Member Article

This manufacturer has received £2.5m funding to help clean up London's air

With London’s toxic air becoming a major political issue over the last few years, businesses offering innovative solutions and ways to mitigate the capital’s air quality crisis will always be of great interest to investment firms and venture capitalists.

Now, a London-based company developing hybrid engines for buses has raised £2.5m from some big name angel investors, including the Chief Executive Officer of Barclays Corporate Banking, and the President of Daimler AG, to further develop its technology.

Vantage Power, which is based out of Greenford, has designed and manufactured a range of hybrid systems for both new and old buses which it claims can convert four traditional diesel buses into fuel-efficient hybrids for the cost of one bus.

As well as being able to retrofit buses currently in operation, the company’s system also includes remote control and telemetry systems, allowing bus operators to better manage and maintain their emissions and fuel usage.

Investors in this £2.5m funding raise include former Barclays Corporate Banking CEO, John Winter, alongside the Angel CoFund, and ex-Daimler Executive Dr. Till Becker, with Becker and Winter both joining Vantage Power’s board.

Alexander Schey, who is Chief Executive Officer at the firm which he co-founded in 2011 with Toby Schulz, commented: “Attracting investment and top talent are two of the most critical aspects to any business, but particularly high tech growth companies like Vantage Power.

“I am delighted that with this investment round we have been able to secure the best of both, and I very much look forward to working with John, Till, and the Angel CoFund to build Vantage Power into a truly stellar global enterprise.”

Tim Mills, Investment Director at the Angel CoFund added: “London’s streets have some of the highest levels of NO2 in the world, with the city’s transport infrastructure, namely buses, playing a big part.

“Vantage Power’s exceptional engineering takes hybrid technology to a new level, creating a genuinely practical and cost effective solution for urban centres globally. We’re very pleased to be backing the team with such opportunity to deliver true local and worldwide benefits.”

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