Houston – bp today took its first major step into electrification in the US with the acquisition of AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, transit and school buses, vans and light-duty vehicles.
This investment is aligned with bp’s plan to scale-up next generation mobility solutions, providing the fastest, most reliable and convenient network of charging and digital solutions for customers, including individual drivers and fleet operators.
By 2030, bp aims to nearly double earnings1 from its global convenience and mobility businesses – increasing from around $5 billion in 2019 – while delivering returns in the range of 15-20%. During this time, bp plans to grow its global network of EV charging points from around 11,000 today to more than 70,000.
Founded in 2018, AMPLY Power aims to make EV adoption easy for fleets. The California-based firm has two offers for fleet operators:
AMPLY Power’s innovative OMEGA Charge Management System software helps fleet operators manage energy costs and optimizes performance by providing real-time monitoring of EV charging operations and preventative maintenance for both vehicles and chargers.
Vic Shao, founder and CEO, AMPLY Power: “Our mission at AMPLY Power is to accelerate the transition to electric-powered fleets by offering comprehensive solutions that make it easy and cost-effective for operators to use EVs. Now, with support and backing from bp, we can scale our approach to reach new markets while bringing our unique expertise to bp’s broader electric fleet initiatives. bp shares our sustainability values and commitment to technological innovation, making this an opportunity to create a lasting positive impact on the environment and the economy.”
AMPLY Power was named on the 2021 Global Cleantech 100 list for the second year in a row, and currently has several customer partnerships, including the Logan Bus Company – the largest school bus provider for the New York City Department of Education – and the Anaheim Transportation Network in California.
Under the terms of the agreement, AMPLY Power will continue to operate independently as part of bp’s global portfolio of businesses. Financial details of the agreement are not being disclosed.
bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp is America’s largest energy investor since 2005, investing more than $130 billion in the economy and supporting about 230,000 additional jobs through its business activities. For more information on bp in the US, visit www.bp.com/us.
bp press office, US
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