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Riversimple raises £1.5m to drive hydrogen mobility
© Riversimple

Riversimple raises £1.5m to drive hydrogen mobility

Riversimple has raised £1.5m ($2m) to power customer trials of its hydrogen-powered vehicles.

The Wales-based company on Thursday (July 22) said that it has secured a £580,000 ($805,000) investment from a syndicate of Welsh business angels led by lead investor Andre Diplock.

It also unveiled that match funding of £250,00 will come from the Wales Angel Co-Investment Fund, which is managed by the Development Bank of Wales.

Welcoming the new capital, Riversimple said it will utilise the funds to build vehicles for customer trials that began earlier this year in Abergavenny.

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