Resilient Power has announced to have secured USD 5 million in a seed funding round which was led by Energy Transition Ventures. Other investors that participated in the fundraising included Amazon's Climate Pledge Fund as well as the corporate venture capital arm of GS Group from Korea, GS Futures.

The fresh funds will be used to launch an electric vehicle charging pilot program with big fleet owners. The company also intends to expand its sales and marketing efforts for its next-generation energy routing platform.

Notably, Resilient Power was previously funded with USD 3 million in contracts and grants from the U.S. Department of Energy, the National Renewable Energy Laboratory, and Savannah River National Laboratory.

Kara Hurst, Amazon Vice President and Head of Global Sustainability, believes that electrifying the retailer’s delivery fleet is a vital part of reaching its The Climate Pledge target of net-zero carbon emissions by 2040. Amazon intends to have at least 100,000 electric vehicles on roads by 2030, which could further help in saving a million metric tons of carbon every year, Hurst added.

According to a statement from the Co-founder and Partner of Energy Transition Ventures Neal Dikeman, EV fast charging has been gaining significant momentum of late, especially in a market that is rapidly expanding and requires the size, cost, and power advantages it provides. Energy Transition Ventures is looking forward to working with The Amazon Climate Pledge Fund and the Resilient Power is revolutionizing the power grid, Dikeman added.

For those unaware, Resilient Power is a prominent North American manufacturer of revolutionary energy solutions that could transform the overall electric grid network. It is known to have a highly compact EV charging depot that connects directly to the existing network grid, further allowing clients to develop their respective EV fleets and public charging stations.

Source credits:

 https://www.prnewswire.com/news-releases/resilient-power-secures-5-million-seed-round-to-scale-low-cost-ev-fast-charging-technology-and-power-grid-resiliency-301409518.html