Riversimple

Idea

Introduction

At Riversimple we are developing hydrogen-powered electric cars.

With the sale of new petrol or diesel cars being banned from 2030 in the UK, we need practical, affordable alternatives.

We have designed and prototyped the Rasa, a light, convenient, zero-emission alternative to Battery Electric Vehicles (BEVs). Unlike the time it takes to recharge a BEV, our vehicles take up to 5 minutes to refuel.

We have been Beta testing our cars and service over the last year and are now ready to embark on mass production design. Using the powertrain and construction from the Rasa, we are developing a more versatile everyday runabout, with easier access and more boot space.

Rather than selling cars, we will sell Vehicles-as-a-Service (VaaS). This model makes efficiency and sustainability profitable. The more efficient the car, the longer it lasts, the more profitable it is. And with no batteries, we won't be relying on all those critical materials.

Better for the business, for customers, for the environment.

Monetisation strategy

We are aiming to meet the needs of those who would find a BEV inconvenient, impractical and expensive to run; e.g. those without access to home-charging.

Concentrating vehicles in local market segments facilitates refuelling, support and customer experience. Many people use local cars as part of their job – estate agents, delivery drivers, building inspectors, community nurses, etc. Local Authorities are a key customer base in the UK.

In our VaaS model, the monthly subscription and mileage rate covers everything, including fuel, and will be comparable to the total cost of owning and running a small petrol or diesel vehicle.

By amortising the vehicle build cost over the full lifetime of the vehicle, we can make cars affordable from the start.

Using plants making 5,000 vehicles a year we can start on a manageable scale and scale-up rapidly as demand grows, with each plant making a different vehicle. Revenue growth compounds each year as it is driven by the cumulative vehicle fleet.