Clean fuel specialist Perpetual V2G has closed a six-figure funding round and appointed a new chief operating officer to drive significant growth.
Under the deal, existing shareholder Finance Wales has converted its £500k loan to equity. In a combined capital raise from existing shareholders, almost £300k of further funding was raised.
In addition, business growth specialist Mervyn Ham has joined the company as chief operating officer, as well as joining the investor group in backing the business.
Perpetual V2G already supplies mobile clean energy power solutions to fleets including Sainsbury’s and British Telecom who need new forms of power to manage their vans. Earlier this year, the firm awarded Fraikin an exclusive deal to lease a new battery system to power refrigeration units fitted to 3.5-tonne LCVs.
Andy Ling, founder and CEO, said: “I am delighted to have closed this funding round and equally delighted that Mervyn Ham has agreed to join the senior team. His years of experience in high growth businesses will be a major asset.”