Scottish HGV Manufacturer Secures Investment for Hydrogen-Electric Trucks in Qatar-UK Climate Tech Fund
Key Ideas
  • Excelledia Ventures, a Qatari AI software supplier, invests in Scottish HGV manufacturer, Hydrogen Vehicle Systems (HVS), known for developing zero-emission hydrogen-electric trucks.
  • HVS's AI emissions reduction technology optimizes diesel, battery, and hydrogen-powered trucks for efficiency and emission reduction, with a hydrogen HGV having a range of 370 miles and a 20-minute refueling time.
  • HVS potentially eligible for funding from a $1.27 billion Qatari-UK climate tech fund, aiming for a Nasdaq listing in 2027 after raising over $100 million in grant funding and investments.
  • Abdul Waheed, CEO of HVS, sees the Middle East leading the global hydrogen push and welcomes the first international investment from Excelledia Ventures Group.
Excelledia Ventures, a Qatari AI software supplier, has invested in Hydrogen Vehicle Systems (HVS), a Glasgow-based HGV manufacturer focused on developing zero-emission hydrogen-electric trucks. HVS has introduced an AI emissions reduction technology that enhances the efficiency and reduces emissions of diesel, battery, and hydrogen-powered trucks. Their hydrogen HGV offers a range of 370 miles and a refueling time of about 20 minutes. The CEO of Excelledia Ventures, Muhamed Farooque, highlighted the potential in HVS's AI innovations, stating that it aligns with their transformative technology for optimizing business performance. This strategic investment positions HVS to potentially access funding from a $1.27 billion Qatari-UK climate tech fund, aimed at furthering their innovative solutions. Abdul Waheed, CEO of HVS, emphasized the Middle East's progress in leading the global hydrogen initiatives, expressing gratitude for the region's resources and expertise. This collaboration marks HVS's first international investment, complementing their existing funding of over $100 million and setting the stage for a future Nasdaq listing in 2027. The partnership between Excelledia Ventures and HVS showcases the growing interest and support for sustainable transportation solutions, particularly in the hydrogen sector. With a focus on advancing AI technologies and reducing emissions, the collaboration signifies a step towards a greener future in the transportation industry.
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