Riversimple announces collaboration with Siemens to support hydrogen car production

Siemens will collaborate with hydrogen car maker Riversimple to help it prepare for full-scale production.

The two companies have signed a wide-ranging Memorandum of Understanding that cover skills development, sustainability initiatives and securing the required funding for volume production.

Riversimple aims to start commercial production of its Rasa coupe in 2023 and a light goods vehicle the following year.

Hugo Spowers, MD of Riversimple, said: “Siemens is involved in green energy generation and has a history of enabling technology companies like ours. They share our passion for sustainability, hydrogen and the circular economy and have deep expertise in technology software and plant simulation as well as financing the tech sector. We are very much looking forward to building this relationship.”

Currently, Riversimple is building a low volume production run of Rasas for a trial with the general public based in Abergavenny in Monmouthshire.

Brian Holliday, MD Siemens Digital Industries GB & Ireland, added: “We are delighted to be working with Riversimple, a UK company, which has designed and built a revolutionary electric car that runs on hydrogen.

“We support firms that produce boundary-breaking products in terms of design, manufacturing and performance. It is particularly satisfying when we get to support a programme with sustainability at its heart that can make a difference to the health of our planet.”

Riversimple has also announced the appointment of Gambit Corporate Finance and an investment round that aims to raise £150 million over the next three years, which is set to fund two manufacturing plants.