In this series of articles, we introduce the companies included in the OPEN Equity Fund portfolio, all of which have been selected not only for their promising business plans and potential earnings but also for their sustainable, environmentally friendly products or technologies.
Dancer has designed an environmentally-friendly, ultra-light, fully electric city bus. The innovative vehicle has a series of distinct advantages not only over standard conventional fuel buses but also over other electric buses.
The low floor city bus weighs just 6 tonnes, yet has room for 92 passengers (compared to an average of 76). It will take just a few minutes to charge, while the competition requires around 2.5 hours, and will have a 50km range, in line with average city use.
Buses also include a 12-year maintenance and remote management system and are expected, upon combining amortization, fuel and maintenance costs, to result in savings of €41,200 per year for each unit.
Not only that, the buses are also extremely environmentally friendly. A conventional fuel bus produces 96,800 kilos of CO2 per year, Dancer buses on the other hand produce none at all as they are fully electric. By the end of 2020, Dancers assembly capacity will have allowed for a 63,000 tonne CO2 reduction.
Dancer’s target market groups are public transport operators, municipalities, private transport operators and shuttle service providers. The company has already signed agreements to provide a number of electric buses, six of which are to be assembled in 2018 with 2 already pre-sold.
The electric bus market is growing fast, driven by the global need for environmentally friendly, low carbon transport. There is a huge market potential, as annual global bus production is expected to reach 323,000 by 2021. There are currently 270 fully electric buses operating within EU countries alone and more are brought into use on a daily basis. By 2021, Europe will have an estimated electric bus demand of 2,800 per annum, America 1,500 per annum and Asia 16,700 per annum. It was recently announced that the mayors of 12 major cities across the world had pledged to buy only electric buses from 2025 onwards.
Visit the OPEN Cleantech Equity Fund website for further information on the portfolio companies, as well as a host of related documents for download - factsheets, press releases, videos, term sheet, Listing Particulars, due diligence documents and more.