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Viritech is a Cleantech engineering company set up to develop hydrogen powertrain solutions for the Automotive, Aerospace, Marine and Distributed Power industries. With a highly experienced management team, Viritech is an opportunity to invest in a company with a mission to deliver solutions for the hydrogen economy

  • F1-derived engineering
  • Development pipeline includes Hypercar, HGV and SUV designs
  • Designing powertrains suitable for multiple industries and applications
  • Patent filed for graphene hydrogen fuel tanks
Information £246,310 of funds on the progress bar represent funds raised by the Company prior to launching the campaign. The Company has already received these funds and the Company has indicated up to £280,000 may be spent whilst the pitch is live. Completion of the Crowdcube raise will occur on the same material terms and share price.

Idea

Global electrification will require massive storage to meet off-grid demand. Lithium batteries are part of the solution but hydrogen outperforms batteries as power requirements increase, and for long term storage.

The Hydrogen Council forecasts hydrogen will meet 18% of global energy demand by 2050, and governments are now committing huge investment.

Viritech, a start-up led by a highly experienced management team, is using F1-derived engineering to develop hydrogen powertrain solutions and related technologies.

Like ARM, Viritech's primary model is to design, prototype, test and license technology to global manufacturers, targeting high margin recurring revenues.

In early discussions with a manufacturer and energy provider, Viritech will use this round to work towards the completion of the R&D for its first powertrain (for the Apricale/HGV/SUV), planning a larger raise and listing on AQSE in 2022.

Based at MIRA, Viritech has access to R&D facilities used by many of the world's major automotive manufacturers, allowing it to scale its resources to meet the demands of every type of project.

With funds from this round, Viritech plan to produce test hydrogen tanks; build the Apricale test vehicle and complete designs for HGV, SUV and Power Generator. Further funds will then be raised to start to commercialise this technology with their partner.

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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.

Viritech 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.