Fully Funded Via a Round 3 EIS Raise
Onboard Vehicle Electro Hydrogen Generation & Co-Firing
Following 2 previously successful fundraises, and the successful conclusion of their Stage 1A project, VN Automotive Ltd successfully raised a further £604,000 in a Round 3 funding to further develop their fully patented Electro Hydrogen Generator technology (“EHG”) and to monetise the technology through licencing agreements with major static generator, commercial vehicle and engine manufacturers. The manufacturers are under significant legislative pressure from governments around the world to reduce CO₂ emissions and to increase fuel efficiency, or face large fines from 2013 for every internal combustion engine they build that does not meet the legislation targets.
What is the opportunity & why does it exist?
- The automotive manufacturing industry is being driven by global legislation to reduce the amount of CO2 their vehicles emit
- Efforts to date have produced mixed results, but many manufacturers have not reached the 130g/km required. Post 2015 legislation requires a further 30% reduction from the 130g/km figure to 95g/kg
- As seen in the recent news Volkswagen, Audi, Seat and many others are unable to meet the emission requirements today without ‘spoofing’ the results
- The only real alternative fuel for the industry is Hydrogen
- Currently Hydrogen is too expensive in both energy production cost, and CO2 emission terms for it to be used widely
- There is no Hydrogen distribution network planned now or in the medium term
What is the technology and how proven is it?
- The EHG was invented by a Science team at the Frumkin Institute, Moscow & initially patented in that country, after building and testing EHG versions 1,2 & 3
- The results were vetted by a UK Trade Investment professional research team & brought to UK as a ‘Technology of Exceptional Global Potential’
- The UK Team built an EHG4-M under the auspices of Professor Keith Scott of Newcastle University & carried out extensive testing at Intertek-Tickford
- The EHG produces Hydrogen more ‘efficiently’ & ‘more cost effectively’ that any other known technology today
Patented in 27 Countries VNA will achieve revenue by licence sales to the:
- Static engine manufacturers.
- HGV engine and OEM manufacturers (1 x Licence already in hand)
- Passenger Car Automotive Manufacturers
- Prototype design & creation charges to ‘short-run’ specialist engine manufacturers
- 2-3 years in development before revenues generated
- 3-5 years post revenue before potential investor exit