The Exeter-based business is seeking to grow its market share in the production of components for hybrid and electric vehicles.

The investment, which has come from unnamed individuals with a background in the automotive sector, sees Jeremy Ellison join the firm’s board as finance director.

The funding will be invested in developing new products and services, in particular in recruiting skilled staff to help the business develop new lines for electric and hybrid vehicles.

It is estimated that the firm’s current 25 strong workforce will grow by 20 per cent.

Managing director Mark Roberts said: “We are delighted to have completed this deal as it sets us up to deliver our growth plan. The investment will accelerate the commercialisation of our development portfolio and our expansion into new markets, as well as allowing us to build on our success to date in the hybrid vehicle market.”

The company, which won the prize for Innovation of the Year at the recent Western Morning News Business Awards, has already developed a hybrid drive system which combines diesel and electric power to achieve its environmental objectives without impacting on the residual value of a vehicle.

During tests by CENEX – the UK’s first centre of excellence for low carbon and fuel cell technologies – the Ashwoods hybrid reduced CO2 emissions and fuel costs by between 15 and 25 per cent and, in the urban drive cycle, by as much as 33 per cent.

Ashwoods has already supplied more than 200 hybrid vans to the country’s largest commercial fleets and has a further 500 vehicle ordered for 2012.

The company has also developed a range of hybrid and electric supply chain components including electric motors, battery management systems and battery modules.

Its product development has previously been supported by the Government’s Technology Strategy Board.

John Laughlin, the TSB’s low-carbon-vehicles programme manager, said: “We have been impressed with Ashwoods’ growth over recent years and are delighted to see their hard work and innovation being rewarded.”

The funding deal saw the firm advised by private equity specialist Matt Stoate, from Foot Anstey.

Mr Ellison said: “The structuring of this deal required a private equity specialist and we were delighted to be able to work with an experienced South West based solicitor in Matt Stoate, who understands the needs of these types of transactions.”

Read the full story Ashwoods secures a £2.6m funding deal to develop low carbon products at our blog

 Ralph Hosier, SMMT judge , engineer and motoring journalist  commenting on the shortlist of six said, “The level of detail people had to go into to make their systems work was very impressive. Because they couldn’t find anything off the shelf that would actually work for them they created something that would.  The ingenuity in the detail was quite amazing”.

 The award, sponsored by GKN Driveline, was presented to JLR’s Chief Engineer, Hybrids, Peter Richings at SMMT’s Annual Dinner by Parliamentary Under-Secretary of State for Transport Parliamentary Under-Secretary of State for Transport Parliamentary Under-Secretary of State for Transport Parliamentary Under-Secretary of State for Transport Parliamentary Under-Secretary of State for Transport, Norman Baker and Rob Rickell, Global Engineering Director, GKN. 

 Commenting on the announcement, Paul Everitt, SMMT Chief Executive and chair of the five-strong judging panel said, “The awards clearly demonstrates industry’s commitment to lowering vehicle emissions and creating exciting products for demanding consumers. They champion industry innovation – promoting cutting-edge automotive engineering and design that the UK is famed for around the world.”

 Sponsor of this year’s Award, GKN Driveline’s Engineering Director, Rob Rickell said, “GKN Driveline is once again proud to sponsor the award. As a UK company, we recognise that research and development of technology will result in innovative solutions satisfying our society’s demanding and ever evolving needs. By doing this successfully, we and others will have a positive impact on the environment, the communities and the economies in which we all operate. The finalists tonight demonstrate fine examples of developments that embody that spirit.”

 On presenting the Award, Parliamentary Under-Secretary of State for Transport, Norman Baker, spoke about the importance of recognising innovation within the UK’s automotive sector, adding that a collaborative approach across the commercial, business and government sectors was essential in encouraging new technologies and products to market. 

 This year’s Award was judged by a panel of senior industry figures, including Dave Salt, Chief Engineer, GKN Driveline, Ralph Hosier, Engineer and Motoring Journalist and Jon Beasley, Group Technology Officer, GKN.

