UK Based Manufacturer and Designer of Hydrogen Electric Vehicles

Indicative Offers Deadline:

Friday 28 March 2025, 5pm GMT

Project HGV

Hilco is pleased to announce the sale of the business and assets of a UK-based company specialising in manufacturer and designer of hydrogen electric vehicles on behalf of RSM UK Restructuring Advisory LLP.

The Company has years of skills, knowledge, and experience in the clean transport sector, focusing on hydrogen fuel cell technologies and positioned itself as at the forefront of the transition to clean and sustainable transportation. With a deep understanding of hydrogen fuel cell technologies, the business has developed full-scale hydrogen fuel cell truck prototypes and integrated powertrain systems.

Business Highlights:

• £45m received in investment as of March 2025, demonstrating strong financial backing and investor confidence.
• Four full-scale hydrogen fuel cell truck prototypes and a fully integrated fuel cell powertrain system.
• Significant investment into technology, patents and designs.
• Strong supplier and sub-contractor relationships, supporting the development and scale-up of hydrogen vehicle systems.

The Opportunity:

• The business is currently seeking a £30m strategic investment to deploy an AI control system across global freight networks, unlocking manufacturing, commercialisation, and rapid market entry.
• Opportunity to acquire the Company’s intellectual property, with a net book value exceeding £38m.
• High-impact potential in clean mobility for heavy-duty trucks through a technology licensing company focused on decarbonising road-freight transport.
• The transaction is expected to be completed on an accelerated basis. Prospective purchasers are invited to discuss a preferred structure for the acquisition. All reasonable transaction structures will be considered.

Available Assets:

The Company brand

Registered Trade Marks: The Company holds a portfolio of registered trademarks, with international coverage, protecting the brand & technology names logos;

Registered Designs: The Company holds a portfolio of registered designs of its fuel cell prototypes;

Proprietary Technology: The Company’s proprietary plug-and-play retrofit technology;

Patents: The Company holds a portfolio of patents relating to its proprietary technology;

Organisational Knowledge & Know-How: The Company’s well-documented technical and operational knowledge;

Domain Names & Website Content: The primary domain, and associated website content;

Social Media Accounts: Active presence across LinkedIn, Twitter, Facebook, Instagram and YouTube;

Supplier and subcontractor data: Well documented and digital records of suppliers and subcontractors data;

Tangible Assets:  Plant & machinery and a range of IT & office equipment.