Denis Sverdlov (pictured), former CEO of USD1.2 billion LTE mobile broadband services provider, Yota, and inventor of YotaPhone, has founded Kinetik, a new USD500 million international investment company.
Kinetik, which plans to invest in innovative, fast growing businesses, has made its first UK investment by founding and investing in Charge, a rnew UK automotive business.
Charge, headquartered in Enstone, Oxfordshire, UK, develops revolutionary range-extended electric powertrains for commercial vehicles. It has two propositions that give it an edge over other solutions: cost and scalability.
Firstly, Charge’s product is expected to come to market at a price comparable to a conventional carbon fuel solution (excluding the battery cost); and secondly, it is designed to work in vehicles from 2.5 to 26 tonnes. Combined together, these features will form an important part of Charge’s strategy to move the commercial vehicles market towards EV technology. Charge employs 40 engineers led by Glenn Saint, Technical Director, formerly part of the senior management of Optare Group, a UK commercial vehicle manufacturer specialising in the development of electric buses.
Kinetik invests in high growth companies which bring scalable and positive disruptive innovations to their industries. By leveraging its expertise and financing capabilities, Kinetik will bring extensive knowledge to help investee companies and their management teams to deliver disruptive technologies and products to millions of people.
The investments are made at seed and start-up phases, and Kinetik’s initial sectors of focus include healthcare, alternative energy, automotive and the Internet of Things.
Sverdlov says: “We believe the biggest assets a company has are the people at its helm, and a simple yet powerful idea at its heart. We are not restricted by borders or specific markets and industries: great invention transcends this. Our vision is to find the world’s brightest minds who share our energy, commitment and drive and help them create game-changing products and technologies to improve the way we live.”
Glenn Saint, Technical Director of Charge Automotive, says: “I am excited to be working with Denis and the Kinetik team. Their support and advice has formed an essential foundation for our journey to transform the automotive industry by using revolutionary technologies to make cost effective, energy efficient commercial vehicles. Kinetik’s forward-looking approach is helping to bring our ideas to reality.”