Posted November 11 , 2021
As increasing electric vehicle growth pressures the electric power infrastructure and the need for EV fast-charging increases, Resilient Power announced the closing of a $5 million seed round. The investment for the provider of solid-state transformer-based electric vehicle (EV) fast charging technology was led by Energy Transition Ventures, with investment from Amazon’s Climate Pledge Fund and GS Futures, the corporate venture capital arm of GS Group from Korea.
Resilient Power was previously funded through $3 million in contracts and grants, including from the U.S. Department of Energy, Savannah River National Laboratory and the National Renewable Energy Laboratory (NREL).
“Electrifying Amazon’s delivery fleets is a critical piece of ensuring our company meets the goals of The Climate Pledge and achieves net zero carbon emissions by 2040,” says Kara Hurst, Amazon’s vice president and head of worldwide sustainability. “We plan to have 100,000 electric vehicles deployed on the roads by 2030, which is projected to save millions of metric tons of carbon per year. Resilient Power is building products that accelerate the deployment of EV charging systems everywhere we deliver packages to customers, and its technology could help bolster our infrastructure to support our vehicles and drivers.”