Bus repower company Kleanbus has launched an equity crowdfunding campaign to further accelerate business growth. Utilising Crowdcube, Kleanbus has already hit more than 80% of its £250,000 target, with over £200,000 raised, which will support more than £500k of ‘Angel’ investment to date.
Kleanbus has developed a conversion to transform a diesel or hybrid bus into an electric zero-emission vehicle. The company says its e-powertrain technology combines proven electric powertrain components from leading suppliers with its own integration technology and proprietary software. With a repower capable of being carried out in as little as two weeks, the firm says it gets buses back into service as quickly as possible, at a cost one fifth of a new electric bus and with a third of the operating costs of diesel buses, while making a huge contribution to reducing urban pollution.
Offering an inclusive and democratic investment platform, Crowdcube fundraising further aligns with Kleanbus’ pending B-Corporation status, which is awarded to companies excelling in making a sustainable and ethical impact. The B-Corporation movement is a global group of businesses striving for an inclusive, equitable and regenerative economy.
The minimum investment level on Crowdcube is £10, with a single share costing £1. As part of their investment, UK taxpayers are eligible for 30% EIS relief on their next tax bill. When shares are purchased on Crowdcube, all investments are initially classed as an ‘expression of interest’ and no money is taken until the round is complete.
Joe Tighe, Co-Founder and CEO of Kleanbus, said: “We are delighted to be inviting public investors to further boost Kleanbus’ significant existing fundraising and rapid business momentum. We are already seeing a hugely positive response in the level of investment to date as we enter the final stages of vehicle development and move towards pilot schemes with major UK bus fleet operators. As a company that is committed to driving positive change, we believe it is right to give people the opportunity to be a part of this revolution. Crowdcube is the ideal platform to facilitate this, and we are excited for our shareholders to join us on our journey.”
