Riversimple launches crowdfunding campaign to support hydrogen fuel cell vehicle

April 8, 2016 0 By Alicia Moore

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New campaign aims to raise funds to match a significant grant awarded by the European Union

Riversimple, an automaker based in the United Kingdom, has launched a new crowdfunding campaign to match a $2 million grant that has been approved by the European Union. The campaign is meant to support the development of a new fuel cell vehicle that Riversimple is working on, called Rasa. Riversimple will be using ShareIn, an equity crowdfunding platform that will allow the automaker to collect funds from supporters directly through its website.

Fuel cell vehicle may be less expensive than its counterparts

Riversimple recently revealed the Rasa, which is equipped with a hydrogen fuel cell. The company believes that it must take a new approach on the development of a fuel cell vehicle, especially as other automakers plan to launch their own fuel cell vehicles in the coming years. One of the issues facing these vehicles is how expensive they are for consumers. Riversimple aims to make an affordable fuel cell vehicle that will capture the favor of consumers in the United Kingdom.

Rasa is equipped with a hydrogen fuel cell, electric motors, and super-capacitors

Crowdfunding Campaign for Hydrogen Fuel Cell VehicleThe Rasa features a lightweight design, significantly lower than conventional vehicles. It also has four electric motors, each attached to one of the vehicle’s wheels. These motors receive their energy from a hydrogen fuel cell system, as well from motorized brakes, which recover 50% of kinetic energy while braking. The Rasa also has super-capacitors, which will be storing electrical power and will provide the majority of the energy needed during periods of acceleration.

Riversimple will have to conduct public tests to determine the capabilities of its fuel cell vehicle

Riversimple will need to develop a series of Rasa models in order to effectively conduct public tests over a 12 month period. This is one of the endeavors that the company’s new crowdfunding campaign will help finance. The automaker will also have to compete with a lacking hydrogen fuel infrastructure, as most of the UK’s hydrogen stations are located in London. Riversimple believes its new vehicle will cause a shift in the transportation space, encouraging other automakers to focus on cleaner forms of transportation in the future.