Wales-based Riversimple, a pioneering hydrogen fuel cell car company, announce the launch of an equity crowdfunding campaign to match a €2M EU grant using ShareIn’s technology.
Riversimple’s production prototype, the Rasa, was unveiled last month and is a small step away from becoming the most sustainable car of the future. They have secured a grant of €2M from the EU towards the cost of the Beta Test and are now crowdfunding to raise matched funds.
With the culmination of 15 years of engineering, the Rasa is styled by former design chief for the Fiat 500, Chris Reitz. This hydrogen powered, lightweight car is the first step towards mobility with zero impact on the environment.
The next step is to build a series of Rasa cars for the public to test and refine in a 12 month trial, which will be completed by the money raised through the crowdfund.
Equity crowdfunding has become a valuable source of finance for sustainability and renewable energy in the UK. Recently, ShareIn’s client Downing, led by Founding Chair of the UK Crowdfunding Association Julia Groves, first crowdfunded renewable energy bond reached its £3.2M target 21 days ahead of its deadline.
We provide the technology and financial regulation for Riversimple to run their equity crowdfund so they can focus on their mission of reducing the environmental impact of personal transport.
You will never be able to own the Riversimple Rasa fuel cell car, however it will be available on subscription as a complete and transparent service.
“It’s a lighter, simpler transport option for customers and it leads to a longer term business relationship with a number of significant advantages,” says chief engineer and Founder of Riversimple, Hugo Spowers.
“Above all it is disruptive, turning the traditional business incentive to design cars for obsolescence on its head. In fact, when you sell “mobility” as a service the business incentive is to design cars for longevity, low running costs and sustainability.”