Glasgow-based hydrogen propulsion and AI-driven carbon emission reduction firm Hydrogen Vehicle Systems is seeking a strategic partner to help fund its next stage of growth and bring its solutions to market.
It says Barclays Climate Ventures has been identified as an ideal partner, with the potential to invest £10 million for a 25% equity stake. The proposal entails £7 million covering existing technology development debt, with the remaining funds supporting the further development and licensing of AI-SEMAS™ and hydrogen propulsion systems.
The company adds that existing supporters of HVS underscore its potential: Euro Garages is forgiving £25 million in debt, and Qatar-based investors have contributed a £1 million bridge fund to facilitate HVS’s listing on JP Jenkins, a renowned share trading platform. These endorsements highlight investor confidence in HVS’s strategic pivot from manufacturing to a lean, technology-driven, licensing-based model.
HVS adds it is “already on the cusp of revenue generation, with imminent licensing agreements in negotiation”:
- Hydrogen Propulsion System Licensing: HVS is in discussions with a Spanish automotive OEM to benefit from Spain’s €2 billion clean energy initiative, complementing similar massive deployments in Europe.
- AI-SEMAS™ Technology Licensing: A joint venture in India with EVage and the Indian Trucking Association positions HVS for rapid deployment in a market with flexible regulatory conditions.
Furthermore, HVS could access additional funding through the European STEP Scale-Up Program and the Qatar-UK Climate Tech Fund, providing a solid runway for continued growth and technological refinement.
PwC’s Global State of Climate Tech Report highlights HVS among the UK’s leading AI climate tech firms, validating its strategic approach and positioning it as a top candidate in PwC’s upcoming “Net Zero Future50” report.
HVS is now seeking to engage with key stakeholders, including Steven Poulter, Head of Barclays Climate Ventures, to explore this transformative partnership. Under the leadership of the HVS team, including Dr. Telford, Dr. Stone, and Abdul Waheed, the company is ready to execute its strategic vision for clean transportation.
Pic: HVS
