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EG Group Backs Scottish Hydrogen Truck Firm With £25 Million in Further Funding

By September 30, 2022 4   min read  (604 words)

September 30, 2022 |

Fuel Cells Works, EG Group Backs Scottish Hydrogen Truck Firm With £25 Million in Further Funding

Backed by EG Group’s £25 million investment this month, UK-founded HVS (Hydrogen Vehicle Systems) is driving ahead in decarbonising the heavy-duty transport sector.

“We are committed to driving sustainability across our extensive UK and global fuel forecourt network by investing in HVS trucks, influencing the demand for hydrogen and vehicles in parallel from our large selection of partnerships.” Ilyas Munshi, Group Commercial Director, EG Group.

HVS Invites Jake Berry to a Preview of Eg’s £25million Investment

Conservative Party Chairman, Jake Berry, was invited, to take an early preview of HVS’s (Hydrogen Vehicle Systems Ltd) first hydrogen fuel cell Heavy Goods Vehicle (HGV).

Backed by EG Group’s £25 million investment this month, UK founded HVS is driving ahead in decarbonising the heavy-duty transport sector.

HGVs contribute 26% of road transport emissions despite making up only 2% of vehicles on the road. Each of HVS’ innovative hydrogen-powered HGVs can prevent 104 tonnes of CO2 emissions per year.

More related stories on HVS

In the last 12 months alone, HVS completed their first hydrogen Medium Commercial Vehicle (MCV) prototype and are well underway in developing their second flagship HGV.

On his visit to HVS on 18th August, Jake Berry stated he foresees HVS and EG Group having the potential to provide enormous economic value to both local growth, jobs and export value. He added:

“This isn’t just a concept or pre-production vehicle, this is something truly ground-breaking, designed and built here in the UK that you are going to see here on the roads, in the UK, decarbonising our transport system.”

HVS are rapidly increasing staff numbers and will create jobs for engineers and wider business roles as they continue their powertrain development, begin verification and attribute prototype build and testing.

CEO of HVS Jawad Khursheed, who has led the company from a start-up to a competitive industry leading brand, stated:

“HVS are honoured to have EG’s and Jake Berry’s trust and conviction in our brand. We are proud to be providing the solution of state-of-the art technology, design, efficiency within hydrogen vehicles. We are leading in the Net Zero target, providing the logistics industry with a pioneering vehicle that will give range, comfort and a greener drive.”

HVS and EG Group aim to advance the UK Government’s declaration to become the first country in the world to commit to phasing out new non-zero emission HGVs. This is a unique partnership where EG have the potential to provide hydrogen refuelling infrastructure nationwide whilst HVS offer cutting edge, zero emission freight vehicles, working together to bring hydrogen to the market.

EG Group initially invested £5 million into HVS in 2021. Convinced of their rapid progress and secured technology, EG stated;

“We are committed to driving sustainability across our extensive UK and global fuel forecourt network by investing in HVS trucks, influencing the demand for hydrogen and vehicles in parallel from our large selection of partnerships.” Ilyas Munshi, Group Commercial Director, EG Group

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HVS (Hydrogen Vehicle Systems Ltd) is a British company founded in 2017. From an innovative powertrain design to ground-up production, HVS aims to disrupt the commercial vehicle industry by being the first to market with the most advanced, all–new zero emission HGV.

Leading the way in hydrogen electric vehicle design, HVS offers pioneering, cutting-edge solutions that will decarbonise one of the heaviest polluting sectors worldwide. Combining unique design, efficiency and performance; HVS will provide the ultimate driver experience at lower costs and lower emissions.

 

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