Bangalore-based Exponent Power may need provide you with a approach to ship 15-minute speedy charging for electrical autos. The startup, which simply raised a $13 million Collection A, depends on a mixture of its proprietary battery pack and charging infrastructure to realize such a feat.
Exponent Power’s enterprise mannequin is geared in the direction of OEMs constructing business EVs for fleet functions. Ideally, the corporate works with the OEM to combine its battery pack, or e^pack, that may then be charged rapidly through Exponent’s community of chargers, or e^pumps. Earlier this month, Exponent introduced its first partnership with Altigreen, an Indian electrical cargo automobile producer, launching the Exponent-enabled Altigreen neEV HD, a three-wheeler that each firms say could be totally charged, from 0% to 100%, in quarter-hour.
The rub is that the battery pack solely prices that rapidly when it’s being charged on Exponent’s charging infrastructure — if the e^pack is being charged at an ordinary charging station, it’ll take about 60 minutes, based on the corporate. Likewise, the e^pumps don’t ship the identical speedy cost to all EVs, so the 2 should be scaled side-by-side. That is how Exponent hopes to monetize its power choices. It is going to earn income from each the sale of the battery pack to OEMs and the charging on a recurring foundation, based on Arun Vinayak, Exponent’s co-founder and CEO.
For comparability, Exponent’s enterprise mannequin is a considerably comparable mannequin to Gogoro, the Taiwanese firm that works with OEMs to combine its swappable batteries into their electrical two-wheelers whereas concurrently constructing out swapping stations across the nation.
Other than the monetization logic of together with the battery pack and charging infrastructure as a package deal deal, Vinayak says it simply is sensible to take action from a expertise perspective.
“15-min speedy charging is a two-sided downside,” mentioned Vinayak. “It’s not simply the battery but additionally the charger. The e^pump delivers 600A of present to the e^pack (15x trade commonplace) whereas managing particular person cell traits together with thermals to make sure security, lengthy battery life and efficiency consistency even at 50 levels Celsius. Since our expertise is current on either side, we’re capable of handle the stream of power way more effectively, safely and quickly.”
Constructing out such a community would require funds, which is the place Exponent’s Collection A is available in. The spherical, which was led by Lightspeed with participation from YourNest VC, 3one4 Capital and AdvantEdge VC, shall be used to scale up the e^pump community to 100 location factors in every metropolis Exponent expands into, beginning with Bengaluru and finally making its approach to New Delhi, based on Vinayak. The corporate additionally goals to deploy 2,000 Exponent-enabled autos as a part of its partnership with Altigreen.
Vinayak mentioned the e^pack is scalable throughout a number of kind elements, and Exponent Power is at the moment within the engineering section for partnerships in different segments, particularly three-wheeled passenger autos and four-wheeled cargo autos.
“Our main focus is business autos and our main buyer is anybody operating a fleet, from a single automobile proprietor to an aggregator of 1000s of autos,” Vinayak advised TechCrunch through e mail. “In India, business autos have the best per automobile power use-age. (Constitutes 10% of autos, however consumes 70% of our on-road power). This represents a extremely concentrated marketplace for an power firm like us because the phase is already satisfied of switching to electrical as EVs drive higher than their diesel counterparts. Nonetheless, the bottleneck for adoption is power, as gradual charging (3 to six hours) impacts operations. Due to this fact clients are pressured to go for massive batteries with quick life thereby making proudly owning the automobile costly.”