Indian EV Start-up Exponent Energy Makes Rapid Charge Breakthrough

Exponent Energy, a startup based in Bangalore, might have developed a new way of providing a 15-minute rapid charge for electric vehicles (EVs). To achieve this, Exponent Energy will use its proprietary battery pack and charging infrastructure to achieve the rapid charging mechanism.

Exponent Energy makes rapid charging for electric vehicles

Exponent Energy is a startup company that raised $13 million through a Series A funding round. The startup‘s business model targets manufacturers of commercial EVs. The company also works with these manufacturers to integrate its battery packs that can be charged rapidly using its network of chargers, better known as e^pumps.

Exponent recently unveiled a partnership with Altigreen, an electric cargo manufacturing company based in India. Through the partnership, the Exponent supported the launch of the Altigreen neEV HD. The three-wheel automobile can be fully charged within 15 minutes.

However, the battery pack needs to be charged using the Exponent charging infrastructure to achieve this rapid charge. It will take 60 minutes to achieve full charge if charging through the standard charging station.

Moreover, the rapid charge mechanism does not apply to all EVs. The EVs need to be scaled in line with the battery packs. Through this, Exponents hopes to create a solid monetization model while earning revenues from selling the battery packs, working with manufacturers, and charging the EVs regularly.

The founder and CEO of Exponent, Arun Vinayak, commented on this development, adding that the battery pack and the charging infrastructure would be offered as a package deal. He said that this strategy was feasible from a technology aspect.

Vinayak said the 15-minute rapid charge system was “a two-sided problem.” The e^pumps deliver 600A to the e^pack, which is 15 times higher than the industry standard. It also managed the individual features of the cells, such as thermals, to guarantee safety, battery longevity, and performance consistency.

Exponent’s Series A funding round

Exponent requires funds to build its products. To achieve this, the company secured a Series A funding round spearheaded by Lightspeed. The other companies participating in the funding round include 3one4 Capital, YourNest VC, and AdvantEdge VC. The raised funds will go towards scaling the e^pump network to 100 location positions across every city that Exponent will expand into.

Vinayak said that the e^pack would achieve scalability, and Exponent Energy was in the engineering phase to secure partnership deals across different areas. The early focus is on three-wheeled passenger vehicles and four-wheeled vehicles.

Vinayak further said that the key focus was on commercial vehicles and the primary customers ranged from fleet companies to single vehicle owners. In India, commercial vehicles boast of high per vehicle energy use representing a saturated market for Exponent as an energy company.

One of the factors inhibiting the adoption of EVs is energy, where slow charging of 3 to 6 hours affects operations. This forces customers to go for large batteries with a short life, making EVs costly to sustain.


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