Turning the tide on climate change with UK acquisitions
An innovative US company backed by Bill Gates, Jeff Bezos and Robert Downey Jr. has launched a new transport division in the UK following the acquisition of two electric vehicle businesses.
California-based Turntide Technologies has acquired Hyperdrive Innovation and BorgWarner, both based in Tyne and Wear.
Turntide is considered a global leader in efforts to decarbonise the major industries contributing to climate change.
The company will now invest £100m in North East England to establish Turntide Transport – a new division focused on modernising intelligent motor systems throughout the commercial transportation industry.
Transport currently accounts for 24% of global CO2 emissions, and its carbon footprint is only expected to grow in the years to come.
By combining its patented Smart Motor System with the newly acquired electric vehicle technology, Turntide is hoping to help solve the global transportation problem by improving efficiency and driving down energy use and waste.
Ryan Morris, CEO and Chairman of Turntide, said: “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.
“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.”
Backed by the Amazon Climate Pledge Fund, 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.
The technology has the potential to smooth the global path to 100% renewable energy.
Heading up Turntide Transport, the company’s new UK operation, is former BorgWarner boss Matt Boyle.
He said: “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.”
Business and Energy Secretary, Rt. Hon. Kwasi Kwarteng MP, added: “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 is the California-based sustainable technology company behind a smart motor system that could revolutionise energy efficiency and consumption
- Hyperdrive Innovation and Borg Warner have been acquired by Turntide as part of a pivot to the transportation sector
- For more inspiration around overseas investment and international success, head over to the Northern Powerhouse Export Awards website: https://www.northernexportawards.co.uk/