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Motor Racing: A climate change solution?

Automotive Cleantech - LAUNCH ISSUE First published in Automotive Cleantech - March 2013

Speaking at Cleantech Investor’s EV Club, Lord Paul Drayson, outlined the potential for Formula E to drive EV adoption and technology development.

Lord Paul Drayson believes that the car industry should use motor racing to promote electric vehicles (EVs) – and that it has been a mistake on the part of the industry to have avoided focusing on motor sport before now. However, he believes that Formula E is set to change that. His racing team, Drayson Racing, was the first team to commit to the FIA Formula E series and his company, Drayson Racing Technologies, is scientific advisor to Formula E. Drayson anticipates a real difference in the take-up of EVs after the first Formula E championship takes place in 2014.

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Water Tech Investor Blind Date revealed:

The Investor Blind Date at the Water Tech Invest conference session organised by Isle Utilities and Cleantech Investor at Water Tech Invest on 14 February 2013 was revealed to be:

Rob Wylie - WHEB Partners

www.whebpartners.com

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Water Tech Invest Utility Blind Date revealed

The Utility Blind Date at the Water Tech Invest conference session organised by Isle Utilities and Cleantech Investor at Water Tech Invest on 14 February 2013 was revealed to be:

Steve Kaye of Anglian Water

www.anglianwater.co.uk


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Investing in Fuel Cells: The Resurgence!

The Investing in Fuel Cells conference, organised by Nomura Code and Cleantech Investor, in partnership with the Technology Strategy Board, took place in London on 27 September 2012.  

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photos by David Spink

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John-Marc Bunce of Nomura Code, delivering the opening remarks at the Investing in Fuel Cells conference, addressed questions from what he described as “a cynical investor... or two”, who had asked: “Why organise a conference on fuel cells?” (given the sector’s difficult track record). His response was: 

A number of companies have competitive commercial products and are rapidly growing commercial revenues; a number of companies are approaching the tipping point for profitability; and the attributes of fuel cells will enable them to displace heat engines and batteries in many different applications.

Citing Pike Research, Jean-Marc noted that global revenues for fuel cells have already reached US$780 million and that the sector offers the potential for growth of US$50 billion in the next five years.

The keynote address at the conference was delivered by Richard Kemp-Harper of the UK’s Technology Strategy Board, who described the work of the organisation in promoting innovation in fuel cells and hydrogen in the UK. He described how the Technology Strategy Board programmes on fuel cells and hydrogen straddle the organisation’s energy and transport programmes.

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Cenex LCV 2012 - Event Review

by Richard Jordan

The 2012 Low Carbon Vehicle event, hosted by Cenex for the fifth consecutive year, made a welcome return to Millbrook Proving Ground on 5 and 6 September.  This year’s show demonstrated the latest offerings from the vehicle manufacturers, charging solution providers and engineering consultancies, alongside some of the latest electric vehicle innovations and developments.  

The now familiar Nissan Leaf, Vauxhall Ampera, Smart (Mercedes) Electric and plug-in Toyota Prius were all present and offering test drives around the various challenging tracks at Millbrook.  The OEMs continue to refine and develop their vehicles, and in particular the third generation Smart boasts peak power of 55kW (compared with 30kW for the first generation) and an 87 mile range (up from 68 miles).  

Mia Electric

A popular newcomer to Cenex was Mia Electric, a Franco-German company producing small, urban cars and vans, which was represented by its new UK distributor.  They hope to sell 1,000 of the funky vehicles prior to the end of 2012, following the formal launch on 1 October.  The vehicles benefit from a central driving position, meaning it has not been necessary to change the layout for use on UK roads, although some changes were made for the purposes of UK homologation.  David Carter, UK Fleet Manager, commented that the 20 test vehicles in the UK had received a good response from potential customers, in particular from fleet operators, who were interested in the Mia van for urban use.  The van will cost £16,995 (including £8,000 plug-in van grant) and will come with a five-year warranty and five years’ roadside assistance.  While significantly cheaper than offerings from the majority of the major manufacturers, the Mia will face stiff competition from Renault’s Kangoo ZE, which is priced at £12,912 (after grant) although a £60 per month battery rental charge applies.  

