Market Overview

Ample Secures $31 Million Series A Financing Round

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Ample, a technology company focused on solving the energy delivery
challenge for electric cars, co-founded by Khaled Hassounah and John de
Souza, announced today that it has closed a $31 million Series A round
of financing. Shell Ventures led the investment round with participation
from Moore Strategic Ventures, Repsol Energy Ventures, Hemi Ventures,
and TRIREC. The financing will be used to deploy Ample's technology in
multiple locations over the coming months. Steve McGrath of Shell
Ventures and James McIntyre of Moore Strategic Ventures will be joining
Ample's Board of Directors.

"Building a scalable solution for charging electric vehicles requires a
new approach to infrastructure, and partners who are committed to
developing electrification as the new energy downstream," said Khaled
Hassounah, CEO and co-founder of Ample.

Ample has invented an economical, rapidly deployable and widely
accessible platform that delivers a full charge to any electric car in
minutes. An alternative to traditional charging, Ample uses autonomous
robotics and smart-battery technology, making it feasible for anyone to
own an electric car regardless of driving needs, economic means, or
geographic location.

"EVs in the light – and medium duty sectors are steadily gaining market
share," said Steve McGrath, Investment Director of Shell Ventures.
"Combining Ample's technology with Shell's existing retail network for
re-fueling and our growing position in power could help us achieve our
aspirations to grow a large new business in EV energy solutions."

"We have looked deeply into the electrification ecosystem," said James
McIntyre of Moore Strategic Ventures. "We believe Ample's proprietary
robotics and battery technology solution can help solve one of the
largest constraints to wide-scale adoption of electric vehicles. We are
excited to partner with the company, Shell Ventures and Repsol Ventures
to help make Ample's vision a reality."

As governments in Europe, Asia, America and other parts of the world
impose tough emissions targets to meet the global climate change
commitment, Ample was born out of the need for innovation to rapidly
meet those goals. "As an integrated energy company, we join the growth
of the electrification in the mobility sector," said Luís Casado from
Repsol, "and we're looking forward to Ample's near-term solution to meet
Europe's goals."

About Ample
Ample is a San Francisco based startup
co-founded by John de Souza and Khaled Hassounah. It aims to solve the
energy delivery challenge for electric transportation by utilizing
autonomous robotics and smart-battery technology. Ample has created an
economical, rapidly deployable and widely accessible platform that
delivers a full charge to any electric car in minutes. Ample aims to
make it possible to have "Electric Cars for Everyone". For more
information, contact info@getample.com

About Shell Ventures
Shell Ventures is the corporate venture
capital arm of Royal Dutch Shell plc ("Shell"). With major offices in
Europe, the USA, and China, Shell Ventures generally invests $2M-$20M
over the life cycle of the deal, in technology companies, business
models and growth plays to enhance the development of energy solutions
that have the potential to create substantial deployment value in Shell.
Continuing Shell's tradition in venture capital since 1997, Shell
Venture's investment focus includes oil & gas, renewable energy and
digital. It co-invests with other corporate investors, venture capital
funds and angels and will invest in both early stage and late stage
(growth capital) companies. For more information, visit www.shell.com/shell-ventures

About Moore Strategic Ventures, LLC
Moore Strategic
Ventures, LLC is the privately held investment company for Louis M.
Bacon, Founder and CEO of Moore Capital Management, LP.

About Repsol Energy Ventures
Repsol is a global company that
is present throughout the energy value chain. It has activity in 37
countries, employs more than 25,000 people and its products are sold all
over the world. The company has anticipated the energy transition with
the development of gas production projects, low emission businesses and
a multi-energy offer. It has leading projects in different disciplines
that have made it a reference in innovation, sustainability and
efficiency in the world of energy. Repsol Energy Ventures is the Venture
Capital fund of Repsol, which seeks to accelerate the incorporation of
innovative business models and technologies into the company's business
and processes. For more information, visit www.ventures.repsol.com

About Hemi Ventures
Hemi Ventures invests in early stage
startups in autonomous vehicles, artificial intelligence applications,
robotics, biotech, and other emerging technology sectors. We partner
with entrepreneurs whose cutting edge innovations unlock new frontiers
for human potential. Our tech rebels are trailblazing new markets as
they push the industry forward to overcome the limitations of today. For
more information, visit www.hemi.vc

About TRIREC Pte Ltd
TRIREC Pte Ltd is a Singapore-based
investment holding company founded in 2015 focusing on global
opportunities in the areas of renewable energy, clean technology and
sustainability. TRIREC aims to identify suitable equity investment
opportunities in early and growth stage companies which can potentially
provide significant long-term upside return performance. The team also
evaluates infrastructure investment projects that can provide consistent
cash flows to its investors. The full spectrum of TRIREC's investment
mandate allows it to support its portfolio partners from early stage
development to capital market phase and provides a balanced approach for
TRIREC's investment returns. Achieving long term sustainable and
positive impact to our environment while being able to leave behind a
better place for our next generation is imperative to our core values.
For more information, visit www.trirec.co

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