Electric Assisted Vehicles completes funding round to scale up production

EAV_LINCS

Oxfordshire-based sustainable zero-emissions vehicle manufacturer Electric Assisted Vehicles Limited 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 urban e-cargo and micro-mobility manufacturer says market demand is rising.

Adam Barmby, founder and CEO of EAV, said: “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.

“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 e-cargo market and complete the development of our unique mid-mile urban van solution, LINCS (pictured).

“EAV will continue to push forward with our exciting Transport Futures Vision and change the urban transport landscape for the better.”