AMPERSAND

Company Growth Level: Enterprise

Company Address/ Location: Ampersand Rwanda: KK 6 Av, Road to MAGERWA, Opposite NAEB, Ampersand Kenya Old Mombasa Road; Gate 2 Warehouse 11&12, Nairobi Kenya

Company email: info@ampersand.solar

Company website: https://www.ampersand.energy

Founded Year: 2016

Founders: Josh Whale

Current CEO: Josh Whale

Number of Employees: 1 - 10

Company Contact: 0000000

About: AMPERSAND

Ampersand is a Rwandan electric vehicle (EV) company founded in 2016 by Joshua Whale. It specializes in the design, assembly, and financing of electric motorcycles, aiming to revolutionize transportation in East Africa by providing a cleaner and more affordable alternative to petrol-powered motorbikes. Ampersand’s motorcycles are primarily targeted at commercial drivers, such as those in the motorcycle taxi (boda-boda) industry, a common form of transportation in many African countries.

The company distinguishes itself by offering electric motorcycles that are 45% cheaper to operate than their petrol counterparts and produce 75% fewer carbon emissions. In addition to the motorcycles, Ampersand has developed an innovative battery-swapping technology, which allows riders to swap out depleted batteries for fully charged ones at designated stations in less than 30 seconds, a model that enables continuous usage without the downtime typically associated with recharging. Ampersand operates in Rwanda and Kenya, with over 18 charging stations across Kigali and Nairobi, and it covers 3 million kilometers weekly through its fleet of electric motorcycles.

Vision

Ampersand’s core vision is to lead the electrification of the African motorcycle industry, replacing traditional petrol-powered bikes with sustainable, electric alternatives. The company aims to deploy 5 million electric motorcycles across Africa by 2033, providing affordable, low-carbon transport that contributes to environmental preservation and economic development.

Success and Milestones

Ampersand Energy is Africa’s first electric transport energy company with the longest track record of serving a commercial e-motorcycle fleet and battery swapping network at scale. Since Ampersand was founded in 2016, it has grown to be best in class for technology and performance, with more than 500 employees and a presence in Rwanda and Kenya. Initial Launch and Growth: Since its founding in 2016, Ampersand has grown rapidly from a startup to a key player in East Africa’s electric mobility sector. Funding Milestones: Ampersand raised a total of $21.5 million in funding by 2024, including a recent $2 million extension to its Series A round in September 2024, backed by AHL Venture Partners, Everstrong Capital, and Beyond Capital Ventures Infrastructure Expansion: Ampersand operates over 18 charging stations in Kigali and Nairobi and has developed a battery-swapping system that handles 75,000 battery swaps weekly. This efficient infrastructure allows drivers to exchange batteries in less than 30 seconds Partnership with BYD: In June 2024, Ampersand struck a major partnership with Chinese EV giant BYD to build 40,000 electric motorcycles by 2026 Success Stories Cost Efficiency: Ampersand motorcycles have proven to be 45% cheaper to operate compared to petrol motorcycles. This affordability has been one of the key drivers behind their rapid adoption Environmental Impact: Ampersand’s motorcycles reduce emissions by up to 75% compared to traditional motorcycles, significantly contributing to reducing the carbon footprint in the region Technology and Innovation: Ampersand’s innovative battery-swapping technology, coupled with its smart battery infrastructure, ensures that drivers have access to affordable, efficient electric mobility Ampersand’s ambition to transform mobility in Africa through sustainable transportation solutions makes it a visionary company in the rapidly growing e-mobility space. With strategic partnerships and continued support from investors, the company is well-positioned to become a leader in Africa’s electric vehicle revolution

Challenges and struggles

One of the main challenges Ampersand has faced is the infrastructure required to support electric vehicles in Africa. Limited access to charging stations and reliable power sources, especially in rural areas, has posed significant hurdles to the widespread adoption of electric motorcycles. Additionally, the high upfront cost of electric motorcycles compared to petrol-based ones has made convincing consumers to switch a slow process. Navigating governmental regulations and raising sufficient funding in a nascent industry were also major challenges. Although Ampersand has experienced considerable success, its journey has not been without challenges. One of the company’s setbacks was the difficulty in scaling production to meet the increasing demand for electric motorcycles. The high cost of batteries, limited consumer awareness about electric mobility, and the challenges in securing consistent energy supply in regions with unstable power grids slowed its expansion. Despite these hurdles, Ampersand continues to push forward by exploring innovative ways to lower costs and increase operational efficiency.

Biggest Competitor(s)

Roam Electric is Ampersand’s biggest Competitor