Vantage Power, the London-based hybrid powertrain manufacturer for buses, has announced it has taken £2.5m in funding with the former CEO of Barclays Corporate Banking, Mr. John Winter leading the round, and which also sees investment from the Angel CoFund, and, ex-board member, President and CEO of Daimler AG Asia, Turkey, India (TATA) and Portugal, Dr. Till Becker. Vantage Power also sees John Winter and Till Becker join the board.
Vantage Power, founded by Alexander Schey and Toby Schulz in 2011, manufactures hybrid systems for both new buses and those already on the road – a retrofit solution which can convert four traditional diesel buses into fuel-efficient hybrids for the cost of one new bus. Vantage Power also provides highly advanced remote control and telemetry with all its hybrid systems, allowing bus operators to greatly streamline fleet management, maintenance, fuel economy and emissions.
Further to their investments, Mr. Winter and Dr. Becker have also joined Vantage Power’s board, adding word-class financial and manufacturing expertise to a growing group of talent that the business can call upon. This includes Robert Marshall, who as well as being the CEO of the Marshall Group of Companies – an aerospace, land systems and motor retail business with annual sales in excess of £2.2bn – is Chairman, and his business is a repeat investor. The funding will be used to further develop the technology behind the company’s products as well as invest in hiring more engineering, manufacturing, sales and C-level talent to help the business scale effectively.
Alexander Schey, CEO of Vantage Power, 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.”
On his investment and joining the business, John Winter said: “The Vantage Power team led by Alex and Toby is truly world class. I am delighted to support their credible plans to bring eco-friendly solutions and cutting edge technology to their demanding customer base.”
Tim Mills, Investment Director at the Angel CoFund, commented: “The need for more responsible energy consumption has been understood for some time, but the negative impact of emissions at a local level is something that the public and policy makers are only just beginning to get to grips with. 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.”
Vantage Power was also joined by His Royal Highness, The Duke of Edinburgh, on Monday 20th February 2017 to celebrate the introduction of London’s first retrofitted hybrid buses. One of the early advocates of eco/electric technology, having driven an electric car in the Sixties, and also owning an eco-friendly Metrocab, Prince Philip was walked through Vantage Power’s hybrid retrofit systems process, including CAD techniques, rapid prototyping methods, the assembly of its unique control and telemetry electronics and production of a proprietary battery pack.
Also present were Leon Daniels, Managing Director for Surface Transport at TfL, and senior representatives from Vantage Power’s first three customers; Go Ahead London, Arriva London and London United.