A North East company specialising in the design and manufacture of power electronics and electrical machines has received a major investment for a growing global market.
Turbo Power Systems (TPS), which employs over 100 people in Gateshead and London, supplies drives, power electronic systems, high performance motors and generators to the energy, industrial, transport and defence sectors.
The company has received the investment – totalling £6.5m – from TAO Sustainable Power Solutions, a subsidiary of a Brazilian energy company, giving TAO a major stake in TPS and providing working capital for future products and collaborations.
The move comes at an exciting time for TPS when it has just reached an agreement with North American firm Bombardier to be the supplier of auxiliary power conversion systems for its new, flagship Innova people mover train. It has also signed an understanding with a major Japanese firm to supply power electronics products in Europe.
David Hancill, general manager at TPS Gateshead said: “This investment is excellent news for TPS and will help to underpin future growth and the development of new technology. Crucially, it will help to boost our profile and opportunities around the world – particularly in the US and Canada where around 50 per cent of our business lies.
“There are very few companies worldwide that can match what we offer. Supplying high performance electric motors and power conversion systems gives us a real advantage over our competitors. This investment and the work we have contracted with Bombardier and our Japanese partner are real reasons for optimism.”
TPS already boasts an impressive list of clients including The Boeing Company, Lotus Engineering and American giant McQuay. Gateshead is the nerve centre of TPS’s power electronics division and the company is based in a state-of-the art plant at Team Valley – having received support from Gateshead Council to relocate there three years ago. Current products range from power conversion systems for charging mobile phones and computers on trains to the drivers’ cab air conditioning system on the London Underground.
In addition to new projects in North America and Europe, it is now looking to towards the renewable sector and the development of applications that will connect power from renewable sources of energy to the national grid or de-centralised micro-grids.
Thanks to support from Tyne and Wear Development Company and a grant from One North East, TPS will explore the potential of connecting energy from photo voltaic cells to charge electric vehicles. The project could eventually see PV cells installed in, for example, office or supermarket car parks to enable customers to plug-in and charge battery powered vehicles as they wait.
Tony Lakin, head of R&D at TPS, said: “The electric vehicle market is a rapidly growing sector. This is an exciting project that will explore the potential for charging electric vehicles from a renewable energy source and we have the expertise and technology to achieve this. It’s great we’re doing it in the North East which has real potential to be a leader and pioneer in the electric and battery powered vehicles sector. Being based in the North East means we have access to hugely talented workforce from our universities.
“We first entered the renewable energy market 15 years ago but there wasn’t the same market need in the UK as there is now.”
TPS receives ongoing business support from Tyne and Wear Development Company through the regional strategic account management programme – a bespoke scheme designed to help growing companies.
Alma Harrison from Tyne and Wear Development Company said: “TPS is a great example of an ambitious company that is developing innovative market leading technology from its base here in the North East. Their impressive facilities cannot fail to impress existing and potential customers and reflect not only the capabilities of its talented team, but also the quality of the innovative product range.”