PowerSwap
Increasing electric micro-mobility accessibility and safety through battery sharing systems.
The Pitch:
The electric bike market is exploding, but so are its batteries. An e-bike repair shop in NYC chinatown went up in flames (left). In 2023, NYC had over 114 incidents, 74 injuries, and 14 deaths related to battery explosions.
So, why is this happening? The scientific answer is thermal runaway: a chemical reaction which causes a battery to combust. The real culprit, however, is the mass number of cheap batteries (under $800) that lack safety certifications because manufacturers cut corners and the process leads cells to expand and bulge.
As a result of the damaging fires, landlords are banning the indoor storage of e-bikes, even with those safety certifications. Rather than ban e-bikes and take away the livelihood of more than 65,000 delivery workers, the public is facing a need for safe battery storage and regulation for e-bike owners.
PowerSwap
PowerSwap is a battery-sharing service, allowing e-bike owners to rent and exchange batteries from charging stations located around a city. Delivery workers can ride up to 100 miles a day which requires more than one charge. Our branded lithium-ion batteries are designed to provide up to 6 hours charge and once drained, can be easily replaced with a newly charged battery, thus eliminating wait-time. Our stations are built to mitigate fires and provide safe and accessible storage options for e-bike owners.
I created PowerSwap during my Entrepreneurship for Sustainability and Climate Justice course where I conducted market research, developed a business model, and crafted a pitch deck.