Role 1220
To apply for role click HERE
Our client, Moonlight Energy, a company headquartered in the UK, has developed a comprehensive solution for tackling exhaust and noise emissions from scooters and motorbikes – a sector responsible for 13% of all passenger traffic emissions even though they account for only 1% of miles covered!
- Over 7 million premature deaths globally are attributed to poor air quality (over 30,000 in the UK) and this costs the National health service nearly £2 billion annually.
- Government legislation to phase out Internal combustion engines by 2035. For example, the ultra-low emission zone (ULEZ) in London.
- With the recent boom and projected growth of fast grocery delivery start-ups, product prices and CO2 emissions will rise exponentially unless something changes.
Their innovation (Swap-it) is an off-the-shelf portable battery swap system for electric motorcycles, scooters and tricycles. Their goal is to make last mile transport affordable, sustainable and efficient.
- As much as half the cost to own and operate
- Convenient monthly subscription plans
- Zero tailpipe emissions
- App enabled
- Other uses for the swappable batteries (energy at home)
Swap-it allows for quick charging in just 2 minutes by swapping a depleted battery for an already charged battery. This can help extend the lifespan of batteries for industrial vehicles, such as electric forklifts. Battery swapping charges batteries slowly, unlike supercharging, which can degrade them quickly.
They will use Honda-e standard batteries to increase compatibility with different motorcycle and tricycle models.
Business model:
The primary business model is Transport-as-a service (TaaS) i.e., building a battery swap station network to address the range anxiety concerns of riders. However, there are two additional income streams.
- Franchise revenue model
- Financing revenue model
They expect to be profitable by year two of operation and are forecasting an ROI of 30% by year 5 on revenue of circa £19m
Our client has been awarded £250k in grant funding to pilot and trial their solution in London and Nigeria. They are looking to close £500k in pre-seed funding to provide “matched funding” for their grant and for an eventual rollout.
Management Team:
Our client has assembled a team of highly skilled individuals to drive the business forward led by a serial entrepreneur Emmanuel Igbinovia who is an Alumni of Imperial College London.
Non-Executive Director Recruitment:
We are seeking three Non-Executive Directors (NEDs) with expertise in some of the following areas:
- Finance, specifically a CFO/FD experienced in fundraising for early-stage and scale-up companies, with knowledge of grant funding and tax incentives.
- B2B sales and commercial partnerships to enhance our customer base and revenue.
- Logistics/Supply chain management within the automotive industry.
Business Proposition:
Incoming Non-Executive Directors will have the opportunity to become shareholders with an initial investment between £25k and £50k, aligning their interests with those of the existing Board Members.
The company is registered for SEIS tax relief.
Interested candidates who meet these criteria will be provided with a pitch deck upon signing an NDA. The role will require approximately 1 to 2 days per month, potentially more during the initial stages.
Closing date for applications is 14 June 2024