Read the full story Ashwoods takes second place to Jaguar Land Rover at SMMT’s 2011 Award for Automotive Innovation at our blog

Demonstrating an innovation that not only has a significant impact on society but a financial impact at a business level, the Ashwoods Hybrid Drive System works by taking wasted energy from braking and decelerating and storing it to be used to assist vehicles when required. Designed as an alternative over low range, high cost Electrical Vehicles, the Ashwoods Hybrid Drive System is fully commercialised and used by over 35 companies including Royal Mail, BT, Transport for London (TFL) and NHS.  Funding from the Technology Strategy Board has been instrumental for Ashwoods to develop their hybrid technologies and expand their product portfolio.

 The IET Innovation Awards recognise the most creative companies operating within a wide variety of engineering and technology disciplines, with 15 categories including asset management, telecommunications and product design. 

Upon receiving the award, Martin Kadhim, Business Development, Ashwoods Automotive said, “To even have been nominated in categories with some of these fantastic companies is a real honour. We’ve tirelessly developed our technologies for commercial purposes, not just for innovation’s sake, we’ve taken this product from innovation to commercialisation and it’s great to be recognised in this way.”

Attracting a record 420 entries from around the globe, the awards provide industry innovators a unique opportunity to demonstrate their skill and imagination as they tackle their own local, economic and social challenges.

The awards culminated in a glittering awards ceremony last night at the Intercontinental Hotel, Park Lane, London, hosted by actor, writer and presenter, Robert Llewellyn. The Awards were sponsored by ABB, Altran Praxis, D Young and Co, Lloyd’s Register, Mathworks, National Grid, NPL and Withers and Rogers.

Read the full story Hybrid technology takes three IET Innovation Awards at our blog

Read the full story The Ford Transit LPG at our blog

The Department of Health statistics suggest that particulates are responsible for several thousand advanced deaths each year and many thousands of instances of illness and reduced activity. Road transport is the largest single source for particulates and LP Gas can reduce these emissions by 90% compared to diesel.

The other pollutant highlighted by the Governments NAQS report as causing significant problems and requiring further measures to meet the set targets is Oxides of Nitrogen. As shown above, substantial reductions in Oxides of Nitrogen emissions can be made by using LP Gas.

Noise is another pollution causing increasing concern as stated in the Government’s “New Deal for Transport” White Paper. LP Gas engines are 50% quieter than diesel engines and marginally quieter than petrol engines.

Although the UK has one of the highest concentrations of vehicles per mile of road in the world it is amongst the lowest in using LP gas-powered vehicles. Other countries have recognised its environmental advantages and encouraged its development with over 4 million vehicles now in operation worldwide. In the UK we currently have only around 100,000 vehicles running on LP Gas but with suitable fiscal incentives from the Government it is forecast that this number will increase substantially over the next few years.

In Japan which has specific congestion and pollution problems, virtually all the taxis run on LP Gas and the country has the highest usage of automotive LP Gas in the world. Italy has the highest number of vehicles running on the fuel with around 1,100,000 followed by Australia with 490,000, North America with 400,000 and the Netherlands with 360,000.

The World’s known reserves of gas are far greater than those of crude oil from which petrol is derived. LPG will therefore remain readily available well into the future.

Read the full story LPG at our blog

LPG is less than half the price of diesel and provides the customer with fuel cost savings of up to 40% (plus exemption from the London congestion charge, which can equate to over £2000 per year per vehicle). More and more fleets are turning to LPG to combat carbon emissions, spiralling fuel costs and the congestion charge.

Ashwoods can supply the complete LPG vehicle solution to your business. We have terms with all the major manufacturers including Ford, Renault, Citroen and Peugeot so can offer market leading discounts. Alternatively, we recognise that you may prefer to provide your own vehicles, in this case we can supply the LPG conversion before delivering the vehicle to you with the accompanying warranty and after sales service.

Read the full story LPG Light Commercial Vehicles and LPG Vans at our blog

Ashwoods are the only company capable of supplying a range of low carbon, low cost vehicles to suit all customer requirements. Individual solutions are outlined below and we are happy to arrange a meeting to demonstrate the vehicles and provide you with information.

Ashwoods is has the backing of the UK Government and has been selected as a supplier to the Department for Transports Low Carbon Van Procurement Programme.

Our core products include low emission vans, both LPG Vans and Hybrid. All our low emission, low Co2 technologies are accompanied by full warranties and ensure manufacturer warranties remain unaffected. Below is some additional information that might be of interest to your business.

Read the full story LPG and Hybrid Solutions at our blog