Basque Startup BeGas Raises €18 Million to Accelerate Development of Sustainable Industrial Engines
BeGas, a Basque startup specialising in the development of bioautogas-powered engines for industrial vehicles, has successfully secured €18 million in a recent investment round. This substantial funding aims to accelerate the development and certification of new engines, positioning BeGas at the forefront of the ecological transition in heavy urban transport.
The investment round attracted a consortium of investors, including new participants such as Stellum Growth and the American truck manufacturer Nexio Power Inc. Existing shareholders, including Repsol Energy Ventures and CDTI, also contributed to the funding. This diverse group of investors underscores the confidence in BeGas's business model and its potential to lead the shift towards sustainable mobility solutions.
The primary objective of this funding is to expedite the development and homologation of two new bioautogas engines, each with six and nine-litre capacities, scheduled for release in 2025. These engines are designed to expand BeGas's portfolio of sustainable solutions for heavy urban transport vehicles, specifically targeting the 12 to 26-tonne segment. By offering these new engine options, BeGas aims to provide industrial vehicle manufacturers with viable alternatives to traditional diesel engines, thereby contributing to the reduction of greenhouse gas emissions in the transport sector.
In addition to engine development, BeGas plans to strengthen its supply chain by collaborating with strategic partners such as ZF Group and Bosch Engineering Group. These partnerships are expected to ensure the highest quality standards in the products and solutions offered by BeGas, enhancing the reliability and performance of their bioautogas-powered engines.
To meet the growing demand for environmentally friendly solutions in the European industrial vehicle market, BeGas intends to scale up production at its facility in the Polígono Abra Industrial in Ortuella, Bizkaia. This expansion will enable the company to increase its manufacturing capacity, ensuring timely delivery of engines to customers across Europe.
BeGas's commitment to sustainability is further demonstrated by its participation in the IAA Transportation 2024, a leading event in the automotive sector held in Hannover. During this event, BeGas showcased its 100% biopropane-powered engines, including the BeGas EVO 3, BeGas B430 LG, and the upcoming BeGas B660 LG, scheduled for release in the first quarter of 2025. This participation highlights BeGas's dedication to innovation and its role in promoting sustainable mobility solutions on an international scale.
The strategic initiatives outlined in BeGas's Plan Estratégico 2025-2028 reflect the company's ambition to lead the ecological transition of heavy urban transport. The company aims to triple its business volume and increase its workforce by 50% by 2028, demonstrating a strong commitment to growth and sustainability.
In summary, BeGas's successful €18 million investment round marks a significant milestone in the company's journey towards revolutionising the industrial vehicle engine market with bioautogas-powered solutions. The funding will support the development of new engines, strengthen supply chain partnerships, and expand production capacity, all contributing to BeGas's mission to lead the ecological transition in heavy urban transport.
