Full&Fast

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FEATURED NEWS

 MUBIL Mobility Awards 2022 reward Green Eel by full&fast

What is full&fast?

Closebattery Logistic SL (hereinafter "full&fast" or "the Company") is a technology-based startup that was founded in 2017 to design, develop and commercialize portable energy storage systems. These systems use batteries to provide companies with access to green energy when and where it is needed, either because there is no power grid nearby, when the grid is down or when there is not enough power. The Company aims to counteract the use of generators/generators powered by polluting fossil fuels to produce electricity.

The company emerged out of different demand-side opportunities for energy solutions:

• Need for sustainable electric power in locations where infrastructure does not exist.
• Need for solutions to problems in the electrical grid resulting from the increase in the electric fleet.
• Elevated cases of roadside assistance due to uncharged batteries in electric vehicles.
• Clean energy supply as an alternative solution to traditional generator sets.
• Compliance with the 2030 agenda.

For this purpose, the company has developed "GreenEel" with its own technology. This portable microgrid can store and supply electrical energy with a power of 50Kw and an efficiency of 98%, independently of the type of battery (chemical). It can also use new or used batteries (second life) or be connected to other energy sources such as renewable energy or the grid itself.

In short, such technology facilitates access to and supply of green energy through portable stations. It allows customers to dispose of energy whenever and wherever they need it. Thanks to these advances, it is possible to compete in cost per unit of power delivered against the genset.

The company's added value in terms of flexibility, modularity, and especially efficiency is thanks to its technology based on power electronics (energy control). Moreover, the equipment can also be connected to provide greater capacity for customers who need a constant flow of energy with greater power.

Business Model

Full&fast's business model is structured under a B2B model that monetizes through the sale and rental of portable stations and a monthly fee for remote monitoring and management. As added services, it earns revenue from:

➔Remote management and monitoring.

➔Maintenance.

➔Data analytics.

➔Predictive consumption models.

➔Integration in third-party ERP/EMS.

The Company will never operate under a B2C model, nor will it develop its own low-power networks or batteries. It will only provide service to specialized companies according to the business vertical so that these can distribute the equipment supporting their sales channel from their customer base.

➔Mobility: roadside assistance companies, insurance companies, mobility service companies.

➔Critical support: specialized service companies.

 

Verticals

• Electric mobility. Full&fast's technology enables the delivery of 50kWh of parallelizable charging power to allow on-grid and off-grid deployment, remote control, and management. Target customers: insurance companies, last mile companies, vehicle fleets, transport operators, etc.
• Grid service. Thanks to fast deployment, supervised and remotely operated, it is possible to optimize customer consumption through energy arbitration and voltage control, among others.
• Events. Microgrid rental for musical events, film productions, sporting events, presentations, etc. As a result, fossil fuel-powered generators can be dispensed with for clean energy delivery.
• Construction. Nowadays, technology makes it possible to improve working conditions and energy uptime, even win tenders. Target customers: machinery rental companies, refurbishment companies, restoration companies, etc. The aim of all the above is to achieve a smoke-free workspace.

 

Destination of funds

The €400,000 round the Company is raising through this capital increase will finance the following purposes. The Company expects to reach 125% of OverFunding, increasing the round amount to €500,000.

The purposes are:

Distribution of funds round: €400,000

• Prototype development: 320,000 €.
• Business development and marketing: 80,000 €.

 

Why invest?

• Management team and advisory board with comprehensive technical knowledge and experience in the sector.
• Technological and industrial partners: CIRCE Technological Center and ZIGOR CORPORACION for the development and industrialization of its technology.
• The company is supported by innovation-related entities: the Ministry of Industry (through the IDAE), the Ministry of Science, Universities, and Innovation of the Community of Madrid, and ENISA. Project supported with non-refundable grants for technology development.
• Patent-protected technology.
• Compliance with the 28 Grid Codes of the European Union.
• The company's market is transitioning towards more sustainable mobility, and new technological solutions to reduce CO2 emissions are becoming more widely accepted. Public and private organizations estimate an increase in investment in the construction and implementation of solutions that promote sustainable mobility.
• Legislative impulse towards this type of mobility by public entities, from local to supranational (EU).
• In-house technology and a continuous investment plan for the improvement and development of the equipment, supported by institutions that have accompanied the project since its inception.
• Efficient equipment that enables a considerable cost reduction compared to the genset: -50% in maintenance costs, no emissions, -48% noise, three times more efficient per unit of energy delivered (KWh).
• Full&fast battery chargers have more complex and complete developments than their competitors. Some of these competitors do not have in-house technology and buy it from a third party to exploit it with a different commercial approach.
• Full&fast has an energy density that allows them to compete in cost per kWh delivered against the genset: 3% cheaper per kWh than a genset of similar characteristics and 30% cheaper than the best of the current commercial solutions.
• The project has recently won the 4th edition of LaNave's acceleration program. Full&fast participated as one of the ten finalists after being classified as the winner of its vertical. The company has also been proclaimed champion of the MUBIL Mobility Awards 2022 as one of the projects of greatest potential in the mobility sector.

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