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UBCO Investment Update

Investment Update

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UBCO’s public offer ticks over $2 million.

UBCO are excited to announce that their current capital raise with Snowball Effect, has recently ticked over the $2 million mark, thanks to over 140 investors.

UBCO has partnered with Snowball Effect to raise a total of $2.5 million for the next stage of their development. The offer went live on March 20th and they have now ticked over the $2 million mark thanks to the support of over 140 investors.

Since their last capital raise in early 2017, UBCO has established a US-based office in Oregon, launched their road legal 2×2, and grown revenue to $3m (last 12 months).

UBCO will use the fresh equity capital being raised to fund new market expansion, launching into Europe in 2019, as well as supporting sales growth and product development.

“This is an incredibly exciting time for UBCO,” says UBCO CEO and Managing Director, Timothy Allan.

“We’ve been seeing growth in all our markets, and are looking forward to launching into the EU. The 2×2 has previously been displayed at the National Ploughing Championships in Ireland and there is now a fleet of off-road 2×2’s available to hire in the EU thanks to Electric Wheels Hire. So we are already gaining traction, and can’t wait for our official launch into the market later this year.”

"We are very thankful for the support we are receiving through our Snowball listing, and are excited to see where it takes us."

As for the success UBCO are seeing with their capital round, Timothy says, “We are very thankful for the support we are receiving through our Snowball listing, and are excited to see where it takes us.”

Simeon Burnett, Snowball Effect’s CEO & Co-founder, has been coordinating the public listing alongside UBCO and is pleased with the results.

“UBCO has received excellent interest and investment from experienced investors – they’ve been impressed with the progress that UBCO has been able to make to date, particularly in the US market, and clearly see the potential of the product globally as the EV market evolves.”

UBCO’s public offer is open until the 20th of April, with a max target of $2.5 million, so there is still time to invest if you want to get behind this kiwi innovation.

Invest in UBCO

Welcome Robin Fiore

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New Appointment Puts UBCO on the Road to US Growth

New Zealand-born startup UBCO, creators of the original 2×2 Electric Utility Bike, have appointed ex-Honda sales executive Robin Fiore to help lead their push into the US market. Read More

The Domino’s Effect

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UBCO Tests its Performance in the Urban Jungle.

The UBCO 2×2 Electric Utility Vehicle was originally developed to be a surefooted EV replacement for the 2-stroke farm bike, but thanks to Domino’s Pizza in New Zealand, it is being put through its paces in a very different environment.

Domino’s has purchased three UBCO 2×2 vehicles for a trial to see if they meet the performance requirements to be part of their delivery bike fleet, navigating the congested and sometimes chaotic terrain of the Auckland, Taupo and Queenstown CBDs.

“Ontime delivery is critical to the Domino’s brand and we’re excited to see if UBCO can deliver,” says Domino’s NZ General Manager Cameron Toomey – “so far our delivery team are loving the bikes and they’ve exceeded our expectations,” he said.

Toomey says that he was attracted to the UBCO 2×2 after seeing an article about them in an inflight magazine and thought they ticked the boxes for Domino’s.

“We liked that it was a created by a New Zealand company and the bike was quiet, environmentally friendly and offered increased safety for our drivers.

“Safety is the number one factor for us at Domino’s – being more of a motorbike than a scooter, with two-wheel drive plus a low centre of gravity, the UBCO 2×2 has more power and greatly increased stability for our drivers.

“Plus, many of our deliveries are made at night and we need to be respectful of our neighbours, so the UBCO being ‘whisper quiet’ is a definite plus for us,” he said.

In terms of reliability Toomey says that the UBCO 2x2s has proven themselves to be very reliable as well as cheap to run in the first two months of the trial. He plans to buy more to expand the trial in the short term.

“I think that UBCO definitely has a place in our fleet and we’re just assessing how big a place that will be.”

Meanwhile UBCO is also currently in trials with two large national delivery fleets in New Zealand.

“We’re very excited to get the feedback from these trials and are more than confident they’ll pass with flying colours,” UBCO CEO Timothy Allan says.

