Tempus: "Worth a punt"22 Apr 2015 14:21
Everything must change so that everything can stay the same, someone once said. In a nutshell, that seems to be exactly the case with Torotrak at the moment. The company, which was spun out of British Technology Group back in 1998, had the aim of adapting a process originally conceived for cotton mills for use in the automotive market. Such hopes took the share price to the stratospheric level of 545p in September 2000. Then, Toyota and GM abandoned plans to licence its technology and the shares duly dove lower.
Fourteen years on, clients have taken up its technology for use in lawnmovers. The firm also recently purchased Flybrid, adding its kinetic energy recovery system to its armoury. This system is now being tested by Lotus and a bus company that wants to commercialise it. Torotrak has also won substantial funding from the Technology Strategy Board for a move into excavators. Down by a third over the last year the shares are worth a punt, even if only on the prospect of landing a top car-maker, writes The Times's Tempus.