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Kleanbus launches crowdfunding campaign to further accelerate pioneering bus repower offering

Kleanbus launches crowdfunding campaign to further accelerate pioneering bus repower offering

Expert bus repower company, Kleanbus, has launched an equity crowdfunding campaign to further accelerate business growth. Utilising Crowdcube, Kleanbus has already hit more than 80 percent of its £250,000 target, with over £200,000 raised, which will support more than £500k of Angel investment to date.

Leading the repower sector, Kleanbus has developed a pioneering solution that can transform any diesel (or hybrid) bus into a zero-emission, electrically powered vehicle. The company’s state-of-the-art e-powertrain technology combines proven electric powertrain components from leading Tier 1 suppliers with Kleanbus’ own integration technology and proprietary software.

With a repower capable of being carried out in as little as two weeks, Kleanbus gets buses back into service as quickly as possible, at a cost one fifth of a new electric bus with a third of the operating costs of diesel buses, while making a huge contribution to reducing urban pollution.

Offering an inclusive and democratic investment platform, Crowdcube fundraising further aligns with Kleanbus’ pending B-Corporation status, which is awarded to companies excelling in making a sustainable and ethical impact. The B-Corporation is a global movement of businesses striving for an inclusive, equitable and regenerative economy.

The minimum investment level on Crowdcube is £10, with a single share costing £1. All shareholders will receive exclusive company updates and play a vital role in the removal of diesel engines from roads. As part of their investment, UK taxpayers are eligible for 30% EIS relief on their next tax bill.

Ensuring that the investment process is open and fair, there is only one type of shareholding. Each share carries one vote, pre-emption rights on an issue or transfer of shares, and equal economic rights to a dividend or distribution to other ordinary shares in issue. When shares are purchased on Crowdcube, all investments are initially classed as an ‘expression of interest’ and no money is taken until the round is complete.

Joe Tighe, Co-Founder and CEO of Kleanbus, said: “We are delighted to be inviting public investors to further boost Kleanbus’ significant existing fundraising and rapid business momentum. We are already seeing a hugely positive response in the level of investment to date as we enter the final stages of vehicle development and move towards pilot schemes with major UK bus fleet operators. As a company that is committed to driving positive change, we believe it is right to give people the opportunity it be a part of it this revolution. Crowdcube is the ideal platform to facilitate this, and we are excited for our shareholders to join us on our journey.”

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