Viritech announces investment from Arosa Capital
Thursday 26 January 2023
Viritech, a leading developer of high-performance hydrogen powertrain solutions, is delighted to announce investment from Arosa Capital
Viritech is developing new technologies to transform the efficiency of hydrogen fuel cell vehicles
Arosa Capital supports investing in the energy transition, expected to lead to one of the largest capital re-allocations in the last 20 years
Viritech, the leading developer of advanced hydrogen fuel cell powertrain technologies, has capped a very successful 2022 with investment from Arosa Capital, a US-based fund manager specialising in energy investments. This will enable Viritech to accelerate its development pipeline of industry leading hydrogen powertrain products for the automotive sector.
Viritech lightweight powertrain solutions deliver the zero emissions of battery electric vehicles (BEV), while achieving weight-parity with internal combustion engines. For sports cars, that means they can retain the agility of the best current Hypercars, and for trucks, it means the same payload and productivity as traditional diesels, but without CO2 and NOx emissions.
As a result, Viritech has a growing pipeline of development opportunities with some of the automotive world’s most important OEMs and Tier-1s, ranging across high-performance cars, light commercial vehicles (LCVs) and heavy goods vehicles (HGVs).
Timothy Lyons, CEO of Viritech said, “Viritech continued to make great progress in 2022, with our game-changing hydrogen fuel cell technologies rapidly gaining recognition across the automotive industry. We are therefore delighted that Arosa Capital shares our ambition to lead the way towards Sustainable Transportation. Arosa Capital’s investment will help us accelerate our development pipeline throughout 2023, when we expect to announce a growing list of partnerships with major automotive companies.”
Till Bechtolsheimer, CEO of Arosa Capital said: “Viritech has made outstanding progress to date and we look forward to contributing to that growth. Hydrogen is increasingly seen as a vital part of the transition to zero-emissions transport, and Viritech’s pioneering technology and team are in a strong position to set the global standard for hydrogen powertrain efficiency.”
Notes to Editors:
About Viritech
Viritech are passionate cleantech engineers with the goal of becoming the world’s leading developer of hydrogen powertrain solutions.
Focussing on areas where hydrogen fuel cells offer immediate benefits, the company is currently developing hydrogen powertrains for HGVs, LCVs and high-performance cars. Future applications for Viritech’s hydrogen powertrain technologies, are expected to include aircraft, marine and off-grid energy.
With an F1-derived engineering culture, focussed on agile innovation and the creation of valuable, licensable IP, Viritech’s business model is to design, prototype, test and license its technologies to global OEMs and Tier 1 suppliers.
For more information, please visit viritech.co.uk
About Arosa Capital
Arosa Capital Management LP is an alternative investment manager that focuses on investments in alternative energy, traditional energy and related sectors. Founded in 2013, Arosa Capital utilizes a differentiated approach rooted in rigorous fundamental analysis and deep sector expertise to invest in private and public companies as well as in credit and commodities. More information about Arosa Capital can be found at www.arosacapital.com.
