Amazon invests in ION Energy to help economy shift to low-carbon
Amazon is proud to announce that the latest Climate Pledge Fund recipient is ION Energy, a startup that develops software to improve the life and performance of lithium-ion batteries that power electric vehicles and energy storage systems. Founded in 2016, the business is headquartered in India but also has operations in France and the U.S.
ION’s flagship offering is a smart battery management system (BMS) that utilizes proprietary algorithms to improve battery life and performance. The BMS is typically sold as a product or a technology license to original equipment manufacturers (OEMs) that are developing lithium-ion batteries or electric vehicles. The company works with more than 75 customers in the mobility and energy industry across 15 countries, including India, France, Spain and the U.S.
“As we continue to identify visionary companies whose products and solutions will facilitate the transition to a low-carbon economy, we’re proud to invest in ION Energy, our first investment in India through the $2 billion Climate Pledge Fund,” said Kara Hurst, vice president and head of Worldwide Sustainability at Amazon. “We are inspired by ION’s mission to build technologies that improve the life and performance of lithium-ion batteries that power electric vehicles and energy storage systems, ultimately scaling solutions that help us all achieve our ambitious climate goals.”
Transportation is a major component of Amazon’s business operations and a key part of its plan to meet net-zero carbon by 2040. That’s why, in 2019, Amazon ordered 100,000 electric delivery vehicles from Rivian, a U.S. electric vehicle manufacturer, Climate Pledge Fund investee, and signatory of The Climate Pledge. The recent additions of companies like Mercedes-Benz, Convoy, and Uber as signatories to The Climate Pledge underscore the widespread commitment across industries such as the automotive, transportation, and logistics spaces to protecting the communities in which we live and work, as well as the entire planet.
“Globally, we believe 2021 will be the inflection point for the new energy transition as both companies and governments come together towards reducing carbon emissions. At ION, we’re confident that advanced electronics and software that help enterprises accelerate this transition will become mission-critical to meet our goals of a zero-carbon future,” says Akhil Aryan, co-founder and CEO of ION Energy.
As we rapidly approach the two-year anniversary of The Climate Pledge, a net-zero carbon commitment co-founded by Amazon and Global Optimism, we continue our relentless mission to identify and develop new and innovative ways to make our business more sustainable. We and other Pledge signatories are working toward our goal to reach net-zero carbon by 2040—10 years ahead of the Paris Agreement.
Part of this mission includes The Climate Pledge Fund, which Amazon founded in 2020. The Climate Pledge Fund is a $2 billion investment programme that will help enable Amazon and other companies to meet the goals set by The Climate Pledge. The fund invests in visionary companies across industries that will facilitate Earth’s needed transition to a low-carbon economy. The investments support the development of sustainable and decarbonising technologies and services.
Amazon has previously announced investments in BETA Technologies, CarbonCure Technologies, Infinium, Pachama, Redwood Materials, Rivian, Turntide Technologies, and ZeroAvia as part of The Climate Pledge Fund. All of these companies are creating decarbonising technologies that will help Amazon and others reach net-zero carbon by 2040.
Learn more about The Climate Pledge Fund as Amazon continues to accept applications.