US-based renewable tech firm Turntide has confirmed it is rolling into the transport sphere this morning after buying two UK-based engineering businesses.
The firm, which has patented a Smart Motor System, is launching its Turntide Transport division today, in its bid for a net zero freight and shipping industry.
After buying Sunderland-based battery pack manufacturer Hyperdrive and Gateshead’s electronics firm BorgWarner, Turntide Transport will set up its operations in Gateshead, in the northeast of the UK.
Although no figure has yet been put on the deal, it marks a strong post-Brexit multi-year investment in the UK’s renewable tech industry, particularly in the auto market.
Business and energy secretary Kwasi Kwarteng said: “Cutting carbon emissions in transport is key to tackling climate change and I welcome this game-changing investment by Turntide.
“It will drive forward the technologies we need to clean-up the cars and vans on our roads, boats on our seas and planes in the sky.”
Turntide, which has clients which range from Amazon, BMW to Five Guys, has previously focussed on energy saving within buildings.
The transport industry accounts for 24 per cent of global CO2 emissions, according to the Institute of Economic Affairs.
By combining the Smart Motor System with electric vehicle (EV) technology, Turntide has hopes to boost the UK’s EV market, which will aid the UK’s ‘green recovery’.
Turntide Transport will focus on commercial and industrial vehicles, rail, marine and aerospace, as more fossil fuel-powered cars are replaced by EVs, the carbon footprint of freight and shipping transport will likely continue to grow.
“Our world is at a tipping point. We desperately need to reduce our carbon emissions, but they continue to rise despite the accelerating electrification of passenger vehicles,” Turntide’s chairman and CEO, Ryan Morris, said.
“Because Turntide has been successful in driving down energy use and waste in the built environment, it is critical that we translate this success into transportation to help combat the growing threat of climate change.”
The deal includes the facilities of the Gateshead Technical Centre which will help Turntide produce battery packs, power electronics, motors and ‘connected intelligence’.
“The electrification of transport is inevitable, but it isn’t coming quickly enough,” managing director of Turntide Transport, Matt Boyle, warned.
“Gateshead has become well-known worldwide as a growing centre for digital business. We are excited to make Gateshead a centre for our innovation in sustainable transport, a move that reflects our confidence in the city.”