Enso Tyres Ltd seeks to revolutionise the tyre industry, by producing sustainable and range-extending tyres for electric vehicles. Current tyres produce tyre dust through friction with the road causing wear and tear. This tyre dust is deemed by some environmental monitors to be 6x the particulate matter emitted through exhaust, is potentially carcinogenic. Current tyre production produces a significant amount of material waste at production, as well as a major waste disposal issue at end-of-life.
Enso Tyres Ltd seeks to disrupt the existing tyre market by introducing new materials and processes within the production of electric vehicle tyres, alongside a new subscription model whereby a user effectively leases their car tyres. The Company also intends to offer an outright purchase option to ensure that all markets and customer groups are serviced.
The senior executive team is comprised of experienced tyre specialists and business entrepreneurs bringing together a unique and complimentary skillset, with the intention to develop a new tyre technology designed purely for electric vehicles.
|Product||Technology Growth EIS|
|Aim of funding||Growth|
|HMRC Advanced Assurance received||Yes|
|Envisaged investor exit||4-5 years|
|Targeted return||In excess of 4x capital invested|