Global firm invests in UK cleantech company
A Northumberland cleantech company has signed a multi-million pound deal with global engineering firm GKN Hybrid Power to help develop its EVO Motors system.
Avid Technology Limited designs and manufactures electrified ancillaries for the electric and hybrid vehicle market. It will take over the development, manufacture and sale of EVO Motors. The arrangement will also see Avid develop EVO technology, which delivers new variants of the motor and additional applications.
Avid’s core business is the electrification and intelligent control of engine ancillaries, thermal management systems and hybrid systems including pumps and fans that are used in many advanced electric, hybrid and low emission diesel vehicles.
The benefits for GKN and Avid’s target market mean that vehicles can use lighter, smaller and higher powered components, resulting in increased fuel efficiency and lower emissions in comparison to conventional technology.
Ryan Maughan, Avid Technology MD, said, ‘This is a fantastic opportunity for us to bring our expertise and strong technical capabilities to meet real market and environmental demands. We see huge potential utilising this technology in our key markets of heavy duty and high performance vehicles as well as some exciting new market applications we already have in development.’
Gordon Day, general manager for GKN Hybrid Power, added, ‘The EVO axial flux motor technology remains leading-edge with a growing target market. In Avid, a young and ambitious UK firm which is also focused on clean energy technology, we have a great partner to further develop the EVO Motor and bring the system into regular production to meet the increasing demand for environmentally friendly vehicles.’