Tevva the subject of equity interest purchase by American pharma company
By Bradley Osborne - 4th October 2021
UK / USA – Alkido Pharma Inc, a biotechnology company based in New York City, USA, has purchased an equity interest in Tevva Motors Ltd, a designer of zero-emission truck concepts based in Chelmsford, UK.
Though Tevva falls well outside of the firm’s product portfolio of cancer therapeutics, Alkido Pharma sees an investment growth opportunity in the truck company. Anthony Hayes, CEO of Alkido Pharma, explained: “From a commercial standpoint, delivery trucks are a $100 billion global market and demand for a cost effective, zero emission solution is growing by the day. With strategic partners and early customers including, Ryder, Hitachi and UPS, and with Tevva vehicles already being used in their delivery services, Tevva is well positioned to take advantage of this rapidly growing sector. [...] this unique and high growth opportunity represents an opportunity to partake in a rapidly expanding field, with the possibility of an exit in early 2022 as Tevva pursues a public listing.”
