Mile

Mile Technologies Ltd

Mile

Mile is a climate-tech company that is building the fastest growing solar battery swapping network for electric 3&2 wheelers in South Asia.

Dhaka, Bangladesh

Bangladesh

For-profit, including B-Corp or similar models

More than 6 million family in Bangladesh are dependent on driving electric 3 wheelers. These represent a significant portion of the underserved community. And this community is growing rapidly. These 6M+ electric 3-wheeler drivers suffer due to low earning opportunity because of 8 hours of charging downtime and needs to take out recurring loans for regular battery replacement which pushes them into a poverty cycle. The existing market is running on harmful lead-acid batteries which directly affects 10M+ children when getting recycled creating a lead pollution of 55,000 tons. Additionally, around 28% global carbon emission comes from transportation. And every year, air pollution causes 7+ million deaths globally. We’re aiming to bring down the cost to charge an EV battery thus promoting adoption of EVs also making clean energy affordable and accessible. It's a game-changer with its potential to revolutionize the EV charging landscape for light electric vehicles with also addressing the challenges like air pollution, charging downtime, range anxiety and livelihood of rural communities. Additionally, slower charging extends battery lifetime and provides flexibility to the grid, further accommodating more renewable generation onto the grid. Source reference: 1. https://today.thefinancialexpress.com.bd/last-page/bangla-teslas-take-over-the-road-despite-policy-gridlock-1717438479#google_vignette 2. https://www.thedailystar.net/law-our-rights/news/fatal-consequences-lead-pollution-bangladesh-3617426

We are building the fastest growing network of solar battery swapping stations in Bangladesh that is replacing the long charging downtime with 2 minutes battery swapping technology using advanced lithium batteries. By joining our platform our users income has increased by almost 50% and their direct cost to adopt an EV has decreased by almost 40% as they won't have to buy a battery in their lifetime while contributing towards clean mobility and shifting the whole industry from lead-acid batteries to advanced-lithium batteries. We have an unique partner-led model where we partner with local small to medium sized businesses and leverage their existing infrastructure to setup our swap station. This approach enables us to rapidly scale our operations while being asset-light at the same time. Our patentable design solves the space efficiency problem. Each of our Mile Swap Station can be setup in 200 Sqft – 500 sqft area with integrated solar panels. Each of our Mile Swap Station works as an energy storage system thus makes it easy for grid integration. In the process we are solving the problem of balancing solar energy generation with peak demand and potential overloading of existing grids which has a patentable design making it easy to maintain and scale.

1. Electric 3-wheeler drivers. 2. Electric 2-wheeler drivers. Notable points: - Their income has increased as they won't have to wait for charging anymore. - Their expenses has decreased as they won't have to buy a battery anymore. They are currently using the conventional charging system as there is no alternative.