AMPECO: Explained
Welcome to ‘Portfolio: Explained,’ a series dedicated to exploring the dynamic world of startups within our portfolio. Our goal is to unravel the complexities of these innovative companies, offering easy-to-understand, clear, and concise explanations of their advanced technologies and solutions.
In this edition, we’re focusing on AMPECO, a standout innovator in the electric vehicle (EV) charging sector. Let’s explore how AMPECO is electrifying the future, one charge at a time.
Origin Story:
AMPECO, a Bulgarian startup, emerged from the founders’ realization of a gap in the EV charging market. Initially eyeing a venture in car-sharing and EV charging infrastructure, they quickly discovered that the main challenge of this growing market lies in the lack of sophisticated EV charging management software. Seizing this opportunity, AMPECO was born to fill this crucial void.
How did you come up with the idea and what is your personal relationship with the industry?
Orlin Radev (Founder, CEO of AMPECO) : I was exposed to the electrification of vehicles back in 2010 when I was starting a company that intended to do conversions of conventional cars to electric ones. This is when I drove an EV for the first time, and while it was less than impressive and far from what EVs are today, even then, I was sold on it, and I knew the future of vehicles is electric. I wanted to be part of this transition somehow, and it took 8 years until I came up with an idea worth pursuing. I combined my extensive experience in software product development with my passion for e-mobility, and together with my co-founders, we started AMPECO. The exact solution that we came up with was the result of research and figuring out what problems in e-mobility are big enough and complex enough to tackle. To be honest, the first idea we had was related to shared EV fleets, and this is how I was exposed to EV charging as a topic while doing further research, I realized this is a huge challenge of its own as it’s at the intersection of transportation, energy, and digitalization. It’s not obvious how much more there is below the surface. This is the kind of thing I like to work on as these are often overlooked and not understood by the mainstream, leaving an opportunity for far-sighted entrepreneurs to tackle something big that others may not even realize exists.
What Does AMPECO Do?
AMPECO is an end-to-end white-label software solution that enables EV charging providers to launch, optimize, and scale their business efficiently. The solution includes a comprehensive charging management platform, a user-friendly web portal, and mobile apps for EV drivers. AMPECO’s customers (charge point operators) can pick and choose the hardware providers they want to work with while delivering a top-notch experience to EV drivers. The platform enables operators to integrate with third-party software providers and develop custom functionality easily.
Explained: The AMPECO Solution in Simple Terms
The Problem:
Imagine a world where electric vehicles (EVs) are as common as smartphones. But there’s a catch — charging these EVs can be tricky because of multiple factors:
Diverse Charging Stations and EV Manufacturers: The market relies on a wide range of charging stations and EV models, each with its own specifications and requirements. This diversity necessitates adaptable and compatible charging solutions.
Different Industry Protocols: The EV charging industry is marked by a variety of protocols and standards, which can lead to compatibility issues and necessitate the need for universal or adaptable solutions.
Local Regulations are the varied rules and standards set by different regional authorities that impact the installation, operation, and maintenance of EV charging stations. Navigating these regulations can be a daunting task due to their diverse nature.
User Behavior Preferences: EV drivers’ charging habits and preferences vary significantly in different markets. Understanding and catering to these varied preferences is crucial for efficiently distributing and utilizing charging infrastructure.
Roaming: “Roaming” in EV charging is a concept similar to mobile phone roaming. It allows electric vehicle drivers to use charging stations across different networks without the need for separate memberships or accounts for each network. This means more hassle for the charge point operators who need to make this happen.
AMPECO steps in like a master puzzle-solver. They’ve created a software platform that acts as the brain behind EV charging stations. Think of it like a universal operating system, running charging infrastructure.
White-Label EV Charging Software: AMPECO provides a fully branded EV charging management platform that includes customizable mobile apps, web interfaces, and a backend portal for customers and employees. This enables charge point operators to offer EV charging solutions under their own brand name and colors. even while using AMPECO’s advanced EV charging technology behind the scenes.
