Torotrak gets boost from government-funded low-carbon initiative

Shares in Torotrak jumped by 5.16 per cent shortly after the company announced a joint manufacturing initiative with Tata Steel, Mira and Productiv.

Shares in Torotrak jumped by 5.16 per cent shortly after the company announced a joint manufacturing initiative with Tata Steel, Mira and Productiv.

The UK government will be funding the project, which Torotrak will be entering into alongside key players in the low-carbon technology market. The participants will work on products aimed at the automotive supply chain, with the goal of reducing investment costs for green solutions.

"This agreement, and the recently announced integration of a high-precision manufacturing facility at our technical centre, willhelp support ourlicensees in bringing Torotrak technologies to market," said Chief Executive Officer (CEO) Jeremy Deering.

Beneficial regulatory pressures"The increased capability will accelerate development timescales, and help focus programmes from the start on getting to market rapidly," added the CEO.

Deering noted how legislative targets, due in 2015 and 2020, mean manufacturers are particularly interested in innovative carbon emissions reduction technology right now: "[This] means getting hardware and demonstrable results out quickly."

Torotrak's so-called V-change technology will be key to this project, where further industry partners on the project include Jaguar Land Rover, Schaeffler and the Manufacturing Technology Centre.The V-Change technology aids in the CO2 reduction in engines by allowing single or dual stage variable boost.

Torotrak also benefits from gaining access high-precision component manufacturing facilities through this project, which is in line with the group's stated goal of initiating its own medium-volume manufacturing capabilities.

JF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021