Spin-out revs up hybrid market

Pictured after completing the �2.5 million funding deal are (L-R) Finance Yorkshire Investment Director Andrew Burton, Magnomatics' Business Development Manager David Latimer, Fusion IP CEO David Baynes and Magnomatics' CEO Chris Kirby.
Pictured after completing the �2.5 million funding deal are (L-R) Finance Yorkshire Investment Director Andrew Burton, Magnomatics' Business Development Manager David Latimer, Fusion IP CEO David Baynes and Magnomatics' CEO Chris Kirby.
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Technology developed in Sheffield is set to become a key component in hybrid fuel vehicles built around the globe.

The development - known as “Magsplit” – is the brainchild of Sheffield Uiversity spin-out Magnomatics and is one of the fruits of a £2.5 million funding package, provided by investors Finance Yorkshire, IP Group and Sheffield-based Fusion IP.

Hybrids are powered by a combination of a conventional car engine and electical power and currently use mechanical gears to switch between the two power sources.

With Magsplit the process is done magnetically, so there are no friction losses and no gears to wear out.

“Magsplit performs the role of two components with just one component, it’s more compact and efficient and the cost of the system is lower,” says Magnomatics chief executive, Chris Kirby.

Although a number of different green vehicle technologies are vying for dominance, Mr Kirby says most motor manufacturers agree that hybrid cars using an internal combustion engine and some sort of electric drive will dominate.

“Hybrid vehicles will be the cars in the future. A large per centage of cars on the road could be hybrid by 2030 and a big proportion of those will use Magsplit,” says Mr Kirby, whose company is already working closely with a number of manufacturers.