Riversimple and City of Leicester to launch world's greenest car
(Thomson Reuters ONE) -
A ground-breaking agreement that will see 30 highly energy efficient hydrogen
fuel-cell powered cars on the streets of Leicester was signed today (Thursday
June 10th) by Riversimple, the sustainable car company, and Leicester City
Council. In the first project of its kind, the deal will see the council and
Riversimple cooperate to find both private citizens and organisations to test
drive the vehicles and locate and man a suitable refuelling point.
The 12 month pilot will be up and running by the spring of 2012. If the pilot is
a success, Leicester and Riversimple will also discuss the potential of
Leicester being the site for a factory producing 5,000 cars a year. Riversimple
plans to run a second pilot in parallel and are in serious discussion with
another UK city.
The two-seat vehicle was designed by a small team of British motorsport
engineers and was built at Silverstone. It has a maximum cruising speed of 50
mph and a range on one tank of hydrogen of at least 200 miles. With a body made
of lightweight composites it weighs only 350kg and by using novel design
principles is able to do the equivalent of 300 miles per gallon. Hydrogen
produces nothing but a few drops of water from the exhaust, although to achieve
true "zero emission" credentials the fuel must be produced from renewable energy
sources too.
Customers will not buy the cars outright. They will pay a fixed monthly and
all-inclusive per mile charge to use the vehicles, similar to a mobile phone
contract. The estimated monthly cost will be around £200 plus 15p per mile,
including fuel. Customers will provide feedback both to improve the car and the
driving experience.
Hugo Spowers, Riversimple's founder, said: "We are delighted to have found, in
Leicester, a city which realises that the goal of sustainable transport means
that words have to be turned into actions. By signing this deal we will both
become pioneers. The age of fossil fuelled cars may not be over yet but it is
surely dying. Contrary to what we usually hear, sustainable, near pollution
free, transport is possible, here and now, using existing technology"
Riversimple is in the process of a second round fund raising, targeting £20
million from investors; their principal backer thus far, the family of Ernst
Piëch, a member of the Porsche dynasty, are committed to participating. This
fundraising is being supported by Innovator Capital Limited and Sustainable
Development Capital LLP, both specialist London-based investment banks.
Sheila Lock, Leicester City Council's chief executive, said: "This confirms
Leicester's status as a city which is leading the way in environmental terms. We
recognise that we have a duty to our residents, their children - and to the
country - to reduce pollution and help prevent global warming. This is yet
another step in making Leicester a better place to live and we look forward also
to the possibility of providing factory jobs if things go well."
Notes to editors - An information pack telling the Riversimple story is
available at riversimple.com
For press inquires please contact: Charlie Burgess, Media Adviser to
Riversimple: +44 7941 371440charlie(at)charlieburgess.co.uk
For Leicester City Council press inquiries please contact:
Christian.dezelu(at)leicester.gov.uk
For financial inquiries contact Cynthia Hung: +44 20 7297 6840
cynthia.hung(at)innovator-capital.com
Or Jonathan Maxwell: +44 20 7287 7722 jonathan.maxwell(at)sdcl-ib.com
[HUG#1423333]
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