Amped Innovation, a designer and manufacturer of solar-powered appliances and solar power production and direction equipment, announced today that it has closed on a Series A equity funding totaling more than $3.3 million. This funding accelerates Amped’s capacity to bring high-quality, affordable solar-powered appliances to market, serving growing requirements from electricity supply businesses, utilities and miniature – and micro-grid suppliers for superior energy solutions.
A social venture, Amped Innovation generates products which help individuals living under $4 daily to raise their incomes using affordable productive use power. The business is developing a new generation of highly efficient DC appliances, focusing on televisions, cold-chain, water pumping and petrol generator replacement solutions which are affordable to low-income segments. The Series A funding will help the company bring present and future product innovations to scale. This equity capital will be employed to grow its sales, manufacturing and engineering teams to encourage its expansion as a B2B electricity and appliance firm working with last-mile distributors and SMEs.
With its new generation of efficient, income-generating appliances, Amped’s products spark the conversion of latent energy requirement to actual demand in off-grid areas by finally making these goods and electricity systems economically viable. There continue to be close to 1 billion people in emerging countries which have power. A significant part of the power demand in these areas is and will continue to be given by distributed solar companies, thus creating new kinds of power distribution utility networks. Amped’s best-in-class efficient appliances meet the needs of vendors and are affordable to low-income inhabitants, helping families move from poverty by unlocking rural energy access.
Amped Innovation was set in 2015 by product engineers Kurt Kuhlmann and Andi Kleissner. The company’s staff has significant experience creating energy, health care, light and water purification products, together with expertise in sub-Saharan Africa and Asia.
“The conclusion of our Series A financing marks the beginning of an exciting and critical new chapter for Amped Innovation,” explained Andi Kleissner, Co-Founder and Co-CEO of Amped Innovation. “We’re eager to associate with distributors to scale the reach of our ultra-affordable, off-grid, electricity products, providing end users with energy accessibility that starts with home lighting and scales within 10X to power small companies, all from the same affordable WOWsolar base platform.”
“Amped’s solutions address the issue of appliances adapted to spread energy solution and thereby match the range of energy accessibility businesses currently focusing on past mile distribution. This investment is therefore fully aligned with the mission of ENGIE Rassembleurs d’Energies to promote access to sustainable energy for everybody.”
Anne Chassagnette, CEO of Rassembleurs d’Energies and ENGIE Chief Sustainable Officer
Gilles Vermot Desroches, SVP Sustainable Development of Schneider Electric and also President of Schneider Electric Energy Access, stated: “We’re convinced Amped Innovation will be a significant contributor to the essential off-grid energy ecosystem. Their appliances allow individuals to take more energy to a new level and actually change their lifestyles. We are extremely proud to be among Amped’s first supporters and share their efforts toward affordability and efficacy.”
By asking clients what they would like to do using their power, we have seen Amped reinvigorate excitement in the sector and develop a vision of a solar-powered ecosystem of products designed to replace diesel fossil fuels and power business activity in the planet’s fastest growing markets.”
