TURNTIDE TECHNOLOGIES EXTENDS ITS SMART MOTOR SYSTEM TO TRANSPORTATION SECTOR WITH ACQUISITION OF ELECTRIC VEHICLE TECHNOLOGY
The acquisition of Hyperdrive Innovation and BorgWarner Gateshead positions Turntide to accelerate existing technologies and capabilities to reduce energy use and cost for commercial transportation services.
Sunnyvale, Calif., and Gateshead, UK – June 8, 2021 — 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 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 emissions problem by 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.”
UK 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.”
Turntide’s Platform for Sustainable Operations™ brings together the Smart Motor System with automation and cloud insights to dramatically improve 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 manufacturers, 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 the 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 acquired businesses, 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. “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 city.”
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 energy savings of 64 percent on average. Turntide Transport launches with global customers in production today, including Aston Martin, Hitachi Rail, JCB and Volkswagen’s MAN division.
Learn more about Turntide Technologies and its Platform for Sustainable Operations at turntide.com.
About Hyperdrive Innovation Ltd
Founded in 2012, Hyperdrive Innovation designs and manufactures high-performance energy storage systems for powering off-highway and material-handling vehicles as well as stationary and portable energy storage systems. Customers include JCB, Hitachi Rail, Cargotec, and the world’s largest online grocery retailer. Hyperdrive is highly recognized for its growth and innovation with rankings in the Sunday Times Tech Track 100 and the FT 1000: Europe’s Fastest Growing Companies and awards including the Queen’s Award for Enterprise: Innovation and Insider Media’s Made, the UK Automotive Award, and shortlisted for Innovation of the Year at the National Technology Awards. For more on Hyperdrive Innovation, visit hyperdriveinnovation.com
Turntide Technologies develops breakthrough sustainability technologies that drive down energy consumption and operating costs in buildings, agriculture, and electric transport, creating a path to 100% renewable energy and business sustainability. The Turntide Smart Motor System is part of an open Platform for Sustainable Operations™, driven by a patented Turntide Optimal Efficiency Motor™ with intelligent automation and cloud connectivity. The Turntide Platform advances sustainability goals, saves money, and improves sustainability throughout the enterprise. For more information, visit https://turntide.com/ or follow the company on YouTube, Twitter, and LinkedIn.