The GreenTech startup is enabling construction site decarbonisation with battery-powered generators and exploring global expansion plans with new funding support

Hong Kong – 27/06/2023 – MTR Lab Company Limited (“MTR Lab”) is proud to partner with leading technology investors 2150 and Taronga Ventures to co-invest in Ampd Energy (“Ampd”), the trailblazing startup and energy storage systems provider. This collaboration aims to accelerate Ampd’s growth and transform the international construction industry with its all-electric replacement for diesel generators, driving carbon neutrality goals and enhancing sustainability in the sector. With a total investment of US$8 million, this extension of Ampd’s Series A funding will facilitate the startup’s expansion into the United Arab Emirates and the United States markets this year, while consolidating its presence in Australia and the United Kingdom.

Transforming industry practices with sustainable solutions that work

Founded in 2014, Ampd is a market leader in manufacturing energy storage systems for construction sites. A fast-growing energy storage system player, Ampd’s systems are being deployed in construction projects run by leading property developers. At the heart of Ampd’s operation is the Enertainer, a lithium-ion battery-powered solution that is nearly thirty-two times quieter and emits up to 85% less carbon dioxide (CO₂) than traditional diesel generators. To date, over 200 Enertainers have been deployed around the world. These systems have prevented more than 28,000 tonnes of CO2 emissions, removed nearly 59,000 cars worth of air pollutants, and substantially reduced noise levels at construction sites.

Ampd’s innovative energy solutions offer more than just environmental benefits. The Enertainer also improves site safety by eliminating diesel handling, spills and fires, and it serves as a robust platform for data analysis, driving increased project efficiencies.

Co-investment empowers expansion into key markets with portable solutions

In 2021, Ampd secured Series A funding led by 2150 and Taronga Ventures, setting the stage for its rapid ascent. Building on its successful momentum, Ampd expanded to Singapore in 2021, entered the Australian and United Kingdom markets in 2022 and has now set its sights on establishing a presence in the United Arab Emirates and the United States in 2023.

MTR Lab, as a GreenTech advocate and investor in Ampd, views the startup’s solutions as a critical driver of change in construction.

“We are excited to partner with 2150 and Taronga Ventures in this co-investment that allows us the opportunity to contribute to carbon neutrality,” said Mr Michael Chan, Managing Director of MTR Lab. “This strategic partnership is a testimony to our support for sustainable technologies that contribute to a greener future and for Hong Kong startups with global ambitions. As more industry players begin to recognise the need to switch to low-carbon approaches in construction, we are excited to see Ampd grow into a globally competitive energy storage system provider.”

Reducing carbon emissions as a result of electric energy systems at construction sites is also in line with the long-term goal of MTR, the parent company of MTR Lab, to achieve carbon neutrality by 2050.

“As the lead investor, 2150 recognises Ampd’s potential for global impact and is proud to partner with MTR Lab and Taronga Ventures to support the startup’s growth. We firmly believe that Ampd Energy’s state-of-the-art energy storage solutions have the potential to revolutionise the construction sector and drive significant environmental impact,” said Mr Christian Hernandez, Partner and Co-Founder of 2150.

“The electrification of construction sites is one of the key decarbonisation pathways to reduce reliance on fossil fuels for the built environment,” said Mr Avi Naidu, Co-Founder and Managing Partner of Taronga Ventures, a company renowned for its commitment to sustainability in the real asset sector. “As the lead investor, we are delighted to support Ampd’s successful deployments with our real asset partners across Hong Kong, Australia, the United Kingdom, the United Arab Emirates and elsewhere. We look forward to assisting their future expansion into other regions around the world.”

“Ampd Energy is thrilled to have the support and confidence of 2150, Taronga Ventures and MTR Lab,” said Mr Brandon Ng, Co-Founder and CEO of Ampd Energy. “This co-investment validates the importance of our energy storage solutions, empowers us to accelerate our expansion plans, and supports our R&D work on new solutions. We’re currently in the final stages of developing a new hypermobile product, designed for daily movement to meet the needs of users in mobile worksites, like infrastructure projects. With the combined expertise and resources of our partners, we are confident in our ability to create a sustainable impact in the construction industry.”

Tackling environmental challenges head on by advancing industry practices

With CO₂ emissions from construction sites on the rise worldwide, energy storage systems with low-to-zero emissions must become the global construction standard if carbon neutrality goals are to be met. Ampd’s alliance with 2150, Taronga Ventures and MTR Lab represents a significant step toward sustainable construction practices. Together, such alliances can propel the global transition to cleaner energy solutions, lower carbon emissions, and a more sustainable construction industry.

Read the article on DealStreetAsia: https://www.dealstreetasia.com/stories/ampd-energy-funding-349935

Read the article on South China Morning Post: https://www.scmp.com/business/banking-finance/article/3225511/mtr-lab-invests-hong-kong-battery-powered-energy-storage-system-provider-ampd-energy-fund-expansions