The Dutch car manufacturer Lightyear announces a collaboration with SHV, supported by a strategic €20 million investment, as part of their current investment round. Earlier this year, the Helmond based TU/e spin-off secured an investment of €40 million.
SHV recognises that we are at the forefront of a historical market transformation, which happens only a few times per century. By ensuring a faster transition from combustion-powered vehicles to electric transport, the collaboration will strengthen both companies’ contribution to energy transition and create a positive impact in serving global zero-carbon climate goals.
Jeroen Drost, CEO of SHV: “We are very excited about this strategic partnership. It aligns with our view on creating a sustainable future and it is a perfect fit with our purpose – “Courage to care for generations to come”. We see several opportunities for cooperation and exchanging technical knowledge between Lightyear and a number of the businesses that are part of the SHV family.”
Subscribe to our Newsletter!
Lex Hoefsloot, CEO of Lightyear: “We greatly value and share the vision of SHV. Their entrepreneurial spirit, long-term focus, knowledge of different industries, and global mindset are of great value to Lightyear’s mission, to provide “Clean mobility for everyone, everywhere”. We are now more ready than ever to get our first cars on the market and to demonstrate our technology.”
Earlier this year, Lightyear, secured an investment of €40 million. This financing round was led by an investment vehicle from a Swiss family. The company is also exploring the possibility of going public. Despite, or arguably thanks to the corona crisis, Lightyear sees a lot of opportunities for going public.
“There is an overwhelming demand from investors for good sustainable companies to invest in. You can also see that this has accelerated since corona,” said Tessie Hartjes, VP Marketing at Lightyear. “What you are seeing is that the market conditions are favorable. There are low-interest rates and there is plenty of capital looking for sustainable companies like Lightyear. That gives us the chance to raise funding that will help us get ahead in the next two to three years.”
Read also other stories on Lightyear.
Innovation Origins is an independent news platform that has an unconventional revenue model. We are sponsored by companies that support our mission: to spread the story of innovation. Read more.
At Innovation Origins, you can always read our articles for free. We want to keep it that way. Have you enjoyed our articles so much that you want support our mission? Then use the button below: