Electric Assisted Vehicles Limited (“EAV”), the Oxfordshire-based sustainable zero-emission vehicle manufacturer, has completed a funding round led by H+ Partners, which will allow the business to increase production capacity, deliver customer orders, recruit key staff and scale up its R&D and engineering capabilities to accelerate the development of new models.
“The last two and a half years have seen EAV complete successful commercial trials in a number of new business sectors, from logistics to facilities maintenance and even waste management,” commented Adam Barmby, Founder and CEO of EAV.
“Our experiences and subsequent vehicle orders have proved beyond doubt the efficiency and capabilities of micro-mobility solutions for urban commercial and passenger transport. We have also got to know our customers better and are developing new products to meet their specific needs.
“This latest round of funding will boost our engineering and production capability and bring new EAV products to market much faster, allowing us to take advantage of the rapid and necessary changes in urban transportation.”
Simon Eckersley, co-founder and partner at H+ Partners, said: “We are very excited to join EAV on their journey to disrupt the last-mile and mid-mile vehicle markets. The team has done a tremendous job developing class-leading micro-mobility solutions.
“We look forward to supporting them as EAV enters new market segments, creates jobs, and provides real-world solutions to tackle emissions in towns and cities around the world. I am delighted to have joined EAV’s board of directors and look forward to working closely with the fantastic team Adam has assembled.”
Nigel Gordon-Stewart, Executive Chairman of EAV, added: “We’re delighted to have worked closely with the team at H+ Partners on this funding round, which allows us to keep pace with the growth and demands of the eCargo market and complete the development of our unique mid-mile urban van solution, LINCS. EAV will continue to push forward with our exciting Transport Futures Vision and change the urban transport landscape for the better.”
EAV are leaders in global urban micro-mobility - having re-evaluated how urban transportation and last-mile logistics must work in a way that is truly sustainable, game-changing, and most importantly, achievable.
Their vehicles are sustainable by design: made from natural fibre composite materials and recycled plastics and metals. This disruptive approach replaces legacy transport with clean, efficient, lightweight vehicles to reclaim cities for a future powered by people.
EAV is based in Upper Heyford, near Bicester in Oxfordshire.
H+ Partners makes private equity investments in companies that accelerate decarbonisation and have extensive investment experience in the hydrogen, electric mobility, battery technology and energy storage ecosystems across Asia, Europe, and the US.