Founded in 2007, KASI Technologies has been in operations researching and developing NESS through a combination of careful cashflow management, angel investors and bootstrapping.
Up until 2021, we succesfully raised €3,4 million from private equity investments and grants. In 2022 we recieved a €2 million grant funding from EUROPEAN INNOVATION COUNCIL AND SMES EXECUTIVE AGENCY (EISMEA) with the goal of taking our product NESS to market. The investment agreement with EU also includes an option for a €6 million equity investment from the European Innovation Fund.
We are currently fully funded for our trajectory. That being said, we always remain open to additional scaleup funding and owners who see the potential of a €17bn SAM. Smart money is preferred.
There’s a large gap in the automotive market created by lagging EV technology, uneven emission regulations, and market incentives for fuel reduction through 2022 – 2050
- 243 million cars currently drive on European roads
- 0.2 % of them are BEVs
- The annual renewal rate is 5 % (new car sales)
- 3 % of new sales in 2021 were EVs
- At this rate, Europes car fleet will never be electrified through new car sales
We believe retrofitting and upfitting existing cars to hybrid electric is vital to faster reaching a true climate impact and EU 2030 climate targets. Combined with HVO and electrofuels, this is a more scalable solution building on existing infrastructure, than batterising Europes entire mass of vehicles.
Selling NESS to fleet owners and using existing workshops service points and resellers for retrofitting, our long term aim is to see NESS installed in cars both at the production stage and as a retorfit service. The system can be modified to work with any combustion engine regardless of size, and delivers fuel reductions of 20 %. We also see great potential in several other sectors, including agricultural, marine and mining.
Please get in contact with our chairman Viktor Löfgren directly on viktor@kasitech.eu if there is an interest in investing €2’000’000 or more in KASI Technologies.
