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Turntide Technologies Extends Its Smart Motor System To Transportation Sector With Acquisition Of Electric Vehicle Technology

SUNNYVALE, CALIFORNIA., and GATESHEAD, England, June 8, 2021 / PRNewswire / – 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 dedicated to modernizing smarter Motor systems throughout the commercial sector focused transportation industry.

Turntide enters transportation with the acquisition of two UK companies Hyperdrive Innovation Ltd. (“Hyperdrive”), and the Engineering Technical Center business (“Gateshead Business”) of BorgWarner Gateshead Limited (“BorgWarner”). Turntide Transport will be operating in. take up Gateshead, Englandwhich marks the beginning of a multi-year investment in the region. Financial terms of the deals were not disclosed.

Despite initiatives to reduce fossil fuel burning, our global carbon footprint continues to grow. The transport industry does 24 percent of global CO2 emissions from direct fuel consumption. As more and more fossil fuel passenger cars are replaced by electric vehicles, the carbon footprint of freight transport – which includes all transport services by land (rail, truck and pipelines), sea (cargo ships) and air (cargo aircraft) – will only continue to grow. Between 2010 and 2050global CO2 emissions from freight transport are expected to quadruple.

By combining the Smart Motor System with the electric vehicle technology it has acquired, Turntide joins efforts to solve our global emissions problem by improving efficiency and reducing energy consumption and waste. The Turntide Transport business will initially decarbonize electromechanical systems in some of the more challenging markets – including commercial and industrial vehicles, rail, shipping, and aerospace.

“Our world is at a turning point. We urgently need to reduce our CO2 emissions, but they continue to rise despite the increasing electrification of cars,” said Ryan Morris, Turntides Chairman and CEO. “Since Turntide has been successful in reducing energy use and waste in the built environment, it is critical that we translate that success into transportation to address the growing threat of climate change. We look forward to leveraging the experience and innovation these two companies have to offer as we enter the transportation market. ”

UK Secretary of Commerce and Energy Rt. Schatz. Kwasi Kwarteng MP said, “Reducing CO2 emissions from transport is key to combating climate change and I applaud this groundbreaking investment by Turntide in our seas and airplanes in the skies.”

Turntide’s Platform for Sustainable Operations ™ combines the Smart Motor System with automation and cloud insights to dramatically improve the efficiency of building control, electric vehicles and industrial processes – increase profits and pave the global path to 100 percent renewable energy. Turntide has so far achieved this within the built environment – above all by retrofitting the electric motors in HVAC and agriculture with intelligent, efficiency-optimized systems.

The acquisition of Hyperdrive Innovation, one of the UK’s leading independent battery pack manufacturers, will enable Turntide to add energy storage to 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 developing power electronics for a wide variety of vehicles for more than five decades – with a focus on engine controls and other devices that determine the motion of industrial electrical applications.

By integrating the technology of both acquired companies, Turntide Transport will be a one-stop provider of powertrain platforms – including 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 is not coming quickly enough. With success in the built environment, Turntide will make it possible to simplify the path to sustainable transportation by integrating the technology of these two companies into the Smart Motor System. “said Matt Boyle, OBE, managing director of Turntide Transport. “Gateshead has made a name for itself around the world as a growing center for digital business. We look forward to doing Gateshead a center for our innovation in sustainable transport, a step that reflects our confidence in the city. ”

Turntide has already begun to change climate change in the built environment – bringing customers, including companies like Amazon, JLL, BMW and Five Guys, an average of 64 percent energy savings. Turntide Transport starts production today with global customers including Aston Martin, Hitachi rail, JCB and the MAN division of Volkswagen.

Learn more about Turntide Technologies and its platform for sustainable operations at turntide.com.

About Hyperdrive Innovation Ltd
Hyperdrive Innovation was founded in 2012 and develops and manufactures high-performance energy storage systems for driving off-highway and industrial trucks as well as stationary and portable energy storage systems. Customers include JCB, Hitachi rail, Cargotec and the world’s largest online grocer. Hyperdrive is highly recognized for its growth and innovation with rankings in the Sunday Times Tech Track 100 and the FT 1000: Europe Fastest growing companies and awards including the Queen’s Award for Enterprise: Innovation and Insider Media’s Made, the UK Automotive Award and the shortlist for Innovation of the Year at the National Technology Awards. For more information on Hyperdrive innovation, see hyperdriveinnovation.com

About Turntide
Turntide Technologies develops breakthrough sustainability technologies that reduce energy consumption and operating costs in buildings, agriculture and electric transportation, paving the way for 100% renewable energy and corporate sustainability. The Turntide Smart Motor System is part of an open platform for Sustainable Operation ™ powered by a patented Turntide Optimal Efficiency Motor ™ with intelligent automation and cloud connectivity. The Turntide platform promotes sustainability goals, saves money and improves sustainability across the company. For more information, visit https://turntide.com/ or follow the company Youtube, Twitter, and LinkedIn.

MEDIA CONTACT
Jocelyn Johnson, Turntide, [email protected], 917-406-5886
Caroline Beckmann, Trident DMG, [email protected], 202-440-1783
Graham Robb, Recognition PR, [email protected], 01325 363436

SOURCE Turntide Technologies