Ecospin Raptor

Gracing Cenex again, following its launch in 2010, was Ecospin, the UK company behind the futuristic Raptor.  Raptor is the brainchild of Paul Loomes, previously a designer for the likes of Ford, VW, Porsche and Jaguar.  Paul dreamt up the idea whilst on holiday, and on his return set to work fashioning the clay model for the vehicle, which would subsequently be manufactured at the company’s Leicester workshop.  

With the Raptor, Ecospin aims to take market share from Segway and other manufacturers of electric personal vehicles suitable for patrolling streets, university campuses and airports.  At approximately £6,000, the Raptor is slightly more expensive than the Segway, but has significantly greater range, almost double the top speed, offers a more stable platform from which to work and is road legal.  Reportedly, it will travel 12,000 miles on £100 worth of electricity.  A quick spin revealed that the throttle works much like a scooter or moped, and there is a brake on the front wheel, alongside regenerative braking through the back wheels.  

Since marketing started in April 2012, Ecospin has sold 62 Raptors, and hopes to hit 200 by the end of the year, with deliveries set to start from the end of September.  Demonstrators have been sent to the US and interest has come from the UK, the US and the Far East.  

 

ABB Scoops EV Investor Club Award

 

The inaugural EV Investor Club Award for the Deal of the Year went to ABB for the aquisition of Epyon BV. ABB acquired Epyon, the developer of direct current (DC) fast-charging stations and network charger software, based in Rijswijk, the Netherlands, in 2011. The Epyon software reduces charging time to 15 minutes and enables charging to be tailored to different start conditions, power requirements and charging times.

The deal was awarded for its significance in marking a major commitment to fast-charging technology on the part of a large multinational group: it dovetails with ABB’s existing technology and has opened up the potential for Epyon’s technology to be rolled out on a broad scale and for the integration with smart grid technologies. The award was received by Martin Hale of ABB at a ceremony during the Investing in Future Transport conference in August 2012.

The award was for the most significant financial transaction (e.g. venture capital investment, IPO or an M&A transaction) in the electric vehicle sector involving companies active in the manufacture of products or the provision of services. Companies were required to have displayed an active commitment to the development of the sector through the deal in question.

The shortlist chosen by the organisers, Cleantech Investor, K&L Gates and Beaufort International, comprised the deals which were considered to have been most influential in moving the EV industry forward. Voting took place through social media channels, via Twitter and Facebook, as well as in person at an EV Investor Club breakfast event. Other deals nominated for the award included:

Robert Bosch Venture Capital and WHEB Partners investment in Torqeedo in March 2012 (a Series C Venture Capital funding round valued at €5.6 million). Torqeedo has developed technology for electric outboard motors for boats.

Polaris Industries et al investment in Brammo in July 2012, a Series C investment round valued at $13 million (the first tranche of a US$45 million round). Brammo is a developer of electric vehicle (EV) technology and manufacturer of two-wheel EVs.

GSR Ventures et al investment in Protean Electric, in July 2012. Participants in the US$84 million investment round to fund production of Protean’s electric drive technology in a new manufacturing facility In China, alongside GSR Ventures, included New Times Group, Oak Investment Partners and the city of Liyang, Jiangsu Province, China

Imperial Innovations, Invesco Perpetual et al investment in Nexeon, a £40 million Series C investment round in 2011. Nexeon has developed rechargeable lithium-ion battery technology.

GKN strategic investment in EVO Electric in 2011 through the acquisition of a 25.1% stake in the company. GKN Driveline and EVO Electric entered into a joint venture, GKN EVO eDrive Systems, which GKN financed with funding of £5 million in debt and equity.

GE, USB et al investment in Better Place in November 2011, a Series C equity fundraising valued at US$200 million. GE and UBS AG were amongst a number of new investors in Better Place and joined existing shareholders, including Israel Corp., HSBC Group, Morgan Stanley Investment Management, VantagePoint Capital Partners, Ofer Group and Maniv Energy Capital. Better Place has developed a battery exchange business model.

Qualcomm acquisition of HaloIPT in November 2011. Like the ABB/Epyon deal, this was also an acquisition in the charging infrastructure sector. Qualcomm acquired New Zealand-based HaloIPT, which has developed inductive power transfer (IPT) or wireless charging technology. The HaloIPT technology enables batteries in EVs fitted with an integrated receiver pad to be charged automatically while the car is parked or when being driven over transmitter pads buried in the ground.

 
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