Chargeup and Microgrid Labs sign an MoU to be the Technology Partner to BECIL
Chargeup, the company building Bharat’s largest battery-swapping network for electric two and three-wheelers, along with Microgrid Labs has formalized a business engagement with BECIL to be their technology partners. BECIL is a Mini Ratna Public Sector Enterprise of the Government of India, offering advisory and consulting services to the Indian and Overseas (Limited to Nepal, Bhutan, Sri Lanka, Bangladesh, Countries in Africa where BECIL is active) customers to support the transition from fossil fuel-powered fleet to electric fleet.
The objective of this MoU is to prepare a framework by Chargeup, Microgrid Labs, and BECIL. The scope of the consultancy would cover transition planning and design for the Indian and overseas fleet electrification and EV charging infrastructure market using Battery Swapping Technology.
Speaking about this, Varun Goenka, CEO, and Co-Founder, Chargeup, said, “Chargeup is committed to making India the Global EV Hub. We have been designing, developing, and operating a networked energy infrastructure based on the battery swapping model. Chargeup is building an extensive network of Battery Swapping Stations (BSS), and has already managed to help thousands of e-rickshaw drivers/dealer partners, and their families through greater earning opportunities. Alongside expanding this network Chargeup aims to play a crucial role in developing pan-India design and implementation of Battery Swapping capabilities in sync with the Government of India’s electric mobility plans. Through this association with BECIL, we aim to leverage our expertise to add value to their work domain in the times to come.”
Talking about his company’s role, Mr. Narayanan Sankar, CEO and Co-Founder, Microgrid Labs, said, “Microgrid Labs has been dedicated to working towards providing transition planning support for fleet electrification for our clients. Our expertise includes designing and deployment of world-class charging infrastructure and mathematical modeling services. We use EVOPT Planning and Controlling software that has been developed internally and is patented by Microgrid Labs. Through this association with BECIL, we look forward to furthering the cause of electric mobility in India and overseas territories.”
Elaborating on the vision behind the MoU signed with Chargeup and Microgrid Labs, Mr. VP Singh, General Manager, BECIL, said, “BECIL offers advisory and consulting services to various Indian and overseas customers in the territories that the organization is active in. With electric mobility being the panacea of the sustainability challenges faced by the global transportation sector, we are focusing on supporting fleet electrification and the EV charging infrastructure market. Alongside building charging infrastructure with Microgrid Labs support, we expect to work closely with Chargeup to integrate battery swapping services into the energy plans for the future EV market. These two companies have demonstrated technical expertise in their verticals, and we believe this collaboration will be a great value addition to BECIL’s offerings.”
With Charge-up’s unique dealer model, its platinum dealers are clocking revenue of INR 1 lakh per month, expanding their capacities every month. Chargeup’s vision is to build a massive pan-India network of stations and benefit the lives of millions of e-rickshaw drivers, and electric two- and three-wheeler owners. Chargeup recently raised USD 2.5 million in pre-Series A round led by Capital-A and Anicut Capital. The fresh lease of funding is being used for the expansion of Chargeup’s network to new cities and for building larger capacities to meet the growing demand. The company also believes that the government’s Battery Swapping Policy will act as a catalyst for the faster adoption of EVs.