AT SWANSEA CROWN COURT this week (Feb 9), Andrew Ling, 39, from Cysgod-Y-Coed, Cwmann, Lampeter, has been acquitted of allegations that he stole nearly £150,000 from Perpetual V2G Systems Ltd, a pioneering company he founded.

Mr. Ling faced charges of siphoning off £148,517.78 between March 30, 2016, and June 12, 2018, but steadfastly denied any wrongdoing.

Perpetual V2G Systems Ltd is at the forefront of developing cutting-edge technology for 3.5t home delivery vehicles, which traditionally had to keep their engines running during deliveries to maintain refrigeration systems. This innovation allows for the engine to be turned off, significantly saving fuel costs and reducing carbon emissions. The company’s achievements had already positioned it for international recognition, with plans to pitch its patented carbon reduction systems to major stakeholders in the United States, signaling a massive opportunity for expansion and investment.

The prosecution, led by Jim Davis, contended that Ling illicitly transferred funds from the company’s current account to its reserves and subsequently into his personal account. Despite these accusations, Ling maintained his innocence throughout the investigation and trial, asserting he only took what was rightfully owed to him.

After deliberating for approximately three hours and 40 minutes, the jury reached a unanimous decision, finding Ling not guilty of theft by an employee. Recorder Owen-Casey, addressing Ling, declared, “The jury has found you not guilty. You are now free to go,” marking the end of a week-long trial.

The case shed light on the financial strains and personal sacrifices Ling endured while establishing Perpetual V2G Systems Ltd in 2013, including taking out personal loans to finance the company. Evidence presented in court highlighted Ling’s relentless dedication to his venture, working tirelessly to secure a patent in 2015 and launching the company into operation. Despite not drawing a salary until 2016, Ling believed the company owed him around £195,000 in total for his contributions.

Defence counsel Dyfed Thomas argued that Ling’s invoicing against the company for work he had completed was deemed lawful by an accountant, emphasising the transparency of the company’s accountancy software. The defence also countered claims that Ling was motivated by grievances over his lack of recognition within the company, suggesting instead that disputes over investment terms and subsequent boardroom conflicts led to his leaving the firm, and the dilution of his shares.

The trial revealed underlying tensions within the company, particularly concerning the terms of a second round of investment from Finance Wales, which precipitated a heated exchange between Ling and other board members. This confrontation ultimately led to scrutiny of Ling’s director’s loan account and his removal from the company he had worked so hard to build, a company on the brink of international expansion and innovation in the green technology sector.