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Vantage Power closes GBP2.5m funding round

Vantage Power, a London-based hybrid powertrain manufacturer for buses, has secured GBP2.5 million in funding with the former CEO of Barclays Corporate Banking, John Winter, leading the round.

The round also included investment from the Angel CoFund and Till Becker, ex-board member, president and CEO of Daimler Asia, Turkey, India.
Winter and Becker are joining the board of Vantage Power.
Vantage Power, founded by Alexander Schey and Toby Schulz in 2011, manufactures hybrid systems for both new buses and those already on the road – a retrofit solution which can convert four traditional diesel buses into fuel-efficient hybrids for the cost of one new bus. Vantage Power also provides highly advanced remote control and telemetry with all its hybrid systems, allowing bus operators to greatly streamline fleet management, maintenance, fuel economy and emissions.
The funding will be used to further develop the technology behind the company’s products as well as invest in hiring more engineering, manufacturing, sales and C-level talent to help the business scale effectively.
Schey says: “Attracting investment and top talent are two of the most critical aspects to any business, but particularly high tech growth companies like Vantage Power. I am delighted that with this investment round we have been able to secure the best of both, and I very much look forward to working with John, Till, and the Angel CoFund to build Vantage Power into a truly stellar global enterprise.”
Winter says: “The Vantage Power team led by Alex and Toby is truly world class. I am delighted to support their credible plans to bring eco-friendly solutions and cutting edge technology to their demanding customer base."
Tim Mills, investment director at the Angel CoFund, says: “The need for more responsible energy consumption has been understood for some time, but the negative impact of emissions at a local level is something that the public and policy makers are only just beginning to get to grips with. London’s streets have some of the highest levels of NO2 in the world, with the city’s transport infrastructure, namely buses, playing a big part. Vantage Power’s exceptional engineering takes hybrid technology to a new level, creating a genuinely practical and cost effective solution for urban centres globally. We’re very pleased to be backing the team with such opportunity to deliver true local and worldwide benefits.”

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