Start-up HVS receive £25 million investment from EG Group

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By Luke Willetts - 24th November 2022

Start-up HVS receive £25 million investment from EG Group

EG Group's commercial director Ilyas Munshi tests out HVS' latest hydrogen vehicle prototype

UK – In September 2022, Glasgow-based start-up manufacturer, Hydrogen Vehicle Systems Ltd (HVS) received an investment of GBP25 million from British fuel station operator and food retailer, EG Group, to produce a hydrogen fuel cell tractor unit for long haul operations. HVS has received funding from the EG Group as part of the EG Group’s holistic approach to decarbonise its fleet of vehicles – the EG Group owns ASDA, one of the largest retailers in the UK, food and drink franchise operations such as KFC and Costa Coffee, as well as more than 7,000 refuelling stations across the UK. According to HVS, the EG Group is looking to provide hydrogen refuelling infrastructure nationwide making HVS a strategic partner in bringing hydrogen as a transport fuel to market.

HVS, a start-up, which has already built two prototype vehicles with government support (Scottish Enterprise and Innovate UK) - a chassis cab for an ambulance and a technical demonstrator vehicle, a rigid bodied 5.5-ton gvw truck – is now focussing on developing a 19t gvw 4x2 tractor unit.

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