David Beckham has taken a 10% stake in Silverstone-based Lunaz Design, a company that converts classic cars to electric using a modular electric powertrain that it designs, engineers and manufactures.
The former Manchester United and England footballer is joined as an investor by the Reuben and Barclay families and Alexander Dellal.
Founding investors Navid Mirtorabi and CJ Jones are both entrepreneurs and investors in clean-tech startups.
Through his investment arm, Beckham has already backed start-ups in sectors such as eSports and athletic recovery products.
Lunaz is currently producing EV versions of classic cars including Rolls-Royce, Range Rover and Jaguar sportscars.
Following the latest injection of capital Lunaz has announced plans to grow its offering to the upcycling and electrification of industrial vehicles on a mass global scale.
The company will begin with industrial HGV vehicles including refuse trucks, of which 80 million currently exist in the UK, EU and US.
David Lorenz, Founder and CEO, Lunaz said, “The upcycling of existing passenger, industrial and commercial vehicles presents a sustainable alternative to replacing with new.
“Our approach will save fleet operators capital while dramatically reducing waste in the global drive towards de-carbonisation.
“There is evidence everywhere in the global economy that responsibility and commerciality are no longer mutually exclusive.
“This top tier investor commitment is testament to Lunaz’ path to defining the market for remanufacturing and conversion to clean-air powertrains.”
Beckham said, “Lunaz represents the very best of British ingenuity in both technology and design.
“I was drawn to the company through their work restoring some of the most beautiful classic cars through upcycling and electrification.
“David Lorenz and his team of world-class engineers are building something very special and I look forward to being part of their growth.”