A SCOTTISH hydrogen vehicle firm has hailed a £5 million capital injection from Beehive Equity Limited, a wholly-owned subsidiary of EG Group.
Glasgow-based HV Systems said it will now take its hydrogen vehicle designs through prototyping and demonstration, allowing manufacturing to begin.
HVS chief executive Jawad Khursheed said it is one of just a few UK based businesses focussed on decarbonising commercial vehicles.
“This is a massive moment for HVS," he said. “Our incredible design team have created two amazing zero emission vehicles, we have all of our component suppliers lined up and ready to go and we even have a range of end-users across the logistics, heavy-duty transport and health care sectors ready to demonstrate our game-changing vehicles in the real world.
“Over the next two years we are going to see not one, but two, revolutionary, world-first indigenous UK hydrogen-powered vehicles on our roads as we demonstrate our van first, then our truck.”
EG Group said it is optimistic about HVS' prospects.
Zuber Issa, co-founder and co-group chief executive of the EG Group, said: “Most credible data points indicate that the hydrogen industry is expected to grow significantly in the next decade."
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