API & Integrations: AMPECO’s comprehensive API (Application Programming Interface) not only facilitates robust integration with existing systems such as billing, invoicing and user management but also enables the creation of custom integrations. It allows operators to develop custom functionality and craft a unique user experience within their mobile app or web interface.
Universal Compatibility: Just like a universal remote control works with any TV, AMPECO’’s software works with various charging stations from over 80 manufacturers. This means more options for EV charge-point operators and their clients.
Smart Charging: Through smart charging, operators monitor, manage, and limit charging stations in order to optimize energy consumption. It allows EV drivers to control when and how fast an EV is charged in a way that saves them money and protects the grid. Smart charging techniques leverage time and power, resulting in different profiles and strategies where charging can speed up, slow down or stop to avoid peak hours or grid congestion. It also allows more renewable energy resources, such as solar and wind power, to be integrated into the energy system.
Flexible Payment Solutions: With integrations like Stripe, Braintree, Rapyd and over a dozen more, AMPECO ensures smooth payment transaction management for operators. On the other hand EV drivers can rely on various payment methods such as RFID cards, in-app balances, subscriptions, ad-hoc via payment terminals, corporate billing, etc.
Security: AMPECO has proudly obtained the ISO 27017 and ISO 27018 certifications in a significant stride towards reinforcing customer trust. These globally recognized standards, set by the International Organization for Standardization (ISO), signify AMPECO’s dedication to world-class data security and privacy. Building on the ISO 27001 certification received in 2021, this achievement further enhances AMPECO’s commitment to data security, akin to adding advanced locks to an already secure vault.
Award-Winning Excellence: AMPECO has achieved notable recognition in the industry, marked by several prestigious awards. The company was honored with the Product Leadership Award by Frost & Sullivan, acknowledging its excellence and innovation in product development. Additionally, AMPECO’ earned the “The Digital Climate Solution Prize” at the PwC ESG Awards Ceremony, further cementing its role as a leader in environmentally sustainable technology. Recently, the company also secured a remarkable position, ranking 15th in the “Deloitte Technology Fast 50 2023 Central Europe,” a testament to its rapid growth and significant impact in the technology sector in Central Europe. These recognitions are just a few examples of the accolades AMPECO has earned, reflecting its commitment to excellence and innovation in the technology industry.
Sustainability: AMPECO, recognized as a B Corp certified and EcoVadis Silver-rated company, demonstrates a strong commitment to Environmental, Social, and Governance (ESG) standards, evidenced by its rigorous assessment processes. By adopting AMPECO’s white-label solution, clients can directly benefit from its verified sustainability performance. This solution is tailored to assist with ESG regulatory and voluntary reporting requirements, including EU CSRD, TCFD, and UK SDS, among others.
Additionally, AMPECO’s dedication to sustainability in the automotive and mobility sector has been acknowledged with The Arthur D Little Sustainability Award, highlighting its remarkable contributions to environmental, societal, and governance impacts
The Impact: AMPECO’s approach is working wonders. With 130+ customers over more than 45 markets worldwide, AMPECO is like a conductor of a vast, harmonious orchestra of EV chargers, making the experience seamless for users and operators alike.
The Journey Ahead:
With a recent $13M Series A funding led by BMW iVentures and LAUNCHub Ventures, AMPECO is poised to expand further into the North American market and beyond. This investment underscores their potential and accelerates their mission to revolutionize the EV charging sector globally. AMPECO has recently expanded its global presence by opening a new office in Paris, alongside hiring salespeople in the USA to provide localized support to valued clients in their key markets.
AMPECO stands as a beacon of innovation in the EV charging landscape. As they continue to grow and evolve, their journey is a testament to the power of recognizing and seizing opportunity. With AMPECO, the future of EV charging looks electrified, smart, and seamlessly integrated.
Next in “Portfolio Explained”: Stay tuned for our next feature, where we’ll unveil another intriguing company in our portfolio, breaking down complex technologies into understandable insights.
