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[Funding alert] CA-based AmpUp Secures $1.7M in Funding

CA-based AmpUp Secures $1.7M in funding by the State of Connecticut’s Public Utility Regulatory Authority (PURA) for EV charging demand flexibility.

CA-based AmpUp Secures $1.7M in funding by the State of Connecticut’s Public Utility Regulatory Authority (PURA) for EV charging demand flexibility.

The grant was awarded on December 13th, 2023 under PURA’s ‘Innovative Energy Solutions’ program, a statewide initiative to identify, pilot, and scale innovative ideas that enable a decarbonized, affordable, and equitable electric grid for Connecticut.

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The pilot aims to provide grid operators with a scalable solution to balance energy demand during peak periods by decreasing load at EV stations, ultimately leading to cost savings for ratepayers.

Tom Sun, CEO & Cofounder of AmpUp said, “The AmpUp team could not be more excited to receive this grant. We are eager to accelerate the EV transition in the state by exploring EV charging management capabilities with utilities, station owners, and EV drivers. We are investing heavily in the State of Connecticut and excited to see opportunities like this grow local jobs in addition to helping the state meet their air quality goals”.

AmpUp was 1 of 7 final awardees among more than 50 applicants, and the only EV charging company selected for this phase of funding. The project is planned to kick off in 2024 and is tied to state-goals of meeting clean air standards, growing EV adoption, and supporting underserved communities.

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Drew D’Alelio, Senior Investment Associate of Connecticut Innovations said: “EV charging should be simple, affordable, and accessible. With this award, AmpUp’s innovative software and energy management technology will be positioned to shine, driving meaningful economic and environmental benefits for CT residents and simplifying the EV transition. CI’s Climate Fund is excited to continue supporting AmpUp as they set up their CT office, grow more CT jobs, and embark on this innovative project.”

According to the U.S. Department of Energy’s Alternative Fuels Data Center, AmpUp’s network represents over 30% of all networked Level 2 charging stations in the State of Connecticut as well as over 94% of all private chargers in the state.

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About AmpUp

In 2018, AmpUp was established and supported by the YCombinator accelerator. The company was founded by owners of electric vehicles to address an issue that many others encounter: having an electric car but not having access to home charging. In order to create a shared charging network, AmpUp first created a smartphone app.

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