Hyperdrive Innovation achieves 300% growth to break through into high tech vehicle electronics market
Electric power train specialist Hyperdrive Innovation has recorded 300% year on year sales growth as a result of new product developments and securing national R&D contracts.
With headquarters in Northumberland the company, set up four years ago to supply the low carbon automotive sector, is expanding its capabilities to work with a range of other vehicles and electrically powered equipment for use both onshore and offshore.
Hyperdrive Innovation has participated in R&D programmes worth over £750,000 and launched six new products to date. Their electronics can be integrated into vehicle designs or retrofitted to vehicles to deliver enhanced performance, optimal energy efficiency and reduced carbon emissions.
Stephen Irish, Manager Director of Hyperdrive Innovation, said: “We have demonstrated a pedigree and built up a national reputation in vehicle electronics over the last four years by impressing much larger and more established automotive companies. Passenger and industrial vehicles remain our primary market, however, the technologies we have developed have opened up further opportunities in the marine and defence sectors which we are very excited about.”
Hyperdrive Innovation has benefited from Newcastle Science City’s business support services to help them to develop their market strategy and rebrand the company with a new website and targeted marketing campaign. They are working with Horizonworks Marketing, one of Science City’s four approved providers of marketing services as part of the business support programme.
Mike Addison, Business Support Manager at Newcastle Science City says: ‘Our business support service is very easy to access, provides a fast decision on the level of financial support available and also does all the heavy lifting to ensure the work is completed on time and to a high standard. It has been a pleasure to provide this support to Hyperdrive Innovation and see the company go on to develop and grow as a result.”
Stephen Irish adds: “We have been extremely pleased with the business support provided by Newcastle Science City. This work has helped inform business development plans and has provided a timely marketing push to help continue to drive the business forward.”
Rivers Capital Partners manage the Finace for Business £7.5 million North East Angel Fund and are investors in Hyperdrive Innovation.
Jonathan Gold, a Director at Rivers Capital said: “ Stephen and his team at Hyperdrive came to us with a clear vision of how they could contribute to the growing electric vehicle market with their own innovative ideas and expertise. Over the last few years they have realised that vision and are turning it into a market leading growth business, and we are very happy to be a key investment partner and managers of the North East Angel Fund”.
Hyperdrive Innovation’s recent projects include the development of an unmanned marine research vessel, a wading truck adaption for the Ministry of Defence, and an electric conversion of an Enfield 8000 for a novel engineering project being undertaken by automotive journalist and TV presenter on Fifth Gear, Johnny Smith. They are currently delivering high profile R&D programmes for the Technology Strategy Board, Niche Vehicle Network and EU FP7.
Hyperdrive Innovation will be appearing at the Future Powertrain Conference in February being held at the National Motorcycle Museum in Solihull.View all News relating to: Business Support,