Greenbackers has been observing innovation in e-mobility tech for well over a decade in the UK, with recent, rapid, accelerating rapidly due to a combination of government support, investment in infrastructure, advancements in technology, and the involvement of key industry players.
In short, the UK is positioning itself as a leader in e-mobility innovation with these drivers behind it. This rapid progress is expected to continue as the country works towards its ambitious climate goals.
Comments Robert Hokin, Managing Partner at Greenbackers Investment Capital, “I sat in the second ever built Tesla roadster back in 2008, look how far industry has come in 15 years! Approximately 10.5 million electric cars were sold worldwide last year, which was about 14% of total car sales for the year and it’s just starting. E-mobility tech is ramping up and Greenbackers has been supporting throughout its journey…and we’re not stopping. There’s a great engineering heritage at work here.”
Greenbackers are currently working with 6 start-ups in the E-Mobility space – to accelerate their fundraises. Every one is a solid, investment-grade opportunity. Bona-fide funds can see these and more in our digital deal room or reach out to us here at Greenbackers for more information.
Oomph EV Power Limited (Cambridge, England): designs and manufactures mobile, rapid DC charging equipment to provide EV power wherever it’s needed. Seed Round: £1m, SEIS & EIS approved.
NEOL Copper Technologies (London, England) Neol has developed revolutionary technical lubricants to stop wear and efficiency loss in transport machinery (and other industrial applications) with copper filming technology, sustainably and at no additional costs. Series A: £10m. EIS Pre-assurance approval in-process with HMRC.
Ecomar Propulsion (England) Develops and produces high performance electric and hybrid hydrogen marine propulsion systems that are pre-integrated with Lehmann Marine Cube and Cobra battery systems, providing energy systems to replace polluting engines in all kinds of vessels up to 50m or 5000 tonnes. Match investment offer from German strategic: any investment will go into the topco holding – Ecomar Propulsion, which provides indirect exposure to their separate software holding “Ecomar Systems” (a subsidiary of Ecomar Propulsion Seed, £2m, SEIS & EIS approved.
KleanDrive (Chelmsford, England) KleanDrive’s Electric Powertrain Module enables diesel buses and trucks to be repowered to fully electric for a fraction of the cost of buying new. Series A: £10m, EIS approved.
Inition Energy (Didcot nr Oxford, England) Inition has developed electrode production technology to make battery production more profitable and sustainable, reducing costs of production by 40%, whilst increasing the energy density 20%, without any loss of power capabilities. Seed Round, £1M. EIS Pre-assurance approval in-process with HMRC.
Verge Motorcycles (London, England; Tallinn, Estonia; Oberhausen, Germany and California, USA) Verge Motorcycles designs, manufactures and sells revolutionary electric luxury motorcycles with friction-free rim motor technology. Series A, £22.5m.
Bona-fide funds can see these and more in Greenbackers digital deal room or reach out to us for more information. Contact Managing Partner Robert Hokin at [email protected]
The recent and rapid progress in e-mobility innovation is expected to continue and make a key contribution towards the UK’s ambitious climate goals. Some key factors driving this acceleration:
1. Government Policies and Support
- Net Zero by 2050: The UK government has committed to achieving net-zero greenhouse gas emissions by 2050. This goal has led to policies that promote electric vehicles (EVs) and discourage the use of fossil fuels.
- Ban on New Petrol and Diesel Cars: The UK plans to ban the sale of new petrol and diesel cars by 2035. This has accelerated the shift towards electric vehicles, with manufacturers ramping up production to meet future demand. Ultra Low Emmission Zones (ULEZ) in cities and Clean Air Zones (CAZ) have been further drivers here as cities such as London, Manchester and Glasgow tackle air quality.
- Incentives for EV Purchase: Various incentives, including grants for EV purchases and tax benefits, encourage consumers and businesses to adopt electric vehicles.
2. Investment in Charging Infrastructure
- Expansion of Charging Networks: Significant investments are being made in expanding the UK’s EV charging infrastructure. Companies like BP Pulse, Shell, Osprey Charging, and Gridserve are rapidly increasing the number of charging stations across the country.
- Ultra-fast Charging Hubs: The development of ultra-fast charging hubs, such as the one by Gridserve in Braintree, Essex, is making long-distance travel more feasible for EV owners.
- Government Funding: The UK government has allocated substantial funding to support the rollout of charging points, especially in underserved areas like rural regions and motorway service areas.
3. Technological Advancements
- Battery Technology: Innovations in battery technology are leading to longer ranges, faster charging times, and reduced costs. Companies like Britishvolt are working on next-generation batteries, while solid-state batteries are being researched as a future solution.
- Vehicle-to-Grid (V2G) Technology: V2G technology allows electric vehicles to feed energy back into the grid, helping to balance energy supply and demand. This innovation is gaining traction in the UK as part of smart grid development.
- Autonomous and Connected Vehicles: The UK is also a leader in developing autonomous and connected vehicles, with testing taking place in various parts of the country. These technologies are expected to integrate seamlessly with e-mobility.
4. Industry Collaboration and Innovation Hubs
- Partnerships: Collaborations between automotive manufacturers, tech companies, and energy providers are driving innovation. For example, Jaguar Land Rover and Tata Motors are investing heavily in EV technology.
- Innovation Hubs: The UK has established several innovation hubs focused on e-mobility, such as the UK Battery Industrialisation Centre (UKBIC) and the Faraday Institution, which are advancing research in battery technologies and materials.
5. Market Growth and Consumer Adoption
- Increased EV Sales: There has been a significant increase in EV sales in the UK, with electric vehicles accounting for a growing percentage of new and used car sales. This growth is partly driven by consumer awareness of environmental issues and the increasing availability of affordable EV models.
- Fleet Electrification: Many businesses are transitioning their fleets to electric vehicles to reduce emissions and align with sustainability goals. Companies like Amazon and Royal Mail are leading the way in fleet electrification.
6. Startups and Innovation
- New Entrants: The UK is home to a growing number of startups focused on e-mobility, ranging from electric vehicle manufacturers to companies developing advanced charging solutions and mobility services.
- Support for Startups: Incubators and accelerators focused on clean technology and e-mobility, such as the London-based Sustainable Ventures, are providing support to startups, helping to bring innovative solutions to market.
7. Public and Private Sector Collaboration
- Public-Private Partnerships: Collaborations between the public and private sectors are crucial in scaling e-mobility solutions. For example, the partnership between the UK government and companies like Tesla and Nissan is helping to accelerate the rollout of EVs and charging infrastructure.
About Greenbackers Investment Capital
Greenbackers mission: funding 1000 technologies to change the world. Greenbackers is a specialist venture firm focused on climate & cleantech venture capital globally.
We are the go-to fundraising advisory for Climate Tech ventures seeking to raise first institutional capital. Greenbackers are a highly experienced, but down-to-earth team who remove a lot of the fear factor and confusion from fundraising for founders.
We offer a goldilocks (just right) value proposition which falls in between (a) founders trying to raise on their own (low cost but soul destroying) and (b) retaining a major investment bank or mainstream advisory firm (cripplingly expensive and generalist)
Greenbackers use a combination of digital and on-premises channels to make the founder and investor experience as efficient and effective as possible. Operating from London, Glasgow and Houston. http://greenbackers.com
