One Planet Capital investment in eco friendly E-bikes conversion kit company
The One Planet Capital EIS fund focuses on companies and projects that will genuinely benefit the environmental prospects of the UK and the wider planet, supporting the emerging green economy. Investing into the eBike company Swytch will support the overall negative impact in busy urban environments that are being challenged. The investment from the OnePlanetCapital Environmental EIS Fund will deliver high environmental impact. Operating in a $23.89bn total addressable market, which is expected to grow to $47.68bn by 2026, the e-bike industry continues to transition customers away from motor vehicle and standard bike use and towards a more sustainable and efficient mode of transport. Transport accounts for 30% of global carbon emissions, with 72% coming entirely from road transport. This is where Swytch comes in – creating a product that is easy to set up and can be used on 99% of bikes world-wide, making the transition from standard bike use to an eBike simple and indefinite. They have been able to save more than 17,000 tonnes of CO2 over the past two years with 500+ car miles avoided annually per customer.