BOM & Sioux's investment shows commitment to industry challenger Lightyear
Helmond, Netherlands, July 3 2020.
Sioux Technologies and BOM Brabant Ventures invest in Lightyear. The investment is an endorsement by two established companies that acknowledge Lightyear’s added economic value for Brabant and to the regional network of partners, suppliers and educational institutions.
Lightyear is preparing for the first deliveries of their long-range solar electric vehicle (725 km), expected at the end of 2021. Both BOM and Sioux recognize that Lightyear has the potential to become a key player in the regional manufacturing industry.
“New car sales dropped by 53% in April”, says Jeroen Willems, Investment Manager at BOM Brabant “Yet, the disparities between different car brands was significant. Challengers of the incumbent automotive industry, such as Lightyear, are much less affected by the corona-crisis than traditional car makers. We expect the transition to sustainable mobility to accelerate even further as a result of the crisis.”
“For both Sioux and BOM it’s a great moment to demonstrate our trust, and invest in Lightyear. We all have common goals. This investment will fuel the economy, generate jobs and the development of new knowledge. Furthermore, this investment supports large societal challenges such as energy transition and smart mobility. We hope that our investment will encourage new financiers to follow our example.”
“Sioux was one of the early investors of Lightyear” says Arnoud de Geus, Director New Business Development at Sioux. “Being a development partner as well, we have been able to see the company mature on different levels from up close. This has given us the confidence to make a follow-up investment. There are great synergies with our knowledge and experience.”
Earlier this year Lightyear revealed its ambition to bring its core solar technologies to the market, starting by integrating solar roofs on other vehicles. Among their potential customers are companies in the Brabant region. The recently signed partnership with DSM strengthens the position of Lightyear to rapidly enter the B2B market.
“The Brainport region holds a unique combination of factors that are fundamental to our success,” says Lex Hoefsloot, co-founder and CEO of Lightyear. “This region’s manufacturing industry is truly world-class. Systems thinking is at the heart of technology development. Collaboration is part of our DNA and global talents gravitate towards the region. Sioux and BOM’s investment is the first step in long-term collaboration. We are grateful that we can tap into their knowledge and international network.”
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