We are very excited to finally share with you our upcoming Seed round!
We are raising £2 million to accelerate the next phase in developing the world’s most efficient, zero emission, fuel agnostic engine to decarbonise industry, power & transport.
We are launching a Seed round now to maximise the impact of two very exciting opportunities.
Firstly, we have been accepted onto the Decarbonizing start-up program with Mitsubishi Corporation & NYK Line through SBC. This strategic partnership simultaneously offers the potential of a long-term partnerships with global leaders in high performance engine production and a leading shipping fleet.
Secondly, we have won a Clean Maritime Demonstrator Competition, a £350,000 grant to develop our zero emission, hydrogen/ammonia auxiliary engine for the marine sector. These funds will provide match funding for this project.
Seed funding of £2m
So what are the plans?
We are looking to raise a total of £2 million to delivery the Phase 2 Engine. This will be the lab demonstrator which will form the key for future field trials.
The round will be made up of:
- Existing investors – Our existing investors include both Angels & Crowdcube. We have completed two very successful and oversubscribed crowdfunding rounds so far and very excited to be doing a third.
- Strategic & Institutional Investors – We are in discussions with a number of Corporate, early stage VC and Angel syndicates to complete the round.
For interest in particupating in our upcoming Crowdfunding round, please complete our Pre-Registration form below:
Deliverables achieved last round
There were 3 core objectives which needed to be achieved over the last year and we are delighted to announce, we have exceeded targets!
The three specific required deliverables were:
- Validate our engineering methodology – our rapid pace of innovation relies heavily on a process of simulation and modelling. We validate our predictions accurately reflect real world test results and with a very high degree of accuracy.
- Manufacturability – We produced the parts we need to the tolerances and in a form which will be scalable and economical. this is especially critical for the ceramic components.
There is a lot more to be announced in the coming weeks!
The updates will be coming thick and fast so make sure to subscribe to our newsletter, Register for Crowdcube pre-registration and follow us on LinkedIn and YouTube.
We will also be launching a Webinar Series as soon as we have launched on Crowdcube. To register for these Webinars, to meet the team and find out more about the technology, please check out this link below:
And finally for any specific questions, please feel free to get in touch directly with George at firstname.lastname@example.org