 10-inch T1 Slim Subwoofers by Rockford Fosgate®

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TEMPE, Ariz., Nov. 5, 2024 /PRNewswire/ — Rockford Fosgate, a leader in high-performance audio systems, is thrilled to unveil the next generation of T1 Slim Subwoofers. The new T1 series of slim subwoofers deliver next-level reliability and tactile bass performance, offering improved responsiveness and exceptional thermal management. Available in both sealed and ported options, the line of subwoofers is designed for the tightest installations, while still providing class-leading bass output.

The 500-watt subwoofers have been re-engineered with more mass to fit in smaller enclosures and includes upgrades like a new surround and better heat management.  The “P” (ported) version is designed for ported enclosures and work best in open-air environments (topless/convertible).  The “S” sealed version is designed for smaller sealed enclosures and work best in closed environments (truck cab).

The voice coil now uses pure copper wire for better conductivity, paired with a new composite former to dissipate heat and reduce distortion. Additionally, an aluminum spider spacer improves cooling.  The suspension utilizes a new polymer surround, made using an advanced NCDI (Nano Cell Direct Injection) process to enhance efficiency and durability without risking dry rot.

“With the ever-increasing popularity of compact SUV’s, pickups, crossovers, and EV’s, less volume is available for a consumer to dedicate towards a subwoofer. Yet the new T1Se subwoofers are the culmination of the latest advancements in simulation software, materials, textiles, allowing customers to have the best of both worlds,” said Wayne Connolly, Vice President of OE Business Development.  

The four models: T1S1-10P / T1S2-10P / T1S1-10S / T1S2-10S will be available in January through Rockford Fosgate dealers and at rockfordfosgate.com

For further details, visit rockfordfosgate.com.

About Rockford Fosgate

Setting the standard for excellence in the audio industry, Rockford Corporation markets high-performance audio systems under the brand Rockford Fosgate® for the mobile, motorsport, and marine audio aftermarket and OEM market.  Headquartered in Tempe, Ariz., Rockford Corporation is a wholly owned subsidiary of Patrick Industries, Inc. (NASDAQ: PATK).

View original content to download multimedia:https://www.prnewswire.com/news-releases/introducing-the-next-generation-of-10-inch-t1-slim-subwoofers-by-rockford-fosgate-302294777.html

SOURCE Rockford Fosgate

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Sinochem Holdings secures over $13 billion in procurement at 7th CIIE, enhancing global industrial collaboration

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SHANGHAI, Nov. 5, 2024 /PRNewswire/ — The 7th China International Import Expo (CIIE) opened at the National Exhibition and Convention Center in Shanghai, China on November 5, 2024. Sinochem Holdings, one of the world’s leading chemical conglomerates, participated in the event for the seventh consecutive year. Leveraging its international operations, the company organized five overseas subsidiaries for the event to deepen global industrial cooperation and share opportunities in the Chinese market.

During a dedicated signing ceremony, Sinochem Holdings secured procurement agreements with over 20 companies from more than 10 countries and regions, including Saudi Arabia, Kuwait, Iraq, Japan, France, Malaysia, the US, Germany, India, Thailand, and China’s Taiwan region. These agreements spanned various sectors, such as crude oil, petroleum products, high-quality chemicals, food, agricultural products, high-end intelligent equipment, technology research, and digital production services, totaling over $13.6 billion.

Sinochem Holdings emphasized its strategy of expanding diverse import channels to ensure supply chain stability. Partnerships with renowned companies such as Saudi Aramco, Kuwait Petroleum, Mitsui & Co., Ltd., Vitol Group, TotalEnergies, CHIMEI, Kao Corporation, and Sri Trang Group enabled the import of high-quality crude oil, petroleum products, methanol, engineering plastics, emulsifiers, industrial salt, and natural rubber. By collaborating with upstream energy and chemical companies, Sinochem Holdings is enhancing quality import channels to stabilize domestic supply chains.

Furthermore, Sinochem Holdings focuses on new productive forces and is committed to promoting high-quality development in domestic industries. The company has been dedicating to enhancing the business presence of its overseas subsidiaries in China, empowering domestic industries with advanced global technologies. Five participating subsidiaries—Syngenta Group (Switzerland), Adisseo (France), Elkem (Norway), KraussMaffei (Germany), and Prometeon Tyre Group (Italy)—showcased innovative technologies and solutions in areas like biotech breeding, digital agriculture, animal nutrition, new chemical materials, low-altitude economy, additive manufacturing, high-end tires, and green low-carbon technologies. These companies signed multiple supply agreements with Chinese clients at the CIIE, generating sales exceeding $1.5 billion

SOURCE Sinochem Holdings

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