Wednesday, 23 July 2014
Last updated 10 hours ago
Feb 11 2009 | 6:51am ET
TTP, an independent technology development company, has helped the UK company Axon raise GBP 2.5 million ($3.6 million) from “an international green investor” and the UK government for the development of its low-emissions Axon hatchback.
The first round of investment was raised through TTP’s Carbon Trust incubator service.
Axon is developing a 100mpg city car using existing engine technology and carbon fiber material advances. The company says its cars will use current low-emission gas engines and advanced transmission units and can therefore be in production years before hybrid or alternative-energy vehicles are available in large volumes.
Axon’s next step will be taking the working prototype to full production and further developing the carbon-fiber chassis, which is key to the car’s low-cost and lightweight construction.
The UK government’s Technology Strategy Board has kicked in over GBP 2 million ($2.9 million) of Axon’s current funding round, specifically for the development of a plug-in hybrid version of the city car. Axon Automotive expects to raise a further GBP 5 million ($7.2 million) later this year as the car moves toward initial production.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…