September 2010

To build and operate

cars for independent use whilst systematically pursuing

elimination of the environmental damage caused by personal transport”

“

Vision2020, Leicester, October 2010

To build and operate cars for independent use

whilst systematically pursuing the elimination of the environmental damage

caused by personal transport”

September 2010

To build and operate

cars for independent use whilst systematically pursuing

elimination of the environmental damage caused by personal transport”

“

The world is changing

Climate change

Peak oil

Business is facing a converging funnel of constraints

Energy security Regulatorypressure

Resourceavailability Sink capacity of the

environment (ability to assimilate CO )

Increasing

Decreasing

Globaldemand

for mobility

2

Ecoconsumerpressure

Population

Demand for mobility continues to grow

2

Electric vehicles

A rare consensus is emerging - a shift from mechanical to electric

platforms is inevitable

Electric vehicles are not limited to battery power

Braking

Accelerating

Cruising

Recharging

Motor

Energy flows

Why hydrogen fuel cells?

Range

Battery Electric Vehicle (BEV)

Hydrogen Fuel Cell Vehicle (HFCV)

Internal Combustion Engine (ICE)

Hydrogen fuel cell

vehicles can be much

more efficient than

battery electric

vehicles over any

reasonable range

Hydrogen decouples both refuelling infrastructure and technology

from energy sources

Energyefficiency

The transition from 100% brown to 100% green hydrogen can be

made incrementally, with no further investment

Why hydrogen fuel cells?

Range

Battery Electric Vehicle (BEV)

Hydrogen Fuel Cell Vehicle (HFCV)

Internal Combustion Engine (ICE)

Hydrogen fuel cell

vehicles can be much

more efficient than

battery electric

vehicles over any

reasonable range

Hydrogen decouples both refuelling infrastructure and technology

from energy sources

Energyefficiency

The transition from 100% brown to 100% green hydrogen can be

made incrementally, with no further investment

Inflexibility of existing industry model

38 mpg

38 mpg

1948

2008

VW Beetle

VW Beetle

The industry is very mature; both investments and value

networks are highly technology-specific

As a result, the industry can only

deliver incremental improvements;

focus on short term fixes rather

than structural flaws

September 2010

To build and operate

cars for independent use whilst systematically pursuing

elimination of the environmental damage caused by personal transport”

“

Riversimple's 7 point strategy

Supplychain

40Fires

Infrastructure

Customers

5. Distributedmanufacturing

6. Open SourceDesi

gn

2.Sa

le

ofser

vice, not cars

4. City by citystrategy

3. Saleof service upstream 1. Network

electric car

7.Sh

ared ownership

1. Network electric car

2. Sale of service, not cars

3. Sale of service upstream

4. City by city strategy

5. Distributed manufacturing

6. Open Source Design

7. Shared ownership

Network ElectricPlatform technology

Powerelectronics

Compositestructure

Ultra-capacitors

6kWfuel cell

Regenerativebraking

Electricmotor

Efficiency :

Weight : 370kg

380kmRange :

Emissions :

Power : 6kW fuel cell

31g CO /km

Well to wheel

1.

2

300mpg240 miles300mpg

240 miles

Sale of service, not cars2.

Selling miles travelled as a service,

rather than a car as a product

Profit maximised through low

running costs and longevity,

rather than high running costs

and obsolescence

Allows access to revenues

generated in secondhand

market

{Customer #1

{{#2

#3

I I I I I I I I I I I I I I I I

{{{#4

#5

Updates

#2(re-leased)

Recycle

15 years

10

5

Revenue

Sale of serviceupstream

Customer #1

I I I I I I I I I I I I I I I I

Updates

Recycle

SupplyChain

Recycle

15 years

10

5

RevenueRevenue

{

{{#2

#3 {{{#4

#5

#2

(re-leased)

3.

Aligns interests of

manufacturer and

suppliers

- a shared interest in

longevity and reliability

City by city infrastructurestrategy

4.

Illustrative map of national infrastructure

development

2012

2013

2014

Leicester

25

milesBlackpoolIpswichBristolSwanseaChesterLeedsGloucesterSheffieldNewcastleMaidstoneHullNottingham

YorkNorwichPeterboroughBournemouthMiddlesborough

Ludlow& Hereford

2012

Why hydrogen fuel cells?

Range

Battery Electric Vehicle (BEV)

Hydrogen Fuel Cell Vehicle (HFCV)

Internal Combustion Engine (ICE)

Hydrogen fuel cell

vehicles can be much

more efficient than

battery electric

vehicles over any

reasonable range

Hydrogen decouples both refuelling infrastructure and technology

from energy sources

Energyefficiency

The transition from 100% brown to 100% green hydrogen can be

made incrementally, with no further investment

September 2010

To build and operate

cars for independent use whilst systematically pursuing

elimination of the environmental damage caused by personal transport”

“

Vision2020, Leicester, October 2010

To build and operate cars for independent use

whilst systematically pursuing the elimination of the environmental damage

caused by personal transport”

Distributed smallscale manufacturing

5.

The optimal scale of production

facility will produce 3-5,000

vehicles p.a

Human scale plants will generate

high quality employment for c. 200

people

Low fixed costs gives greater

resilience in fluctuating economic

circumstances

Illustrative map of distribution of plants

Production

plant

6. Open source design

We are adopting an open intellectual property model, based on

that used in open source software

The principal source of

margin in the auto sector is

through brand value rather

than IP

Customers

Riversimple

40Fires design foundation

Delivers open source

designs

Tailored designs for local

markets

Supplychain

Othermanufacturers

Licence designs from 40Fires

Cooperate AND compete

Global design community

Contributes expertise to

40Fires designs

No constraints on

innovation

Only design criterion is

absolute excellence

Open source is not about cheap design but about delivering an absolute driver of excellence

September 2010

To build and operate

cars for independent use whilst systematically pursuing

elimination of the environmental damage caused by personal transport”

“

Vision2020, Leicester, October 2010

To build and operate cars for independent use

whilst systematically pursuing the elimination of the environmental damage

caused by personal transport”

Shared ownership7.

Success is built on the

goodwill of all stakeholders

Yet conventional structures

prioritise the interests of one

stakeholder group over all others

Fiduciary responsibility "to balance

and protect all benefit streams"

This is not altruistic, just a

better way of doing business

Regulatorypressure

Resourceavailability Sink capacity of the

environment (ability to assimilate CO )

Increasing

Decreasing

Globaldemand

for mobilityEco

consumerpressure

Population

The benefit of Riversimple’s 7 point strategy

2

Development timetable

Demonstrator vehicle launched at

Somerset House

10 prototype vehicles built

Test programme

complete

60 pilot production

vehicles built

Pilot trial of 50 vehicles run in 2

locations

Local vehicles in serial

production

Development of 4 seater

Testing and certification of 4 seater

4 seater in serial

production

2001

2003

2005

2007

2009 Riversimple LLP formed, investment

agreed with the Piëch family

Bid to Technology

Strategy Board for funding

LIFECar research project

LIFECar unveiled at

Geneva Motor Show

LIFECar project starts, grant awarded by BOC

Foundation

2017

20132015

2011

Concept development

Why hydrogen fuel cells?

Range

Battery Electric Vehicle (BEV)

Hydrogen Fuel Cell Vehicle (HFCV)

Internal Combustion Engine (ICE)

Hydrogen fuel cell

vehicles can be much

more efficient than

battery electric

vehicles over any

reasonable range

Hydrogen decouples both refuelling infrastructure and technology

from energy sources

Energyefficiency

The transition from 100% brown to 100% green hydrogen can be

made incrementally, with no further investment