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Transmission firm Torotrak is set for a period of accelerated growth after clinching a trio of deals that will propel it forward on several fronts.
Earlier this year, new chief executive Jeremy Deering said the firm needed to reinvigorate its strategy to help it commercialise its technology in a faster timeframe. He has made good on his promise, with Torotrak buying a stake in flywheel hybrid innovator Flybrid Automotive, while securing a licensing deal with Allison Transmission and raising additional funding.
Deering said: “This is an exciting new phase. We are moving forward in several areas and expect the company to grow significantly.”
Most notable in terms of future strategy is a deal to acquire a 20% stake for £3 million in Flybrid Automotive, the Silverstone-based flywheel technology firm owned by engineers Jon Hilton and Doug Cross. Torotrak also has an option to acquire the remaining shares of the company before the end of the year – a deal that Deering said he had every expectation of completing.
The deal means Torotrak will be able to provide turnkey development and manufacture of complete flywheel hybrid systems for buses, trucks, passenger cars, commercial and off-highway vehicles.
Torotrak already has a long-term relationship with Flybrid Automotive, using its flywheel module in its mechanical kinetic energy recovery system (M-KERS). “We could have continued with this arms-length relationship," said Deering. "But Torotrak has taken the view that the market is ready for flywheel technology. And every month we delay is a wasted opportunity. This deal makes so much logic – it’s a clearer proposition for our customers.”
As well as allowing Torotrak to accelerate the development of its M-KERS technology, the deal gives access to what Deering believes is the most market-ready flywheel system available. “We now have the complete skill set, development resources and low-volume manufacturing expertise needed to help vehicle manufacturers introduce a technology that will allow them to significantly reduce carbon dioxide emissions for a fraction of the cost and weight of conventional electric hybrids.”
Flybrid’s carbon fibre flywheel spins at up to 60,000rpm in a near-perfect vacuum. Drive can be provided by the company’s CFT clutch-based transmission system or by Torotrak’s continuously variable transmission (CVT).
Already proven in motorsport applications such as LMP1 sportscar racing, CFT KERS can provide up to 100kW and 540kJ of storage in a system that has a full wet weight, including the electro-hydraulic control system, of less than 40kg. The technology is seen as being ideal for small, low-cost automotive hybrids, or operating with Torotrak’s CVT for higher power systems.
Flybrid’s development programme includes Volvo Cars, Wrightbus, two manufacturers of off-highway vehicles and several motorsport constructors. Evaluation programmes are ongoing with several other vehicle manufacturers across a wide range of sectors, including passenger cars. Flybrid said that if these relationships continue to progress as planned, its technology could be specified for a production vehicle by 2016.
Deering said the relationship with Flybrid would offer the potential to extend the reach of Torotrak's other technologies, particularly its high-efficiency transmissions and low-cost, variable drive pressure charging systems.
Flybrid’s John Hilton also sees synergies in technology and manufacturing. “Both technologies use high-speed rotating assemblies of precision-machined components, and the electronic and hydraulic control systems are so similar that a single control unit can be used to control either product,” he said.
In a separate development, Torotrak has concluded negotiations with its licensee Allison Transmission, under which Allison will pay £6 million for continued exclusivity to manufacture and sell Torotrak’s main drive transmissions in commercial vehicle market segments. (This exclusivity does not include Torotrak’s other commercial vehicle licensees, Tata Motors and an as yet unnamed European truck and bus manufacturer.)
Torotrak will take responsibility for core component testing and to establish a fully conformed supply into Allison programmes, helping to reduce lead times.
Deering said the move would mean greater influence and reward for Torotrak in bringing its technology to market: “This deal will see a much closer relationship between Torotrak and Allison. We wanted to break out of the passive licensing arrangement. It’s not about banking fees that go into the bottom line. It’s about proving we are really useful. We win if our technology goes into production.”
Allison has also taken 5% equity in Torotrak, raising £2.5 million.