bp today took its first major step into electrification in the US with the acquisition of AMPLY Power, an electric vehicle 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 earnings from its global convenience and mobility businesses – increasing from around $5 billion in 2019 – while delivering returns in the range of 15-20%. During this time, bp plans to grow its global network of EV charging points from around 11,000 today to more than 70,000.
Founded in 2018, AMPLY Power aims to make EV adoption easy for fleets. The California-based firm has two offers for fleet operators:
– Fully financed Charging-as-a-Service (CaaS) – AMPLY Power provides solutions for the charging of customers’ fleets, including the procurement and installation of hardware, software and operational and maintenance costs. Customers sign 5-to-10year agreements for these services and AMPLY Power charges customers a flat usage rate ($/kWh or $ per mile driven).
– Customer-financed Software-as-a-Service (SaaS) – For customers who prefer to own their charging infrastructure, AMPLY Power offers a software and operate model where customers pay an annual license and service fee for software and managed services. AMPLY Power can manage these customers’ fleet electrification infrastructure services.
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.
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.