Project Obsolete

University of Limerick

By Joe Leddy
€ 160500

Invested

75

Investors

Campaign

Ended on 04-04-2021

Description:

Hi, my name is Joe Leddy & my Entry is Project Obsolete, which addresses the future of green transportation. The business idea is to create electric engines that can be used in converting a vehicle that has a fossil-fuelled internal combustion engine. It’s as simple as replacing the internal combustion engine in the car with an electric engine designed to slot into the existing space originally designed. The problem Project Obsolete addresses is the future of fossil fuel-run cars. Carbon tax in Ireland is set to see a near 75% increase in the next 10 years, from €26 per Ton in 2020 to a target of €100 per ton. This will lead to an increase in running costs and road tax, people unable to afford fossil fuel cars and left with no alternative options, scrapped fossil fuel cars which are only 80% recyclable on top of, e.g. 1 million scrapped in the UK in 2020, a transportation problem and an increased demand for electric propelled transport even though the cost of electric cars are significantly more than a fossil fuel car which isn’t a viable option for some. Project obsolete then eliminates high running costs, affordable electric transport options, and reducing the number of cars that could be potentially scrapped. The Project creates a Unique solution that others in the market can’t address. As a direct competitor – TransitionOne in France runs a service to convert your car, but they will only do 15 models of brand-new cars due to the complexity. Electric GT systems in America are another company that can convert but will only cater for specific vintage cars, with some conversions costing upwards of $50,000. Indirect Competition would be electric cars made from the factory, e.g. Tesla or Toyota EV’s, but these cars are specifically designed for an electric engine. Project Obsolete creates an electric engine conversion that converts a car to electric with a simple mechanic installation, for any variety of cars, with an affordable price tag, and the option to choose an engine that suits their vehicle, from a city car to a luxury Mercedes. The target customer is anyone with a fossil fuel run car (which is over 1.3 Billion globally). Along with scrap cars that could be reclaimed back to former glory, which in it itself could create a new automobile market! Project obsolete also has fantastic export potential. From creating Irish made products to ship globally, creating factory extensions around the world, hiring countless engineers and fabricators, sales management, global logistics, Project Obsolete could become one of Ireland’s largest Global Exporters and become a superpower in the future of green transportation. I’m really excited with the value and potential this project brings, and with my family industries in Engineering, fabrication, Cars and with myself in Technology Education, I know I can deliver this Project to Realisation by incorporating everything I’ve learned and everything I’m going to learn along the way.