Barry Shrier

Oxford, OXF (UK)
Role(s):
C-Level Executive (CEO, CFO, etc.)

Liberty Electric Cars Ltd

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Location: Oxford
Industry: Automotive
Year Founded: 2007
Number Employees: 1-10 people
Description: Worldwide, concern about global warming is growing enormously, leading Governments to enact legislation that encourages businesses and citizens to reduce their carbon footprint. This is creating substantial international commercial opportunities to sell high-performance electric cars with zero carbon emissions. BACKGROUND - THE UK CAR MARKET The automotive industry is an enormous, stable, global sector. It contributes around £9bn added value to the British economy and accounts for 1.1% of GDP. THE ELECTRIC CAR MARKET Previously, the supply of electric cars has been limited to low performance, small ‘city cars’. There are no zero-emission electric cars on the market to satisfy the family or luxury sectors. However, businesses like Tesla Motors (launched in 2008) have a sports car – already on the road - that out-performs a Porsche 911, proving the high-performance capabilities of EV’s. COMPANY DESCRIPTION Liberty Electric Cars is a new clean technology company established to provide the direct replacement of polluting piston engines with an all-electric, zero emission proprietary solution in the most popular high performance, luxury vehicles, starting with the ‘Range Rover Vogue’. Liberty exploits a number of significant commercial and technical advantages: • Leverage global Brand equity – the car looks the same and performs better. • Leverage decades of engineering refinement – the car’s engineering remains the same. • Modular solution –easily adapted to fit most 4x4s • Leveraging $Billions already spent on production factories – using the latest models. • Time to market - significantly reduced over new design. • Routes to market – already established and easily accessed. Consumers want cleaner technology cars. As a result, Liberty Electric Cars already has a £1.2M order (in writing) from a London-based business, even though Liberty does not yet have a prototype on the road. BUSINESS MODEL The model is focused on the design, marketing, and sales of electric passenger vehicles (globally famous brands) retrofitted by Liberty. Revenues are generated from the sales of cars both on a wholesale basis to car dealerships, and direct via in-house sales teams. Pre-launch Year 1 Year 2 Year 3 Year 4 Orders (units 0 207 (Phone # removed)Order Value (£M) £0 £16.6 £30.8 £53.0 £73.7 EBIT (£M) -£1 £0.1 £0.3 £5.0 £9.1 Industry standard valuation (£M) na £0.8 £2.34 £39 £71.1 MANAGEMENT TEAM The Liberty Electric Cars team are passionate, experienced, successful business professionals committed to addressing global warming via the design, marketing, and profitable sales of zero-emission electric cars Barry Shrier – founder and CEO. Technology entrepreneur with expertise in international start-ups, fundraising & investor relations, team building, public relations / corporate affairs / communications. Former Vice President – Deutsche Bank mobile payment venture Paybox. Ian Hobday – Chairman. Director with international experience, a track record of growing businesses and delivering profit improvement. Formerly a group director of BASF. Paul Lilley – Finance Director Experienced entrepreneur and senior director. Raised £10M for own venture The Grill Group, Group FD – The Noble Organisation. Petra Beitl – Marketing Director. International experience up to Head of Retail and Marketing for Arch and BASF Roger Knight – Sales Director Formerly Chief Executive, Marshall Motor Holdings (turnover £450m). John Holden - Chief Engineer Recognised as one of the industry’s leading Electric Vehicle engineers. Has lead teams converting numerous different vehicles to electric propulsion Stewart McKee – Communications. Global PR Director, PVH Ltd and MG Rover – internal, external, brand and corporate. Advisor to CEO/board on media and stakeholder issues. IP - Intellectual Property, Patents, further entry barriers. A robust programme is in place creating and protecting intellectual property via Patents, Copyright, and trademark protection arrangements. • Patents: – 3 UK Patents Pending: Application GB0900475.5, GB0900596.8, and GB0900628.9. – 3 UK Patents in application process. Novel energy storage and Powertrain technology. – 3 additional IP development programmes • Trademark: Liberty brand - world’s first zero-emission 4x4’s. • Copyright: formally asserted on all proprietary software development, sales and marketing materials. • Exclusivity: raising entry barriers to competition – on-going research - via its Oxford University advisors - into the most innovative electric components to secure exclusive deals with the leaders in energy storage, electric motors and regenerative braking. FUNDRAISING OVERVIEW Prototype round – capital to build 2 prototypes. 1. Raising £2.5M: £1M then £1.5M. 2. Valuation - £6.31M Pre-money. 3. Use of Funds –build 2 prototypes and provide working capital. Government funding Liberty has established and made public announcements about its partnership with the UK Government, via the agency ONE. Over £2.5M of support already agreed. COMPETITION – unique segmentation. Liberty has a substantial marketing advantage over other electric car businesses; its flagship launch vehicle - based on the iconic, sought-after Range Rover - is the only large, comfortable, prestigious electric car on the market.