VANCOUVER, BC, January 30, 2013 – Test-rides and demos transformed four skeptical Dragons into fans of electric bicycles, after Vancouver entrepreneur Michael DeVisser appeared on Dragons’ Den to pitch OHM Cycles: his line of premium pedal-assist electric bikes, in a segment that aired on January 20th. Though the Dragons did not end up investing in the e-bike company, Jim Treliving described the bikes as “the best way to get around Vancouver I’ve ever seen,” and Arlene Dickinson personally contacted DeVisser after the show aired to inquire about obtaining an OHM bike for herself.
Jim Treliving describes OHM Electric Bikes as, ” the best way to get around Vancouver I’ve ever seen.”
At the start of DeVisser’s pitch, the Dragons each expressed the typical attitude most individuals have toward e-bikes: “It’s called cheating,”said Arlene, and Bruce Croxon’s initial reaction (which was cut out) was that the bike would not allow him to get exercise. As Croxon and Kevin O’Leary took the bike for a joy ride around the studio, the Dragons asked and learned about the bike’s benefits, which include keeping up with stronger riders, going up steep hills, and cutting down commuting time.
“It’s easy to discover the benefits of OHM bikes once you try them, said DeVisser,” who is the CEO of OHM Cycles. “We are not only targeting bike retailers and wholesale distributors, but also security, resort, rental, and delivery services, because there is so much untapped potential for e-bikes in North America. The national exposure from being on Dragons’ Den has been amazing in netting us inquiries from these kinds of businesses, and the experience was definitely worth it.”
Michael DeVisser demonstrates OHM Electric Bikes on Dragons’ Den
The segment, which was cut down to six minutes from 40 minutes of footage, left out DeVisser’s plans for distribution, which included placing OHM kiosks within existing stores such as Eddie Bauer to make the bikes more available for test-rides to the company’s target audiences.
DeVisser came to the show asking for $1 million for 30% of his company. Offered $1 million for 50%, Michael could not come to a deal, after discovering that the Dragon could not offer resources to help with the bikes’ distribution.
Says DeVisser: “Making our bikes more available through various distribution channels across Canada and the United States is a big focus for us at the moment. We know we have a solid product: We pour hours into research and working with the best companies to make sure that OHM bikes remain top of the line each year, and we have built our reputation on the quality of our products. Now we just need to make OHMs accessible and available, so customers can discover and try out the bikes on the spot and learn what premium electric bikes are all about.”
About OHM Cycles
OHM Cycles Ltd. is a premium electric bike manufacturer based in Vancouver, BC, Canada, with a mission is to be the leader in high-performance electric bicycles for commuters and recreational cyclists. OHM electric bikes feature a custom-designed lightweight frame, reinforced for extra strength and stability, as well as multiple frame sizes for best fit, to handle all-terrain riding and commuting. The company was awarded the British Columbia Creative Achievement Award in 2009 for its custom battery enclosure: a center-mounted battery pack that allows for the best weight distribution, while also being easy to install and remove, and convenient to take inside to recharge. Other quality components include an integrated LED lighting system, puncture proof tires, and hydraulic disc brakes for added safety. OHM Cycles proudly supports going green with electric bikes – an eco-friendly solution to the world’s transportation and environmental changes. Find out more at http://ohmcycles.com
About Dragons Den
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