A Scottish company behind the development of a 4×4 electric vehicle has received investment from a fund backing low-carbon projects.
Elbow Beach Capital has injected £750,000 into Munro Vehicles to enable further prototypes to be built at its facility in Dalmarnock, Glasgow, and to open a unit in East Kilbride for development. The team of six will be expanded.
Munro Vehicles was launched as All Terrain All Electric in 2019 by co-founders Russ Peterson and Ross Anderson, targeting heavy industrial users, estate owners, forestry workers and farmers looking for a clean energy alternative to off-road vehicles.
The Mark 1 prototype is said to have a range of 150 miles on a single charge and capable of carrying 1,000 kg. The first pre-orders were taken before the end of last year.
Ross Compton, who previously held positions at Bollinger Motors and Atlis Motor Vehicles, joined in December as head of design. He owned his own automotive design studio providing design consultancy.
In January the company signed an MoU to establish the UK’s first Munro distribution and support partnership with Off Road Electric to become a reseller.
The vehicle has featured on Channel Five’s Fifth Gear, the Discovery channel and Quest.
Jon Pollock, chief executive of Elbow Beach Capital, a social impact venture vehicle established in London last year with an initial £20m of committed capital, said: “We have seen the prototype in action and were incredibly impressed by its versatility and performance under challenging conditions.” Mr Pollock is joining the Munro board.
Peterson said the team has proved that the concept works and he hopes an assembly line can be turning out vehicles within the next 12 months after which it will probably seek out new funding.