Lightning Hybrids Opens U.K. Subsidiary
First Systems in the UK on the Road Now
LOVELAND, Colo., April 28, 2015 /PRNewswire/ -- Colorado-based manufacturer of hybrid systems that transform buses and trucks in urban environments into cleaner, more efficient vehicles announced the opening of its offices in the UK. Tim Sherwood, Managing Director of international business, will direct the initiative to expand the Lightning Hybrids technology with commercial and municipal customers outside the US. Lightning Hybrids' new UK office will be the hub for customer development, supply chain fulfillment and employee growth across the UK, Europe and India.
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The company's first hybrid systems in the UK were delivered and installed this month and went on the road last week in two large local fleets.
"Expansion into the UK is a key strategic goal for Lightning Hybrids because of the high prices of fuel outside North America as well as the greater emphasis on reduction of vehicle emissions to address smog concerns," says Sherwood. "Our product will help fleets by providing 20 to 35% better fuel efficiency and 50% or greater reduction in NOx, the primary ingredient of smog. I personally am thrilled to be here and look forward to positioning the company and our innovative product as a must-have for fleets throughout the UK and beyond."
The advance is fueled in part by an investment from UK-based Castrol innoVentures, Castrol's venture and innovation arm, as well as from Factor(E), the venture development firm affiliated with Shell Foundation and Colorado State University.
Morgan DeFoort, Factor(E)'s CEO stated, "Trucks and buses are some of the biggest and fastest growing contributors to urban carbon emissions. Lightning Hybrids has a durable technology that can be easily installed on existing or new vehicles in fleets around the world. They are well positioned to have immediate and lasting positive impact on the emissions and fuel consumption of fleets."
"Performance and innovation that respect the environment are key drivers for our company," said Jon Salkeld, Technology Director, Castrol innoVentures. "Supporting innovative automotive research and manufacturing companies like Lightning Hybrids is an important aspect of our future; nurturing the next generation of engineering that supports greater fuel efficiency and helping us define future products."
Lighting Hybrid's UK registered office is located in the Isosceles Inward Investment Incubator near London's Heathrow Airport. Lightning Hybrids is setting up a series of satellite offices and service partners to help support customers in other areas as well.
Later this week, Lightning will announce the latest results from six months of independent emissions testing that demonstrate significant reductions in harmful vehicle emissions from the company's hydraulic hybrid system for medium- and heavy-duty trucks and buses.
About Lightning Hybrids
Lightning Hybrids, with headquarters in Loveland, Colorado and offices in Detroit and London, manufactures hydraulic hybrid systems for medium- and heavy-duty fleet vehicles. The system provides emissions reductions and fuel efficiency improvements by capturing and storing braking energy, and using that energy for acceleration. The Lightning Hybrids system does not have batteries; instead, it safely and efficiently stores energy mechanically in composite hydraulic accumulators, which are a fraction of the cost and weight of batteries. The system can be installed on over 25 new vehicle models, as well as retrofitted on vehicles already in service. It is sold and serviced through a network of dealers and partners across the world.
More information: www.LightningHybrids.com
Contact:
Bonnie Trowbridge
(303) 519-4144
Email
SOURCE Lightning Hybrids
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