Vivarail Ltd

The intellectual property, rolling stock and equipment of a collapsed train company pursuing the development of a “Fast Charge” technology have been purchased, allowing battery train trials and project development to resume.

Vivarail Ltd was formed in 2013 with the original purpose to convert retired London Underground train carriages for use on the wider British rail system. Its primary technical innovation was the conversion of traditional diesel-powered train stock to battery power.

Following its formation, the company identified that the time required to charge battery-powered trains was a significant barrier to the decarbonisation of rail operations globally. As a result, the company developed its so-called “Fast Charge Product” – a fast-charge solution considered capable of charging a battery-powered train within 10 minutes. The company’s directors expected the Fast Charge Product to provide a market-leading, propriety green solution for the rail industry.

The development of the Fast Charge Product consumed a significant portion of a capital investment provided by Railroad Development Corporation (RDC), the company’s primary financial backer and its largest shareholder.

In October 2022, RDC refused to provide further funding to the company, and a new source of funding could not be located. Helen Dale, Jonathan Roden and Andrew Charters of Grant Thornton were appointed Joint Administrators on 23 November 2022.

In their Proposals dated 23 January 2023, the Joint Administrators stated that they had accepted offers from two preferred bidders for the company’s tangible assets and IP. Sale agreements had been drafted at that time, but neither sale had completed.

Now, British train operating company Great Western Railway has acquired the IP, rolling stock and equipment of the company, including its Fast Charge technology, and has offered employment to nine former Vivarail employees to support the trials and development. The deal is expected to help the launch of battery-driven trains on the rail network in the UK.

The Joint Administrators have been assisted by Freeths. Their Proposals can be found HERE.