Viritech
Viritech develops lightweight, space-efficient powertrain technologies for hydrogen vehicles. Beginning with the Apricale hypercar project, Viritech’s team have developed lightweight space-efficient technologies which eliminate the weight and range penalties of zero-emission transport solutions, enabling a future which doesn’t require compromise. Founded by a serial entrepreneur and a high-performance powertrain engineer, with VC-backing, Viritech is raising to support its commercial growth plan. Patented and differentiated technology Partnerships with Ford, BP, Anand Group, Linamar, MIRA, and Lola Regulation requires zero-emission powertrains from 2030 onwards >£2.6m in awarded non-dilutive UK government grants and VC backing US expansion in 2024 due to Inflation Reduction Act subsidies Proven management team: CEO with 2 exits and CTO with F1 experience
New York
USD
KWD
Cash Requirement
$ 1200000
Minimum Franchise Fee
$ 2500
Franchise Units
4
Multi Units
Franchise Since
2023
Leadership
Various (confidential), HNWs and founders
Viritech’s products are the key enabling technologies between a hydrogen fuel cell and electric motor. In traditional internal combustion vehicles, an engine produces power for the wheels – there is just one energy vector. On hydrogen vehicles, however, energy can be drawn from a fuel cell, battery or recaptured under braking – three energy vectors. The cost of mismanaging or poor optimisation of this energy management results in heavier vehicles, reduced range and inefficient use of our world’s scarce resources. Viritech’s products are therefore focussed on managing energy on vehicle in the most optimised way. This includes highly response hardware and advanced software to manage the hardware, namely: DC-DC converter: a component used to convert voltage level from one level to another. Viritech’s main competitor requires two DC-DCs, one for the fuel cell and one for the e-motor, each costing c.£25,000. Our converter can manage both from a single unit with a target cost of £5,000. Energy management software: in order to closely manage on vehicle power as described above, very fast response capability is required from the hardware (delivered by Viritech’s DC-DC and battery management system), but software is required to operate the hardware to its full capability. Viritech’s software optimises energy management between the fuel cell, battery and energy recapture using high-speed monitoring and predictive analytics Battery packs: at the moment, most hydrogen fuel cell vehicles still use very heavy batteries. Viritech’s battery technology is instead optimised for performance, i.e. rapidly delivering (and recapturing power). As a result, Viritech’s battery packs are much smaller (up to 85% relative to some fuel cell vehicles) and consequently much lighter (4.5T less than in a battery electric truck), rapidly discharging power for the short periods needed. Having high performance batteries also means that a vehicle can recapture significantly more braking energy Pressure vessels: Hydrogen is the smallest element in the universe so preventing leakage requires thick vessels which are often heavy. In gaseous form, even when compressed to 350 or 700 bar on vehicle, it also takes up quite a lot of space – you need c.4 times as much volume to store the same amount of hydrogen on vehicle as gasoline for equivalent range. Using advanced materials, Viritech is not only able to drive weight out of the pressure vessels themselves, but its technology also allows them to be incorporated to the structure of the chassis. This means overall chassis weight is reduced, and the volume problem is somewhat solved, because the vessels can fit into spaces already used for chassis members (e.g. the rear bulkhead)
Description
Viritech’s business model is to develop enabling technologies which sit between the fuel cell and electric motor in a hydrogen fuel cell powertrain and license those technologies to OEMs and Tier-1 suppliers, generating high- margin recurring income – first revenues expected in Q4 2023.
Manufacturing

Team

Various (confidential)
Leadership

HNWs and founders

Full cap table available upon request and post NDA

In response to industry interest, Viritech has accelerated its growth plan – it’s now been awarded six UK government-backed grants so far, gained the backing of 2 cleantech-specialist VCs, and secured a series of major partnerships. Consequently, Viritech is raising £2m of equity capital, in addition to £2.6m of committed, non-dilutive UK grant funding. These funds will be used to: Develop its technologies into market-ready products Demonstrate products in vehicle trials with partners, including OEMs and Tier-1s Grow revenues to £1m in 2024 and £4m in 2025
Starting Costs and Investment Requirement
Total Investment
$ 1500000
Cash Requirement
$ 1200000
Net Worth Required
$ 17500000
Franchise Since
2023
 Minimum Franchise Fee
Minimum Franchise Fee
$ 2500
Royalty Fee
% 35000
Units
Total Number of Units
4
Average Unit Revenue
$ 750000
Training and Support
Multi Units
USD
KWD
Cash Requirement
$ 1200000
Minimum Franchise Fee
$ 2500
Franchise Units
4
Multi Units
Franchise Since
2023
Leadership
Various (confidential), HNWs and founders
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