Danish EV project receives project support

EV project

ECOmove has been granted DKK 4 million by the Danish Business Innovation Fund.

The Danish company ECOmove ApS, which has developed the new innovative electric car QBEAK, has just been granted a project support of nearly DKK 4 million (€ 536 000) by the Danish Business Innovation Fund. The grant has been given to ECOmove due to the QBEAK’s great market potential.

Export potential

“A Danish developed EV with export potential to all European markets”. That is how the QBEAK was described in relation to the project support from the Danish Business Innovation Fund. Behind the Danish EV production company are the investors, the Energi Horsens Fund and Østjysk Innovation.

The grant from the Danish Business Innovation Fund will help provide a fast introduction to the market, just as it will increase the chances of an early commercial success.

QBEAK ambitions

The idea of the QBEAK car is to re-think the structure of an electric car and to make the best possible use of the electrical engines with the purpose of satisfying the car owner. In that way, the ambition with the development of the QBEAK is not just to reduce CO2 emissions, but also to develop the most economic, flexible and easy-driven EV on the market.

“As electric car developers, we find ourselves in a close competition situation, now and in the future, but the QBEAK is in a niche of its own due to a high utility value combined with a modest size, a low price and an unconventional design. And with the support from the Danish Business Innovation Fund, we have gained the opportunity to faster reach even further in the development process”, says Mogens Løkke, CEO of ECOmove ApS.

The project costs approaches DKK 8.7 million (€ 1.170.000) of which the Danish Business Innovation Fund grants an amount of nearly DKK 4 million. The expected effect of the project is a creation of 190 jobs and an increased turnover at about DKK 171 million after five years.

The electric car for professional users

The grant from the Danish Business Innovation Fund will be spent on an EU type approval and on carrying out a project in which ECOmove’s QBEAK will be tested by around 30 people.

The purpose of the Danish Business Innovation Fund is to create growth, employment and export. In relation to that, the committee of the Danish Business Innovation Fund has chosen to support ECOmove because the QBEAK electric car is a project which supports the goals of the Fund, as they see a great market potential in the QBEAK.

And this market potential has already been put to the test. Horsens and Hedensted municipalities have already signed a declaration of intent on eight cars. ECOmove ApS has also received 25 reservations from private individuals and companies. Furthermore, a contract with a large Scandinavian distribution company has been signed.

ECOmove ApS has existed since 2009, and Energi Horsens as well as Østjysk Innovation have also invested a number of millions in the project of developing the QBEAK.

If you should have further questions, please contact:
Mogens Løkke, CEO of ECOmove ApS, tlf. 53 61 02 40, mogens@ecomove.dk
Ane Søby Eskildsen, communications manager at Energi Horsens Fonden, 41329834, ase@enho.dk
Carina Ohm, the Danish Business Innovation Fund, 35466687, coh@ebst.dk