Saturday, 20 December 2014
Last updated 13 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.