Ampd Energy (Ampd), a trailblazing startup and energy storage systems provider based in Hong Kong, has raised $8 million in an extension of Series A funding for global expansion.

Ampd said in a statement on Tuesday that MTR Lab Company Limited (MTR Lab) has partnered with technology investors 2150 and Taronga Ventures to co-invest in Ampd.

According to the statement, this collaboration aims to accelerate Ampd’s growth and transform the international construction industry with its all-electric replacement for diesel generators, driving carbon neutrality goals and enhancing sustainability in the sector.

The funding will also facilitate Ampd Energy’s expansion into the United Arab Emirates and the United States markets this year, while consolidating its presence in Australia and the United Kingdom.

In 2021, Ampd secured Series A funding led by 2150 and Taronga Ventures, setting the stage for its rapid ascent.

Building on its successful momentum, Ampd expanded to Singapore in 2021, entered the Australian and United Kingdom markets in 2022.

“This co- investment validates the importance of our energy storage solutions, empowers us to accelerate our expansion plans, and supports our research and development (R&D) work on new solutions,” said Brandon Ng, Co-Founder and Chief Executive Officer of Ampd.

According to him, the firm is currently in the final stages of developing a new hypermobile product, designed for daily movement to meet the needs of users in mobile worksites, like infrastructure projects.

“With the combined expertise and resources of our partners, we are confident in our ability to create a sustainable impact in the construction industry,” he added.

Founded in 2014, Ampd is a firm involved in manufacturing energy storage systems for construction sites.

Its systems are being deployed in construction projects run by property developers.

Ampd’s key operation is the Enertainer, a lithium-ion battery-powered solution that is nearly thirty-two times quieter and emits up to 85 percent less carbon dioxide (CO2) than traditional diesel generators.

To date, over 200 Enertainers have been deployed around the world.

These systems have prevented more than 28,000 tonnes of CO2 emissions, removed nearly 59,000 cars worth of air pollutants, and substantially reduced noise levels at construction sites.

The Enertainer also improves site safety by eliminating diesel handling, spills and fires, and it serves as a robust platform for data analysis, driving increased project efficiencies.

MTR Lab viewed the startup’s solutions as a critical driver of change in construction.

Its Managing Director Michael Chan said the co-investment gives the firm opportunity to contribute to carbon neutrality.

“This strategic partnership is a testimony to our support for sustainable technologies that contribute to a greener future and for Hong Kong startups with global ambitions,

“As more industry players begin to recognize the need to switch to low-carbon approaches in construction, we are excited to see Ampd grow into a globally competitive energy storage system provider,” he added.

It is noted that reducing carbon emissions as a result of electric energy systems at construction sites is also in line with the long-term goal of MTR, the parent company of MTR Lab, to achieve carbon neutrality by 2050.

Meanwhile, 2150 Partner and Co-Founder Christian Hernandez, said the firm firmly believes that Ampd’s state-of-the-art energy storage solutions have the potential to revolutionize the construction sector and drive significant environmental impact.

Taronga Ventures Co-Founder and Managing Partner Avi Naidu also said the electrification of construction sites is one of the key decarbonization pathways to reduce reliance on fossil fuels for the built environment.

“As the lead investor, we are delighted to support Ampd’s successful deployments with our real asset partners across Hong Kong, Singapore, Australia, the United Kingdom, the United Arab Emirates and elsewhere，

“We look forward to assisting their future expansion into other regions around the world,” he added.

With CO2 emissions from construction sites on the rise worldwide, Ampd opined energy storage systems with low-to-zero emissions must become the global construction standard if carbon neutrality goals are to be met.

The firm sees its alliance with 2150, Taronga Ventures and MTR Lab represents a significant step toward sustainable construction practices.

It opined that such alliances can propel the global transition to cleaner energy solutions, lower carbon emissions, and a more sustainable construction industry.

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