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The world's first purpose-built professional all-terrain passenger Vehicle

Periodic Reporting for period 1 - ISAR (The world's first purpose-built professional all-terrain passenger Vehicle)

Reporting period: 2017-08-01 to 2017-11-30

Currently, passenger vehicles used for extreme conditions like mountain / glaciers rescue or adventure tourism, need extreme modification, for 46” diameter and larger tyres. Existing vehicles are highly modified vans and SUVs, with typical modification cost of hundreds of thousands of euros, and very high maintenance costs. Also, speed and maneuverability in rough terrain is limited, a critical factor for Emergency and Rescue especially. Road safety is severely compromised. A big market limitation is that the necessary modifications make such vehicles non-road-legal outside Iceland and Antarctica.
ÍSAR is the world’s first high-performance passenger vehicle purpose-built for 46” diameter and larger tyres, yet is fully EU road vehicle regulation compliant. Being co-designed and co-developed with Iceland’s adventure tour operators and the Icelandic Association for Search and Rescue, ÍSAR is purpose-made for end users’ needs, thus offering a completely new solution in performance, comfort, weight, energy consumption, cost and image. A major goal of the project is to reduce/eliminate fossil fuel use.
For the last 4 months, we have prepared an Execution Plan for the final development, analysing costs, technical and commercial risks, planning resources, identifying and studying our target markets and preparing financial projections. We have performed a Freedom-to-Operate analysis, which has shown that potentially there is no possible conflict with intellectual property rights of third parties.
From the TRL6 mule we presented at Phase 1, we are finishing the build of the confirmation prototype which will be internally tested from December 2017. This vehicle will be lent to different tourism operators and Rescue associations for validation in real environment
Both Adventure Tourism and Emergency Response & Rescue markets summed up in the region of €6.8 Trillion in 2016 with forecasts to grow at a CAGR of 46% for the Adventure Tourism and 5.2% for the Emergency Response & Rescue during the period 2016 – 2021, ÍSAR will change the world rules for these scenarios.
Based on our financial projections, the project will generate a turnover of €6.29M and a cumulative profit of €3.14M with a ROI of 0.27 (ROI of 1.93 if EU financed) by the third year of commercialization, and creating 4 jobs linked to production, assembly, distributors, maintenance and marketing & sales team. For the full 6 years period the values would be€19.45M turnover (cumulated €55.58M) ROI 6.9 and 11 jobs created.

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