LONDON, March 27, 2019 /PRNewswire/ -- CleanEquity® Monaco 2019, the forum for emerging sustainable technology and resource efficiency companies, hosted by Innovator Capital and the Monaco Economic Board, closed on Friday, 15th March with the Awards Ceremony in the presence of H.S.H. Prince Albert II of Monaco.
An independent panel of judges, chaired by His Serene Highness, selected SUN Mobility as winner of the award for Excellence in the Field of Environmental Technology Commercialisation.
Mungo Park, Chairman of Innovator Capital commented: "SUN Mobility are showing us a way forward for transportation and we wish them well in scaling their solution in India and worldwide."
SUN Mobility is a 50:50 joint venture between Maini Group and SUN Group, pioneers in electric mobility and clean energy. It is co-founded by Chetan Maini, founder of India's first electric car, Reva (now Mahindra Electric) and Uday Khemka, Vice Chairman of SUN Group, two of India's well-established leaders in the new energy economy.
By 2030, the transportation business is going to be a $250 billion industry in itself, with a lot of key players accelerating their involvement in the electric vehicles (EVs) segment. India will soon have over 400 million vehicles on its roads, and an estimated 30-40% of them are likely to be EVs. SUN Mobility recognized this opportunity to fast-track their mass adoption, and through its open-architecture Energy Infrastructure Solution, is offering a faster, more convenient and more affordable way of 'refuelling'. It is currently focused on shared mobility vehicle segments such as 2-wheelers, 3-wheelers, eRickshaws and buses that undertake around 85% of daily urban commutes in a country like India, and is keen to deploy its services on a global scale in the near future.
The innovative approach of separating the battery from the electric vehicle and offering it on a 'pay-as-you-go' model enables the price of EVs to be cheaper than their ICE equivalents, and the cost of energy to be lesser than that for fossil fuel per km. By creating Smart Batteries which are swappable and enabling them to be swapped in a few minutes through a network of Quick Interchange Stations powered by its Smart Network, SUN Mobility is addressing the key issues facing electric mobility the world over–high cost, range anxiety and long-refuelling time. This unique value proposition, for the first time, can truly enable mass adoption of electric vehicles.
It has an in-house team to design, develop and manufacture their proprietary Smart Batteries and Quick Interchange Stations, and manage the Smart Network. It has several patents under process in India and outside for the technology used to develop these, along with secure interfaces, battery life management and swapping infrastructure development. SUN Mobility has also partnered with leading automotive manufacturers (OEMs) such as Ashok Leyland, shared mobility solution providers (fleet operators) such as Smart E, advanced battery technology companies, renewable energy generation companies and cities. It has successfully commenced commercial deployment of its energy infrastructure solution for electric mobility that will help move masses in an efficient, pollution-free and cost-competitive way.
For more information, please visit: http://www.sunmobility.co.in
Chetan Maini of SUN Mobility said: "It was an honour to be presented the 'Excellence in the Field of Environmental Technology Commercialisation' award at CleanEquity Monaco, 2019 by H.S.H. Prince Albert II. The forum was a great opportunity to discuss SUN Mobility's vision, achievements and goals and meet so many people from all over the world, who are potential game changers in the Clean Tech sector. "
He added, "The market for reliable, clean mobility solutions has immense global potential. SUN Mobility is on track to accelerate EV adoption in India via its open-architecture energy infrastructure solution, and we are proud to be powering growth in this area."
CleanEquity thanks, in particular: Prince Albert II of Monaco's Foundation, APCO Worldwide, Cision, Covington & Burling, Cranfield, Hobbs & Towne, Monaco Economic Board, Parkview International and Reliance Industries.
CleanEquity Monaco will be returning to the Principality of Monaco in March 2020.
Follow us on twitter to keep up to date with the news: @CleanEquity.
SOURCE Innovator Capital