Hyperdrive Innovation, Sunderland-based developer and manufacturer of lithium-ion battery technology for electric vehicles and energy storage systems celebrates its sixth birthday this month since its founding in 2012.
During that time, the business has grown substantially with further plans to build on the demand for Hyperdrive’s world-leading battery technology by adding staff, building more partnerships with global companies and expanding the number of applications that Hyperdrive’s technology is used in. With government legislation changing, a growing number of companies around the world are focusing on the electrification of their vehicles opening up more growth opportunities.
This expansion has meant:
- Turnover for the current financial year to 31 March 2018 is expected to be 24 times higher than Hyperdrive’s first full year of operation, and two-and-a-half times higher than last year.
- Employee numbers have increased from 6 to 43 with an additional six new roles to be filled in the coming months in areas including engineering and product development.
Over the last six years, Hyperdrive has made significant investments into their Intellectual Property portfolio and library of patents, further developing their product range and making significant improvements in battery pack manufacture.
The business has raised millions of pounds in funding from leading investors including venture capital firms Hamilton Capital Partners and Rivers Capital alongside R&D grant funding from InnovateUK and the Advanced Propulsion Centre (APC). Hyperdrive has also received numerous awards in recognition for its technology including the Automotive Award at Insider Media’s Made in the North East Awards; the Innovation Award at the North East Automotive Alliance Awards 2018; and was ranked number 13 in the first ever Northern Tech 100 league table in 2017 and 2018. This year sees Hyperdrive shortlisted for the Innovation of the Year Award and the Manufacturing Technology of the Year Award at the prestigious National Technology Awards which will take place in London this May.
Stephen Irish, Founder and Commercial Managing Director, said: “The last six years have demonstrated there is a growing global market for our battery technology. OEMs are now looking to electrify their products, meaning a monumental step-change is underway for not only the automotive, but also the off-highway, construction and agricultural industries. With this increasing demand for electric alternatives, and our global supply agreement with Nissan, Hyperdrive are well positioned to be at the very forefront of this revolution.”