Micro mobility manufacturer secures fresh finance
Electric Assisted Vehicles Limited (EAV) have completed a funding round led by H+ Partners.
The Oxfordshire sustainable zero-emissions vehicle manufacturer, who supply vehicles to DHL and ASDA among others, will now accelerate their growth and investment plan as a result.
The exact details of the funding round have not been released.
EAV state the financial injection and partnership with H+ will allow them to increase production capacity, recruit key staff and scale up research and development and engineering capabilities, all in order 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.”
H+ Partners invests in companies that accelerate decarbonization. Their expertise lies in hydrogen, electric mobility, battery technology and energy storage solutions.
Simon Eckersley, of H+ Partners, said: “We are very excited to join EAV on their journey. 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.”
Read more - Oxford: EAV manufactures zero-emission van for deliveries
