MP impressed with company’s potential
At the invitation of George Kieffer, Chairman of the South East LEP, John Baron MP recently joined Ali Naini and Nick Pascoe, respectively Chairman and CEO of Controlled Power Technologies, Westmayne, Laindon to look at the company’s facilities. The company has developed a portfolio of products for automotive vehicle CO2 and emission reduction as well as fuel economy through driveline electrification. It currently employs 55 staff and expects to grow further quickly
“I was very impressed with both the company’s market-leading products and its potential. The world is knocking at its door. Now the job is to ensure the finance is in place to realise this potential.”
“This is the research intensive company that we need not only in the South East, but in the UK. One product has already been spun out to a French Tier 1 automotive supplier which has opened a facility in Basildon. I am excited by the project to start low volume production of this innovative proven technology.”
“Road transport is one of the largest sources of man-made emissions. Investment in long term solutions such as electric vehicles powered by non-fossil fuel generated electricity is progressing. However until they are widely and affordably available, hybrid cars provide a transitional way forward. We have now demonstrated that our so-called “mild hybrid” technologies for making conventional cars more efficient can do the job of full hybrids but for a fraction of the cost. Car markers tell us that they want our product as soon as we can manufacture it at high volume. We are proud of the world class multi-discipline engineering team that we have built up in our UK based development centres and look forward to making further investments into the business to get our products onto the road.”
Notes to Editors
Originating from Ford Visteon, CPT is a private company founded in 2007, supported by venture capitalists (first with £15m until the sale of its electric supercharger to Valeo in 2011, and subsequently with £19 million for the development of its mild hybrid and other technologies) and is one of the 23 companies in which the Low Carbon Innovation Fund (main fund) invested under the 2007 – 2013 ERDF programme. CPT is currently looking to raise a further £5 million in order to complete its commercialisation programme.