Sheffield tech firm aims to double workforce after deal with €1 billion car giant
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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.
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Hide AdThe 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.
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Hide AdIt 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.