A GLASGOW company’s plans to bring forward green lorries have received multi-million-pound backing.
Hydrogen Vehicle Systems hailed a £15 million grant from the UK Government’s Advanced Propulsion Centre as part of a wider funding package to support zero-emission transport.
HVS, a "zero-emission, hydrogen-powered commercial vehicle innovator", was awarded APC funding following its entry into its competition for developing automotive technologies.
The company said it is leading innovation in hydrogen mobility in the form of the UK’s first “indigenous, clean-sheet, hydrogen fuel-cell Heavy Goods Vehicle”.
APC’s funding, which is aimed at supporting the UK’s long-term capabilities by securing long-term R&D investment in collaborative, pre-production research and development projects, will support 50% of the project’s approximate £30 million.
The project, which will run until 2025, comprises a consortium led by HVS and includes Grayson, Fusion and PNDC, a commercial arm of Strathclyde University specialising in power electronics.
Jawad Khursheed, HVS chief executive, said: “We have successfully produced our first driving fuel cell technology demonstrator vehicle and are on track to deliver the UK’s first-to-market hydrogen fuel cell-powered HGV.
“We have experienced rapid growth at HVS in as little as a year, now with this government support we will boost innovation, create thousands of UK-based jobs in the supply chain, and build upon our goal towards cleaner HGVs.”
Earlier in November, HVS revealed its game-changing hydrogen powertrain in the form of a 5.5-tonne technology demonstrator, previewing its planned 40-tonne zero-emission HGV, fulfilling the company’s objective of being the first indigenous UK designed and developed hydrogen-electric HGV on the market.
Founded in 2017, in Glasgow, HVS focuses on the ground-up design and development of zero-emission hydrogen-powered commercial vehicles.
The company comprises industry specialists, with vast experience in the automotive, energy, hydrogen technology, power electronics, sustainability and environmental management fields.
AG Barr acquires energy drink Boost in deal worth up to £32m
SCOTTISH soft drinks giant AG Barr has made a big move into the energy drinks market with the acquisition of Boost Drinks in a deal worth up to £32 million.
The Irn-Bru maker has paid an initial £20m for Boost, which is being acquired from founder Simon Gray and wife Alison. An additional consideration of up to £12m will be payable, depending on the future revenue and profitability performance of Boost over a two-year period on completion of the deal.
The state of football
WITH a global sports audience currently transfixed by the FIFA World Cup in Qatar, two of Scotland’s leading entrepreneurs have sought to examine more closely the business nature of the "beautiful game".
Speaking on the Go Radio Business Show with Hunter & Haughey, Sir Tom Hunter said: “Manchester United is up for sale, Liverpool is up for sale, Paris St-Germain is up for sale . . . Now these clubs are owned by people who have invested in football to make money."
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