Kerr’s Tyres & Auto, one of Northern Ireland’s leading suppliers of tyres and automotive services, has secured a half-million pound loan from Ulster Bank to support it through the coronavirus crisis. It has been delivered through the Coronavirus Business Interruption Loan Scheme (CBILS).
The Motor Traders Association of Queensland (MTAQ) has become an investor in innovative Australian tyre recycler, Green Distillation Technologies Corporation (GDTC), which has discovered a process that turns end-of-life tyres into high value oil, carbon and steel.
Less than a year after Tirescanner.com was founded, at the start of November, the business reported that it is live in Florida. This means Tirescanner already covers 1200 postcodes codes, matching consumers with products from a range of hundreds of thousands of tyres and – crucially – connecting them with “the best local retailers”. At the moment this works on a next day install, but the plan is to take this to a same-day level. And more states are said to be coming fast. We’re used to pretty rapid progress when it comes to dotcom start-ups, but such fast growth is more understandable when you consider that Tirescanner is driven by Blackcircles.com founder Mike Welch. Tyres & Accessories recently caught up with Welch in order to find out how the company plans to continue and sustain this growth.
Professor Richard Thompson OBE, who leads the International Marine Research Unit at the University of Plymouth, has questioned claims made by the Marine Conservation Society relating the role played by tyre wear in marine microplastic pollution.
Banbury-headquartered First Line Ltd, one of the UK’s leading suppliers of premium quality automotive components to the vehicle aftermarket, has secured £20 million in funding from Santander Corporate & Commercial. The funding will help the firm expand its exports and capitalise on growth opportunities in overseas markets, it states.
Prometeon Tyre Group has arranged an inaugural 600 million euros of credit facilities consisting of 450 million euros of term facility and a 150 million euros of revolving facility. The new credit facilities mature on March 2020, with two one-year extension options. According to Prometeon, the credit facilities secure the firm’s “financial independence and autonomy following its separation from the Pirelli Group and optimise the company’s capital structure”.
Greg Clark MP, Secretary of State for Business, Energy & Industrial Strategy, has given the green light to 5*StarS as part of the national strategy to establish the UK as a global centre for the development, testing and commercialisation of Connected Autonomous Vehicles.
Pneusmart, the Amsterdam-headquartered online tyre dealer, has secured seed funding of 765,000 euros led by Shark Bites, Digital Magics and a group of international angel investors.
According to the company, the funds will be used to consolidate Pneusmart’s position in the Netherlands, Germany and Italy. The company will further invest in its Milan office from where it will coordinate its activities in Southern Europe. In the coming months new websites will be launched in Spain and France.
Councils across the country have won nearly £21 million of funding from the government to promote green forms of transport, it was announced recently. The funding is being given out for 23 sustainable travel initiatives across England that boost local economies by supporting people’s ambitions – offering cheap, clean and healthy travel options to access […]
The government has launched a £2 million fund to encourage more businesses to switch to hydrogen-fuelled vehicles. The Fuel Cell Electric Vehicle (FCEV) Fleet Support Scheme will allow local authorities, health trusts, police forces, fire brigades and private companies to bid for funding to add hydrogen-powered vehicles to their fleets. Bids for the FCEV Fleet Support Scheme must be submitted by Monday 4 July 2016. Successful bidders will be informed later this year.
The Energy Technologies Institute (ETI) is to invest £200,000 in the first stage of four-month project which aims to develope smart tyre pressure system (commonly called TPMS) at MIRA. According to the two parties, the project aims to help increase the fuel efficiency and reduce emissions of all heavy duty land vehicles that use pneumatic tyres.
The Government has released details of how a £50m pothole fund is to be divided up between English councils. The cash will be split among 118 authorities. Transport secretary Patrick McLoughlin said the government wanted to “tackle the blight of potholes”. Devon council is to receive the most cash. The Local Government Association says it will take £12bn to fix the roads.
A consortium initiated by Tructyre has won £1.2 million of funding for its “Pathway to Autonomous Commercial Vehicles” project. This project aims to develop “an innovative solution to monitor key information from the vehicle and predict safety risks based on analytics”. It builds on a prototype which monitors tyre pressures and temperatures in commercial vehicles, combined with always-on network connection.
The Road Haulage Association (RHA) says it is extremely disappointed that, once again, the Chancellor has failed to address the urgent need for £150 million to fund truck driver training, and it considers the omission to be a threat to economic recovery.