Hybrid engine firm Vantage Power clinches £2.5m
London-based manufacturer of hybrid engines for buses will use funding to accelerate product development and hire new talent
Vantage Power, a London-based hybrid engine manufacturer, has landed £2.5m in funding led by John Winter, the former CEO of Barclays Corporate Banking; the Angel CoFund and Dr Till Becker, former CEO of Daimler AG Turkey, India and Portugal.
Winter and Becker have joined the board of Vantage Power.
Founded by Alexander Schey and Toby Schulz in 2011, Vantage Power designs and builds hybrid and electric engines for new buses and a retrofit solution for those already on the road.
It also provides advanced remote control systems to allow bus operators to improve their fleet management, maintenance, fuel economy and emissions.
The finance will be used to accelerate product development and invest in manufacturing, sales and the hiring of new talent to boost growth.
Schey commented: “Attracting investment and top talent are two of the most critical aspects to any business, but particularly high tech growth companies like Vantage Power.
“I am delighted that with this investment round we have been able to secure the best of both, and I very much look forward to working with Winter, Becker, and the Angel CoFund to build Vantage Power into a truly stellar global enterprise.”
Tim Mills, investment director at the Angel CoFund, commented: “Vantage Power’s exceptional engineering takes hybrid technology to a new level, creating a genuinely practical and cost effective solution for urban centres globally.
“We’re very pleased to be backing the team with such opportunity to deliver true local and worldwide benefits.”