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The makers of a revolutionary hydrogen car say they are closing in on their £1m crowdfunding target.

Independent hydrogen carmaker Riversimple has announced a closing date of March 31 for its crowdfunding round.

To date, the funding has reached £731,585 of the £1m target, suggesting investor confidence has been boosted by recent global commitment to hydrogen vehicles, products and infrastructure.

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Riversimple founder Hugo Spowers said: “Worldwide, developments are happening at breakneck speed – from improvement in creating hydrogen from renewables, to big business investment in infrastructure, to serious government pledges for green transport schemes. I think this has really cemented hydrogen as a mainstream, viable option “

The news comes after journalist and broadcaster Chris Evans became the first journalist to put the car through its paces.

Green car

The Rasa hydrogen fuel cell car is claimed to be the greenest car on the road for ordinary road use, emitting only water. It is the culmination of 15 years of research and development by a team that includes ex-F1 and aerospace engineers and the former FIAT design chief, and was launched last spring.

It has a range of 300 miles, refills in a few minutes and is powered by a hydrogen fuel cell as well as energy recaptured from braking.

(Image: Riversimple)

Analysis of Riversimple’s investors shows a geographically diverse spread of crowdfunders. Support has come from all corners of the UK, with a significant common thread – one in three of all investors (81 out of 250 people) are engineers, reflecting hi-tech industry confidence in the business model and technology.

In the past month, Riversimple has welcomed the former head of Jaguar Land Rover’s autonomous vehicle programme, Douglas Ponsford, plus two other senior engineers to the team.

The pioneering Powys-based car manufacturer is crowdfunding to match a €2m EU grant to hand-build 20 hydrogen fuel cell cars, which will be test driven by residents in Monmouthshire. This follows a £2m grant awarded by the Welsh government awarded in 2015.

'Fun to drive'

A combined investment in hydrogen products and infrastructure of €10bn was announced by the Hydrogen Council (formed of Shell, Toyota and other companies) at the World Economic Forum in January, and industry giant Shell has just opened a new hydrogen refuelling station at Cobham with plans to install three more.

(Image: Riversimple)

Mr Spowers said: “In the past 12 months there has been a massive shift towards green transport, and investors seem particularly interested in our subscription model, which aligns profitability, longevity, quality and sustainability.

“But the secret is a desirable car. The Rasa is sporty, incredibly fun to drive, elegantly styled and has turned heads all over the world.”

As official commitment to countering climate change wanes in the US, China has underlined commitments to tackling it. Hydrogen cars are a central part of their strategy, with substantial subsidies for hydrogen vehicles being announced. Riversimple has been approached by several Chinese organisations for collaboration.

Riversimple scooped five awards in 2016, including one of the RAC Simms Medal for​ an outstanding contribution to motoring innovation. It was also a top attraction at some of the UK’s major motoring events including the London Motor Show and Goodwood’s Festival of Speed.