Kleanbus has raised over £200,000 as part of an equity crowdfunding campaign to further accelerate business growth.
Utilising Crowdcube, UK-based bus repower company Kleanbus has already hit more than 80 percent of its £250,000 target. The funds raised will support more than £500,000 of Angel investment to date, the company said.
The minimum investment level on Crowdcube is £10, with a single share costing £1. As part of their investment, UK taxpayers are eligible for 30% EIS relief on their next tax bill.
A key player in the repower sector, Kleanbus has developed a pioneering solution that can transform any diesel (or hybrid) bus into a zero-emission, electrically powered vehicle. The company’s e-powertrain technology combines electric powertrain components from leading Tier 1 suppliers with the former's own integration technology and proprietary software.
With a repower capable of being carried out in as little as two weeks, Kleanbus gets buses back into service as quickly as possible, at a cost one fifth of a new electric bus with a third of the operating costs of diesel buses, the company said. Pilot programmes with key bus fleet operators are expected to begin in the fourth quarter of 2022, with two buses from a major global tour bus operator arriving this week.
“We are already seeing a hugely positive response in the level of investment to date as we enter the final stages of vehicle development and move towards pilot schemes with major UK bus fleet operators,” said Joe Tighe, Co-Founder and CEO of Kleanbus.
There is only one type of shareholding to keep the process fair, the company said. Each share carries one vote, pre-emption rights on an issue or transfer of shares, and equal economic rights to a dividend or distribution to other ordinary shares in issue. When shares are purchased on Crowdcube, all investments are initially classed as an ‘expression of interest’ and no money is taken until the round is complete.
You can access Crowdcube HERE