LONDON (Alliance News) - Fuel-efficiency vehicle technology provider Torotrak PLC on Wednesday said it has won funding from the Advanced Propulsion Centre UK Ltd, to work in a co-funded consortium on an off-highway project.
Torotrak will work in collaboration with Turner Powertrain System Ltd, which is owned by US construction machinery company Caterpillar Inc, and the University of Hertfordshire to advance the development and manufacture of a leading low-carbon drivetrain with energy storage for a range of off-highway vehicles and machines.
The total project value is GBP9.4 million, divided among the consortium members, with an anticipated GBP4.2 million in funding from the APC. Torotrak expects to receive funding of at least GBP1.2 million to develop its Flybrid energy recovery technology, which will be used in Caterpillar's machines.
The project is expected to commence in December and will take three-and-a-half years to complete. Its aim is to offer a significant reduction in fuel consumption and carbon dioxide emissions, and to enable engine downsizing across a wide range of applications.
"We are delighted that Turner Powertrain System Ltd has chosen us as a partner for this project and that the APC has again backed one of our technologies. This investment will allow us to take a further significant step into the off-highway market," Chief Executive Adam Robson said in a statement.
Shares in Torotrak were trading up 3.3% at 4.11 pence on Wednesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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