By Marcus Leach
The Low Carbon Innovation Fund, based at the University of East Anglia (UEA), has invested £400,000 in new automotive technologies designed to improve fuel efficiency and reduce carbon emissions.
Controlled Power Technologies (CPT) has developed a range of products to help car makers meet tightening legislation on CO2 emissions by making the car significantly more fuel efficient, through mild electric hybridisation without the need to redesign the car or the car engine.
Laura Chellis, LCIF project co-ordinator, said: “CPT is a local company with products that can have a global impact on reducing carbon emissions. We are proud to have such leading edge low carbon technology companies in our region and are delighted that we can support CPT’s commercialisation plans.”
CPT chief executive Nick Pascoe said: “Although we are now working on applications around the world, our products and technologies have all been developed by our experienced and growing team of engineers in the East of England and we are proud of our roots here. LCIF joins the list of our major shareholders at an exciting stage as we work to bring our more developed products to market. We welcome and appreciate LCIF’s support and its recognition of the fruits of our work since the launch of CPT in 2008.”
Launched in 2010, the Low Carbon Innovation Fund is part of a £20 million venture capital investment programme, including an £8m contribution from the European Regional Development Fund. The fund, which is based at the University of East Anglia, invests in SMEs across the East of England — a region which aspires to become a leading, world class low carbon economy.