About the Guest(s):Hugo SpowersHugo Spowers is a pioneer in sustainable auto technology and the founder of Riversimple, a company dedicated to developing hydrogen fuel cell cars. With a background in mechanical engineering and a deep interest in environmental sustainability, he left a career in motor racing to focus on creating a new kind of vehicle that could revolutionize personal mobility. Riversimple aims to create highly efficient, eco-friendly cars through innovative design and business models, setting new standards for the automotive industry.Episode Summary:In this episode of "Shape the System," host Vincent Turner interviews Hugo Spowers, founder of Riversimple, a groundbreaking company focusing on hydrogen fuel cell cars. This enlightening conversation covers Hugo's journey from a career in motor racing to becoming a leader in sustainable transportation. They delve deep into technical and systemic issues plaguing current automotive models and explore the revolutionary changes Riversimple is bringing to the industry, starting from the business model and extending to the manufacturing process.Hugo Spowers discusses the need for a complete redesign of how cars are built and sold to make them truly sustainable. He explains the drawbacks of current vehicles, from massive CO2 emissions to the hazardous particulates released from tyres, and how the auto industry's existing business models exacerbate these issues. Riversimple, by contrast, never sells cars outright but offers them as a service package that includes fuel and maintenance, thus aligning the company's profitability with sustainability goals.Key Takeaways:Innovative Business Model: Riversimple offers cars as a service rather than selling them outright, internalizing all costs to focus on longevity and efficiency.Hydrogen Fuel Cell Technology: Hydrogen fuel cells are a highly efficient and sustainable alternative to traditional internal combustion engines and even some electric batteries.Systemic Change Over Incremental Change: Transitioning to sustainable vehicles requires a complete overhaul of current systems rather than small, iterative changes.Weight and Efficiency: Reducing the weight of vehicles dramatically improves their efficiency and reduces negative impacts, such as tyre particulate emissions and resource consumption.Collaborative Ecosystems: Building a sustainable transportation system involves aligning the interests of multiple stakeholders, including local authorities, manufacturers, and consumers.Notable Quotes:Hugo Spowers: “We will never sell a car; we'll only sell a service. That’s how we align our interests with sustainability.”Hugo Spowers: “Our cars do feel significantly different to your average modern car, very direct and engaging.”Hugo Spowers: “We save more money on the fuel for the car over the life of the car than the premium we pay for the carbon fiber.”Hugo Spowers: “There's no way to do this incrementally. It's a step change opportunity at a systems level.”Hugo Spowers: “It’s not just about improving technology; it’s about changing the business model that makes sustainability profitable.”Resources:Riversimple Website"Natural Capitalism" by Paul Hawken and Amory LovinsDame La truck CEO's comments on charging electric trucksHisata's efficiency claims for their electrolyzerListen to the full episode to discover how Riversimple is poised to transform the landscape of personal mobility through innovative, sustainable design and business models. Stay tuned for more insights and stories on "Shape the System." Shape the System is an independent podcast with support from KPMG High Growth Ventures More about KPMG High Growth VenturesScale up for success. We’re here for that.We navigate founders and their teams to the services they need to reach their next milestone. From startup to scale and beyond. No matter where you are right now, we’ll get you the help you need to drive your business forward. We help founders fully realise their potential, as well as the potential of their team and their business, by connecting them to the expertise, skills and resources they need at every stage of their growth journey.Our extensive experience in partnering with evolving businesses means that we can provide you with tailored support as well as independent and practical insights. Whether you are looking to refine your strategy, establish your operations, prepare for a capital raise, expand abroad or simply comply with regulatory requirements, we are here to help.Links:Website: About (highgrowthventures.com.au)LinkedIn: https://www.linkedin.com/showcase/kpmg-enterprise-high-growth-ventures/Contacts: highgrowthventures@kpmg.com.au
