A new beginning for AMPLY Power with bp
We built something the world needs
When we founded AMPLY Power in 2018, we envisioned a way to make the transition to EV fleets seamless, efficient and affordable for public and private fleets. We knew firsthand the challenges facing fleets trying to go electric, from infrastructure to financing, and saw the great potential for a new, end-to-end energy management and charging solution. The success and adoption we have achieved in the years since have validated this vision and pushed us to dream even bigger. Now, we take our next step.
Today, we are thrilled to announce that AMPLY Power has been acquired by bp. This acquisition is a significant milestone for our company, marking a step-change in our growth trajectory within bp’s unique innovation ecosystem and diverse portfolio of companies while maintaining our own focused management team. With the backing from bp, AMPLY Power is positioned for a new period of scale and innovation.
From startup to scale
As we contemplated the future of our company recently, one of the key input parameters was “how can we most impactfully and expeditiously reduce carbon emissions from transportation?” Where startup companies excel is in demonstrating innovative new products and business models; once an idea has been proven, as is the case with AMPLY, the question becomes how to bring your solution to a larger market and truly make an impact. For AMPLY, we found the answer was to dramatically add scale to our offerings, backed by one of the largest energy companies in the world that’s also committed to transforming its own business.
We could not have asked for a better strategic partner in bp, who has laid out an ambition to be a net zero company by 2050 or sooner and a new strategy that will see the company pivot from an international oil company producing resources to an integrated energy company delivering solutions for customers. That strategy is built around three focus areas of activity including low carbon electricity and energy. By joining with bp, we are able to elevate our turnkey approach to electric fleet operations by leveraging the resources and global scale of one of the world’s leading energy companies.
Customer-focused on the mission to net-zero
Yet, our unique value proposition remains unchanged to our customers: enabling fleet operators to convert seamlessly to zero-emissions EVs with a target of 99% vehicle uptime while leveraging low-cost energy. We’ll be further building out our team to realize our vision, with the founding team remaining in place to guide and direct the company’s progress.
This partnership will help bring our suite of solutions, including Charging-as-a-Service (CaaS), our OMEGA™ Charge Management System, and our INRUSH containerized EV charging solution, to customers and sectors in new geographies, helping us play a role in bp’s plan to operate 70,000 EV charge points globally by 2030. As we expand, we remain committed to interoperability and providing the best solutions for our customers’ fleet charging requirements.
We believe that AMPLY Power can play an important role in contributing to bp’s continued transformation. bp recognizes that working with companies like AMPLY Power is critical to advancing progress toward achieving net-zero ambitions and renewable energy investment goals. The transaction is bp’s first large-scale move into EV charging for U.S. fleets, which is part of the company’s greater strategy to scale up its next-gen mobility business and double earnings from its global convenience and mobility businesses by 2030. bp can now leverage AMPLY Power’s technology and knowledge to advance its presence in growing sustainable mobility sectors while also taking steps to reduce the carbon intensity of its products and services through renewable energy solutions.
Looking ahead to a sustainable energy future
Today’s climate crisis calls for unprecedented collaboration between energy innovators and the energy industry as we aim towards building a more inclusive and sustainable energy future together. Transportation remains a major source of greenhouse gas emissions, accounting for 26 percent of emissions in the U.S. alone in 2020. We are proud to play our part in helping bp with its ambition of reducing emissions and ultimately becoming a net-zero business by 2050 or sooner.
For our team, AMPLY Power’s journey to date has been one of the most exciting and challenging periods of our lives. We are incredibly proud of our success and the relationships that we have built with our customers and partners. It is now clear that the transition to clean energy can be simplified, affordable, and seamless, even for the largest and most active public or private fleets. But this is just the beginning. With the support of our new parent company, bp, we will build and implement EV charging infrastructure for the future. The clean energy horizon has never looked brighter.
Read more about the acquisition in our press release here.