Nuneaton based cleantech smashes £1m investment on Crowdcube

Viritech

A Nuneaton cleantech company has smashed its investment target of £1 million on Crowdcube.

Viritech has raised £1,425,070 to continue development of its hydrogen powertrain solutions for the automotive, aerospace, marine and distributed power industries.

Viritech is applying F1-derived engineering disciplines and highly innovative IP to the development of revolutionary hydrogen powertrain solutions for the automotive, aerospace, marine & distributed power industries.

Based at MIRA in Nuneaton, with access to research and development facilities and engineering resources used by many of the world’s major automotive manufacturers, Viritech’s business model is to design, develop and license proprietary hydrogen powertrain technologies to global OEMs and Tier-1 suppliers, with the aim of generating high margin, recurring revenues.

This second round will be used to accelerate development of the prototype of the Apricale® Hypercar – to be built and tested in 2022, Viritech’s Tri-Volt™ energy management system, bringing its Graph-Pro™ pressure vessels to manufacturing readiness, an HGV powertrain for testing and road trials and a light aircraft powertrain for testing on a ‘mule’ aircraft.