Ultramo Engines shortlisted for Shell Springboard awards
Innovative, high-efficiency engine technology will reduce greenhouse gas emissions and fuel costs by a third when used for stationary power generation
Haywards Heath, East Sussex, UK, 2 February 2012 – Ultramo Engines has made the shortlist of companies vying for the prestigious 2012 Shell Springboard awards. Each year, through its Social Investment Programme, Shell donates £320,00 in eight awards of up to £40,000 to UK-based SMEs, which demonstrate commercially viable and innovative business ideas to reduce carbon emissions.
Ultramo is developing an innovative, high-efficiency engine that will reduce greenhouse gas emissions and fuel costs by a third when used for stationary power generation. The company believes that improving the efficiency of the internal combustion engine will enable global economies to better transition to more sustainable forms of energy, including de-centralised power generation and renewable technologies.
“Commercial viability is one of the key criteria for the Shell Springboard awards, and one of our aims in developing the Ultramo engine is to produce technology that doesn’t require government subsidies in order to be financially viable,” commented Bruce Balmer, Ultramo’s chief executive. “The cost savings due to the dramatically improved fuel efficiency will give a 12-month payback for megawatt Ultramo engines. We believe that our ‘viable green’ approach will help generator companies to bridge the gap to more widespread use of renewables.”
Shell will announce the award winners from 24 finalists at regional events on the 7th, 15th and 22nd of February.
About Shell Springboard
Shell Springboard is fully funded and managed by Shell. It provides a financial boost to innovative, low carbon business ideas from across the UK. Since being set up in 2005, Shell Springboard has provided awards totalling over £2 million to more than 50 companies with no strings attached. Through Shell Springboard, Shell supports small to medium sized enterprises in the UK with innovative ideas to seize the commercial opportunities presented by climate change.
For more information, visit: www.ultramo-engines.com or contact:
Chris Dace
Resonates SLM Ltd
+44 (0) 1635 898 361
Ultramo is a completely new engine design that has the potential to become the world’s most efficient engine. The new Ultramo cycle, which minimises heat loss, reduces engine running costs and CO2 emissions by a third. Early models will be best suited to large-scale power generation.
Nick Coates, Chrissi Wilkins and Bruce Balmer founded Ultramo in 2010. Since founding the company, they have worked with partners to validate the thermodynamic principles behind the Ultramo cycle. They have raised more than £175,000 in grants from SEEDA, Finance South East, the Carbon Trust and the TSB to fund research and development. The project has earned the support of PERA who have worked closely with Ultramo to build a EU FP7 £1.2M grant consortium with Ricardo and a number of other European parties.
Ultramo’s management team includes Richard D Atkins CEng.FI MechE MSAE MIVehE and Dr Nick Barter. Mr Atkins has over 40 years of experience in the internal combustion engine industry and has worked with many of the world’s leading engine development teams. Dr Barter’s engineering and managerial career spans nearly 50 years, including the last eight years as non-executive director of Torotrak. Here he has helped to transfer innovative technology from the drawing board to commercial success.
www.ultramo-engines.com
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