“Our product range supports a wide range of applications and we are passionate about providing a complete solution to all our customers, from individual users to Fleet Managers,” he said.

The UBCO 2×2 brings a number of distinct advantages to the delivery sector: coming pre-built with accessory lugs for panniers and storage boxes; they’re incredibly sure-footed with a motor in both wheels, no clutch, drivetrain, emissions, or noise; and they’re digitally connected to monitor progress and route, with services delivered through the UBCO API interface.

They also have an impressive 120km max range on a single charge, and with an easy battery swap can cope with the multiple destinations required. Domino’s are also keeping an additional battery at each site, extending the range in case of high workload.

And the 2×2’s designation as a moped, means that it can be driven on a standard car license, with no requirement for a special motorcycle license.

“The UBCO 2×2 is uniquely capable for use as a delivery vehicle. It’s incredibly efficient to run, strong and reliable,” says Allan.

“They were designed to give the kiwi number-8-wire warrior the perfect platform to perform any job around the farm, but those same attributes are giving this bike an advantage in the CBD as well,” he said.

UBCO has also partnered with Snowball Effect to raise capital for the next stage of company development, focused on existing shareholders and a small group of potential new wholesale investors. The offer is now open and continues until the end of February.

Since their last capital raise in early 2017, UBCO has established an Oregon (US) based office, launched their road legal 2×2, and grown revenue to $3m (last 12 months).

The company will use the fresh equity capital being raised to fund new market expansion, launching in Europe in 2019, as well as supporting sales growth and product development.

“This is an incredibly exciting time for UBCO,” Allan said.

“And we’re hoping that we can add the domino effect to the snowball effect in the very near future,” he said.

Ubco takes Wellington Gold

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Ubco is proud to announce that we have been awarded a Wellington Gold Award in the Discovering Gold category, celebrating recent R&D projects. The Wellington Gold Awards celebrate the excellence and enterprise of business in the Wellington Region, and it is an honour to be held to such a high standard alongside other stellar businesses. Read More

NZ HERALD: Electric bike maker starts first order

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Bay of Plenty-based electric off-road bike maker Ubco has begun assembling, testing and shipping its first production models to meet pre-order and dealer demand in New Zealand and Australia.

The award-winning startup, which was co-founded by Whakatane-based Antony Clyde and his partner Daryl Neal in Wellington, is also seeking $1.5 million to $2.5 million in second stage funding from the Bay’s early stage funding group Enterprise Angels. Read More

IDEALOG: Eco-friendly e-bike to be unleashed on Kiwi farms—and elsewhere

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The rural-friendly e-bike 2×2 to be released by Christmas. Not only is the bike hardy and suitable, but it’s also economical.

A New Zealand-made electric farm bike, which can travel 100km on 60 cents-worth of power, as well as charge a smart phone, iPad or power tools, should be on the market by Christmas, says its developer.

Electric bike specialist Anthony Clyde, one of the designers of the Ubco utility bike, says electric bikes are ideal for farm work as they are quiet (so they don’t disturb livestock), light (so they can be lifted over fences), strong (it can carry loads up to 200kg) and don’t have drive chains or clutches to cause maintenance problems. Read More

NZ HERALD: Sparks fly over new Kiwi electric farm bike

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The Ubco 2×2 electric farm bike will be in production by Christmas with initial marketing aimed at New Zealand and Australia. Strong international interest means the company will bring forward plans to sell into North America, said Timothy Allan, managing director of Tauranga’s Locus Research.

Locus is a co-investor in Ubco and works closely with the bike’s developers Anthony Clyde, based near Whakatane, and Daryl Neal from Wellington. Read More

THE SHED MAGAZINE: Free Wheeling

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New Zealand has been slow to adopt the electric bike revolution that is sweeping the globe but a couple of keen Kiwis (and a Canadian) are using their ingenuity to create e-bikes with a difference.

Anthony Clyde has had a varied background that included an unfinished degree in product development, importing semi-precious jewellery from India and writing a script for a short film that was selected for the Sundance Film Festival. In 2005 he had a dream about making electric bikes and has been focused on them ever since. Read More