What cyclus does

Cyclus, operated by Swap llc, Inc., a New York corporation, builds modular energy infrastructure targeted at freight and transportation fleets. The company's core product is a battery swap station designed to deliver a 3-minute swap and approximately 1MW of throughput within a footprint of roughly three parking spaces, supported by standardized power packs intended to be compatible across participating fleets. The platform is explicitly extended to autonomous vehicle and EVTOL operators in addition to conventional commercial vehicle operators.

The product suite comprises three elements: a Battery Swap offering for fleet operators, an Energy Storage offering that integrates stationary storage with virtual power plant participation for utilities and grid operators, and the Cyclus System, a software/management layer intended to unify the hardware, monitor operations, and orchestrate dispatch into grid services. The architectural choice — co-locating swap, storage, and a software control plane — is the company's primary technical bet, and is the basis for its claim to serve both vehicle-side and grid-side customers from a single installed base.

Cyclus's business model is a hybrid of capital-equipment sales (swap stations and power packs) and usage-based or service revenue derived from grid services such as virtual power plant participation. Target customers span four segments: EV fleet operators, autonomous/EVTOL operators, utilities and grid operators, and commercial vehicle operators. The company is privately held with a headcount in the 1–10 range, and the input data set contains no disclosed revenue, funding rounds, named customers, or partnerships, indicating an early-stage commercial posture.

Name

cyclus

Legal name

Swap llc, Inc.

Website

https://thecyclus.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Cyclus, operated by Swap llc, Inc., builds modular battery swap and energy storage infrastructure for freight, autonomous, and EVTOL fleets, plus utilities. Its Cyclus System platform integrates swap stations, stationary storage, and virtual power plant services for fleet and grid customers.

Ownership category

akta.pro rank

Product category

EV Charging Infrastructure

NAICS

Battery Manufacturing (33591), Electric Power Generation, Transmission and Distribution (2211)

akta.pro primary industry

Industrial Material Handling & Warehouse Charging (forklift/AGV chargers, battery swapping) (IMAGAHAG)

akta.pro secondary industries

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB), Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA), Battery Recycling, Second-Life & End-of-Life Handling Services (TLAKAMAD), E-Mobility Batteries & Swappable Packs (Consumer) (CRACASAI)

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Technology or R&D, Supply Chain, Operations, Personnel, Marketing or Sales

Revenue model

1. Battery Swap Station Deployment: Sale or lease of battery swapping infrastructure stations to fleet operators, taxi services, and other EV service providers. Stations can be deployed as mobile or fixed units.
2. Grid Services / Energy Distribution: Energy storage capabilities enable virtual power plant services where stored battery energy can be discharged back to utility grids for balancing and demand response.
3. Universal Power Packs: Sale of universal battery power packs compatible across vehicle classes from cars to semi-trucks.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Cyclus designs, manufactures, and deploys modular battery swapping stations and universal power packs that enable electric vehicles to exchange depleted battery packs for fully charged ones in approximately 3 minutes. Each station stores roughly 1MW of battery energy within a compact 3-parking-space footprint and functions as a decentralized micro-grid capable of discharging stored energy back to utility grids for balancing and demand response. The system targets EV fleet operators, autonomous/eVTOL operators, commercial vehicle operators, and utility/grid operators.

Product overview

Cyclus is an energy storage and distribution solution provider offering a unified platform that combines Battery Swap and Energy Storage products. The core Battery Swap product enables rapid 3-minute EV battery exchanges using a compact 3-parking-space footprint, while the Energy Storage product provides 1MW decentralized micro-grid dispensers that create virtual power plants. These products work together as the Cyclus System platform to support EV adoption, grid balancing, and renewable energy integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Battery Swap Battery swapping system that allows EVs to exchange depleted battery packs for fully charged ones in 3 minutes, operating continuously 24/7 with energy storage and grid assist capabilities. Designed for EV fleet operators, taxi services, autonomous vehicles, and eVTOL operators.
• Energy Storage Decentralized micro-grid dispensers that unlock EV battery packs and create energy storage systems, with each dispenser storing 1MW of energy that can be discharged to balance power grids. Targeted at utilities and grid operators.
• Universal Power Packs Universal battery power packs sold separately and compatible across vehicle classes from passenger cars to semi-trucks, serving as the consumable/refueling unit of the Cyclus swap ecosystem.
• Cyclus System Integrated deployment platform combining Battery Swap and Energy Storage capabilities, with ~1MW capacity in a 3-parking-space footprint, virtual power plant functionality, and scalable dispenser-based architecture supporting vehicles from small cars to semi-trucks.

Quantifiable outcome

• 100% fully repower in 3 minutes per swap (vs. 15+ minutes for traditional fast charging)
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Ample: US-based developer of modular battery-swapping stations for EV fleets (Uber, Sally Beauty pilots). Most direct comparable on business model, technology stack, and target fleet customer set.
• NIO Power (Nio): Operates the world's largest EV battery-swap network with 3,000+ stations, primarily for Nio passenger cars. Directly comparable on the swap-as-a-service model, though vertically integrated with proprietary vehicles.
• Gogoro: Operates the largest battery-swap network for electric two-wheelers in Taiwan and expanding globally. Closest peer on the swap-as-network-service business model, applied to a smaller-vehicle vertical.

Broad incumbents

• CATL (EVOGO): World's largest battery manufacturer operates EVOGO modular swap network. Comparable as a battery-pack maker and swap-network operator, though backed by vastly deeper capital and cell-manufacturing scale.
• BYD: Vertically integrated EV and battery manufacturer that has explored dual-mode charging/swap solutions for commercial vehicles. Comparable on battery manufacturing scale and commercial-fleet electrification.
• ChargePoint: Largest independent EV charging network in North America and Europe. Adjacent peer representing the dominant alternative model Cyclus is competing against: plug-in charging rather than swap.
• Fluence Energy: Global supplier of grid-scale and behind-the-meter battery energy storage systems with virtual power plant software. Comparable on the grid-services / VPP revenue stream Cyclus is targeting.
• Tesla (Energy): Operates Supercharger network (plug-based), Powerwall (BTM storage), and Autobidder VPP software. Notably, Tesla piloted and discontinued battery swap in 2015, providing a historical cautionary comparable.
• ABB E-mobility: Major supplier of DC fast-charging hardware including Megawatt Charging System for trucks. Represents the incumbent hardware path that competes with swap for fleet electrification budgets.

Emerging players

• Stem Inc: Pure-play AI-driven energy storage and VPP operator. Comparable on the virtual power plant revenue model that is a core element of Cyclus's station economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/thecyclus

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about cyclus