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Sunswap's solar and battery-powered transport refrigeration units keep food, medicine and vaccines cold whilst on the road. With the working prototype built and two UK government funded projects underway, Sunswap are accelerating towards deploying their first unit on the road in Autumn 2021.

  • Patent-pending software, solar and battery technology
  • Working prototype successfully built and tested
  • Awarded £217,000 in equity-free government grant funding
  • TRU market estimated to be worth £13.4bn in 2030

Idea

Sunswap aims to decarbonise the cold chain with zero-emission Transport Refrigeration Units (TRUs).

Diesel-powered TRUs are expensive to operate and will become even more costly in 2022 when cheap red diesel is banned, increasing costs by 47p per litre of diesel. They are also highly polluting - we calculate replacing a diesel TRU with a Sunswap TRU could be the equivalent of removing 31 cars from the road.

Sunswap estimate there are currently 5.6m TRUs on the road globally. We expect this to rise to 8m units, with a market worth £13.4bn by 2030. We believe electric TRU sales will follow the electric vehicle adoption curve with a 60% year-on-year growth.

Sunswap's patent-pending technology provides operators with a zero-emission alternative to their existing diesel TRUs. A working prototype has successfully proven capability to meet temperature requirements of -22°C. We're collaborating with six major UK supermarkets on product development, with aims to secure sales with them in 2021.

Sunswap is moving quickly and achieved key milestones in 2020:

- March: investment from Sustainable Ventures

- June: filed patent application

- August: awarded £217,000 in equity-free government funding, partnering with Imperial College London and Cenex

- September: prototype testing complete

We're raising to grow the team, build the next generation product and secure sales by the end of 2021.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Sunswap has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.