Tribosonics hopes to add 32 staff by late 2022 after teaming up with Novares, which makes plastic car parts and has a €1 billion turnover.
The two firms have been working on ultrasonic sensors in the powertrain to improve engine safety for more than a year.
The joint development agreement could be followed by investment from Novares Venture Capital. It comes after Tribosonics received a £1.1m investment in September in a ‘do or die’ bid to grow and land huge industrial customers.
Chief executive Glenn Fletcher said it was a significant step in their ‘growth journey’ which had already seen them secure major contracts with big firms.
He added: “We are extremely proud of our innovative and dynamic ream; we will undoubtedly expand our award-winning apprenticeship programme and our cutting-edge technology and commercialisation expertise will bring further highly skilled STEM related jobs and additional commercially-orientated jobs to Sheffield.”
Tribosonics’ sensors measure friction, wear and lubrication in machines - from a wind turbine to an F1 engine - while they are running. Friction accounts for a huge 23 per cent of global energy use.
It was founded by chief technology officer Dr Phil Harper. The company is based at Edmund Road Business Centre.
In March, Christina King, chief commercial officer, won £50,000 in the Innovate UK Women in Innovation awards which recognise and celebrate women pursuing breakthrough new business ideas.