The grant of £250,000 ($375,000) was awarded to assist the Company in the acceleration of the availability of its new Integra product. Integra is a product specifically designed for use in Hybrid vehicles to improve fuel efficiency and reduce the load on the internal combustion engine.
The grant is payable quarterly in arrears and will defray part of the engineering cost associated with the acceleration of the product’s development up to April 1, 2011.
Tech/Ops Sevcon, Inc. is a world leader in the design, manufacture and marketing of microprocessor based controls for zero emission electric cars.
The controls are used to vary the speed and movement of vehicles, to integrate specialized functions, and to optimize the energy consumption of the vehicles’ power source.
Sevcon supplies customers throughout the world from its operations in the United Kingdom, the USA, France, and the Far East, and through an international dealer network. The Company’s customers are manufacturers of on and off road vehicles including cars, trucks, buses, motorcycles, fork lift trucks, aerial lifts, mining vehicles, airport tractors, sweepers, and other electrically powered vehicles.