Turntide Technologies, (“Turntide”), the company responsible for the Platform for Sustainable Operations™, powered by its patented Smart Motor System™, today announced the launch of Turntide Transport, a new division of the company focused on modernizing intelligent motor systems throughout the commercial transportation industry.
Turntide is entering the transport space with the acquisition of two UK-based businesses: Hyperdrive Innovation Ltd. (“Hyperdrive”), and the engineering technical center business (“Gateshead Business”) of BorgWarner Gateshead Limited (“BorgWarner”). Turntide Transport will establish operations in Gateshead, England, marking the beginning of a multi-year £100 million investment in the region. Financial terms of the deals were not disclosed.
Despite initiatives to drive down the burning of fossil fuels, our global carbon footprint continues to expand. The transportation industry accounts for 24 percent of global CO2 emissions from direct fuel consumption. As more fossil fuel-powered passenger cars are replaced by electric vehicles, the carbon footprint of freight transportation – which includes all shipping services by land (railways, trucks, and pipelines), sea (cargo vessels), and air (cargo planes) – only continues to grow. Between 2010 and 2050, global CO2 emissions from freight transport are expected to increase fourfold.
By combining the Smart Motor System with acquired electric vehicle technology, Turntide is joining the effort to help solve our global transportation problem – improving efficiency and driving down energy use and waste. The Turntide Transport division will initially target electromechanical systems in some of the more challenging markets to decarbonize – including commercial and industrial vehicles, rail, marine and aerospace.
“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,” said Ryan Morris, Turntide’s Chairman and CEO. “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. We are excited to incorporate the experience and innovation that these two businesses have to offer as we launch into the transport market with our initial reference customers.”
Turntide’s Platform for Sustainable Operations™ brings together the Smart Motor System with automation and cloud insights to dramatically improve the efficiency of building control, electric vehicles, and industrial processes – boosting bottom lines and smoothing the global path to 100 percent renewable energy. Until now, Turntide has achieved this within the built environment – primarily retrofitting the electric motors in HVAC and agriculture with intelligent, optimal efficiency systems.
The acquisition of Hyperdrive Innovation, one of the UK’s leading independent battery pack manufacturer, will allow Turntide to include energy storage in its solutions. Hyperdrive designs, develops, and manufactures modular high-performance lithium-ion battery systems for a wide range of applications.
The acquisition of the Gateshead Business includes the facilities of the Gateshead Technical Center, which under previous ownership of BorgWarner, has been designing power electronics for a wide range of vehicles for more than five decades – focusing on motor controllers and other devices that determine the motion of industrial electric applications.
By integrating technology from both entities, Turntide Transport will be a one-stop powertrain platform provider – including the battery pack, power electronics, motor, and connected intelligence – accelerating customers’ time to market in the inevitable electric future.
“The electrification of transport is inevitable, but it isn’t coming quickly enough. With success in the built environment under our belt, incorporating the technology from these two businesses with the Smart Motor System will allow Turntide to simplify the path to sustainable transport,” said Matt Boyle, OBE, Managing Director of Turntide Transport. “These acquisitions bring together two world leading capabilities in Turntide and the UK businesses. Gateshead has become well-known worldwide as a growing center for digital business. We are excited to make Gateshead a center for our innovation in sustainable transport, a move that reflects our confidence in the engineering capability and the region.”
Business and Energy Secretary Rt. Hon. Kwasi Kwarteng MP 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.
“This is also a huge boost for workers in the North-East and further evidence of how our climate change commitments are opening opportunities for economic growth, private investment, and job creation across the UK as we level up and build back greener from the pandemic.”
Ian Gilthorpe, senior partner of Square One Law, which advised Turntide on the acquisitions, said: “We’re delighted to have supported Turntide on these important acquisitions. These investments provide a significant boost to North East England’s role in the electrification of the economy, highlighting the desire of international companies to maximise on the skills and capabilities that exist in the region that can contribute to the journey to net-zero by 2050.”
Ryan Morris added: “North East England has a strong track-record of industrial and automotive innovation, which we are keen to part of with the formation of Turntide Transport. By assembling a robust, technology-led supply chain here in the North East to expand the application of our technologies into multiple transport sectors we will be able to help drive the electric revolution while supporting the creation of high quality, sustainable jobs.
“We recognise the emphasis that is being placed on attracting inward investment into the region to help level up the UK economy and we are delighted to be playing our part.”
Turntide has already begun to turn the tide on climate change in the built environment – bringing customers including companies like Amazon, JLL, BMW, and Five Guys average energy savings of 64 percent on average. Turntide Transport launches with global reference customers in production today, including Aston Martin, Hitachi Rail, JCB and Volkswagen’s MAN division.
Turntide’s mission is to make every watt of energy worthwhile to humanity. Notable investors in the company include Bill Gate’s Breakthrough Energy Ventures, Robert Downey Jr.’s FootPrint Coalition Ventures, and the Amazon Climate Pledge Fund. Learn more about Turntide Technologies and its Platform for Sustainable Operations at turntide.com.
