Vantage Power, the London-based high-tech company that has developed a cost effective emissions and fuel saving solution for buses, announced today that it has been selected by Sadiq Khan, Mayor of London, for a trade mission to Madrid on 29th and 30th March.
Vantage Power, a major contributor to the Mayor’s Clean Air Action Plan, has retrofitted a fleet of London buses with its hybrid-electric powertrain technology, reducing fuel consumption and harmful emissions by 40% and 60% respectively. As well as retrofitting buses, the company is working with several international bus manufacturers that wish to deploy Vantage Power’s technology in the new bus OEM market.
Madrid, London and many cities around the world suffer from chronic air pollution. In December 2016 the air quality deteriorated to such an extent in Madrid that its Mayor ordered that half of all private cars be taken off the road. In the same month it was agreed that all diesel vehicles would be banned from Madrid’s city centre by 2025.
Deputy Mayor for Business, Rajesh Agrawal, said: “I am delighted that Vantage Power is joining us in Madrid as we showcase some of the most innovative and entrepreneurial businesses London has to offer.”
“Our great city has a long and proud history of trading and doing business with our friends overseas and that will never change.”
“The Mayor and I look forward to working with Vantage Power, to build new relationships, attract investment and show the entire continent that London is Open and the best city in the world to do business with.”
On the mission, Vantage Power will meet with bus operators and city officials to understand how its hybrid retrofit technology could be applied to their fleets. Madrid has 1,900 buses on its road, of which 1,116 are powered by outdated and polluting diesel engines. Vantage Power will promote its technology as a best in class solution to this challenging global problem.
This announcement follows several recent high-profile achievements by Vantage Power, such as the visit by His Royal Highness, The Duke of Edinburgh to commemorate the introduction of London’s first hybrid retrofitted buses. This year, advised by Innovator Capital, the company closed a round of funding, which included personal investments from the former CEO of Barclays Corporate Banking and a former board member, President and CEO of Daimler AG, amongst others.