Cambridge, UK – 14 June 2022: IPM Group (‘IPM’), the next generation asset manager specialising in InfraTech, today announces that it has invested in Hilo EV (‘Hilo’), the micromobility company reimagining personal transport.
Hilo is poised to become the global standard bearer for micromobility and IPM’s investment will support Hilo as it brings its first product, the Hilo e-scooter, to market. Hilo’s advanced electric scooter boasts a variety of innovative features including an oversize front wheel that dramatically improves stability and control and AI computer-vision to alert the rider of impending dangers. Powered by advanced battery technology and boasting a unique Halo illumination system to alert pedestrians and other road users of its presence, the Hilo e-scooter provides a safe and sustainable personal transport.
IPM meanwhile, with its focus on investment in InfraTech, will benefit from Dr Palmer’s in-depth experience and knowledge of mobility technology. Alongside his role as Chair of Hilo, Dr Palmer is also Chair of innovative battery company, InoBat Auto, and CEO of next generation bus and commercial vehicle company, Switch Mobility. Previously, Dr Palmer served as CEO of Aston Martin and COO of Nissan and is credited with pioneering ground-breaking technologies, including leading the development of the electric car, the Nissan LEAF. His pre-eminent position is now steering Hilo to become the ultimate ‘last mile’ solution and will support IPM in creating long-term value for its clients.
Marian Bocek, Co-Founder and Managing Partner of IPM, said: “IPM is focused on investing in companies that have a positive impact on society and we have found such a company in Hilo. The electric mobility sector is advancing pace, making travel cleaner and more sustainable and we are incredibly pleased to play a role in this as well as establish our first prominent investment in the UK.
“The appointment of Dr Palmer, someone who has played an integral role in the mobility sector for over thirty years, will support IPM as we continue to support the world around us while creating a positive economic impact in the long-term for our clients.”
Dr Andy Palmer, Chairman of Hilo, said: “At Hilo, we’re completely rethinking the notion of micro mobility – starting with the e-scooter. We have the ability to change the way we move, by providing part of the infrastructure to allow people and goods to move around in both a safe and clean way. IPM’s investment will support this ambition and their confidence in Hilo is testament to our talented team of designers and engineers who have worked tirelessly to develop the Hilo e-scooter, our first product to market.
“I am also delighted to have joined to IPM’s C2C development platform. IPM’s investments are directed at projects that benefit the planet and I look forward to supporting IPM in this endeavor.”
Robin Harris, CEO of Hilo, said: “IPMs investment in Hilo validates our progressive vision to redefine safety in the micromobility sector; creating class-defining products that leverage the latest AI road-scanning technology, and perimeter safety lighting.
We’re excited to be part of the IPM portfolio and look forward to developing strategic partnerships with the likes of InoBat, who’s market-leading battery technology will power the Hilo product roadmap.”