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You are here: Home1 / funding

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Versarien wins £1.95 million graphene research development agreement

Company News, UK News

Versarien plc, which makes nanocompounds for tyre applications amongst other things, is was awarded a product development funding from the Defence, Science and Technology Laboratory (DSTL), a part of the Ministry of Defence at the end of November 2020.

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Related news:

  1. Versarien appoints chief technology officer
  2. Directa Plus awarded patent for G+ elastomeric composition for tyres
  3. European tyre maker trialling Versarien’s Nanene
  4. Gratomic and Perpetuus partner in graphene tyre project
1st February 2021/by Chris

Kerr’s Tyres secures £500k funding from Ulster Bank

UK News
Norman Kerr portraitKerr’s Tyres

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).

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Related news:

  1. Kerr’s Tyres & Auto creates 20 new jobs in £2.5 million investment
  2. Kerr’s Tyres & Auto to invest £2 million creating 15 new jobs
  3. Kerr’s Tyres buys M & S Tyres Enniskillen
  4. MOT exemptions extended to a year in Northern Ireland
29th May 2020/by Chris

Queensland motor industry invests in Australian tyre recycler Green Distillation

International News

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.

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Related news:

  1. Tyre Derived Fuel reducing greenhouse gas emissions in Australia
  2. Aussie recycler turns aircraft tyres into bio fuel
  3. GDT tyre-deived oil output ‘already sold’
  4. Green Distillation Technologies signs $100 million US tyre recycling plant deal
2nd March 2020/by Chris

Tirescanner.com live in 42 US states, multi-million dollar funding close

Company News, International News
Tirescanner map

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.

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Related news:

  1. SimpleTire grew 1197% in three years
  2. Goodyear introduces “Roll by Goodyear” integrated tyre retail programme
  3. Tirescanner reports 400% sales growth in first quarter
  4. TireScanner appoints three ex-Blackcircles execs
7th November 2019/by Chris

Expert questions tyre role in marine pollution claims

News, UK News

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.

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Related news:

  1. Microplastics: Government to tackle tyre pollution
  2. Tyre particulate solution wins James Dyson Award
  3. Tyre wear particles – minor problem for the industry or potential ‘tyregate’?
  4. Research reveals ‘vital information’ relating to tyre particles…
15th February 2019/by Chris

First Line secures £20m in funding from Santander to support global export growth

Company News, UK News

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.

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Related news:

  1. Michelin closing Ballymena factory, investing in Dundee and Stoke-on-Trent
  2. Michelin unveils European Distribution Centre in Stoke-on-Trent
  3. FinTyre buys RS Exclusiv Reifengrosshandel and TyreXpert Reifen + Autoservice
  4. European Springs expands with 1 million euro investment in UK operations
23rd October 2018/by Andrew

Promoteon establishes three-digit million funding lines with 8 international banks

Company News, International News

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”.

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Related news:

  1. Prometeon/Aeolus integration stalls
  2. Increased capacity, exports: Prometeon investing $115 million in Turkey
  3. Camfin gains right to buy up to 15% of Pirelli shares
  4. TP Commercial Solutions opens North American headquarters in San Diego
12th July 2017/by admin

5*StarS consortium, led MIRA, to focus on cyber security

Company News, UK News

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.

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Related news:

  1. ETI developing ‘smart’ TPMS at MIRA
  2. Horiba Mira hosts first UK collaborative trials of driverless cars
  3. ResiCAV: ‘Urgent Need’ for UK Road Transport Cybersecurity Programme
  4. Horiba MIRA reopens, becomes ‘Covid-Secure’
11th April 2017/by admin

Tyre e-tailer Pneusmart secures 765,000 euros financing

Company News, International News

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.

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Related news:

  1. Tirescanner.com live in 42 US states, multi-million dollar funding close
  2. Wide variation in prices achieved by different brands and platforms online
  3. Huw Lewis Tyres’ upgrades online platform with Michelin funding
  4. Autocar partners with Summit for tyre buying site
20th June 2016/by admin

£21 million grants for green transport initiatives

Legislation, UK News

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 […]

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Related news:

  1. Chris Grayling named as new Transport Secretary
  2. Alcohol experts ‘astonished and frustrated’ at lack of movement in drink-drive law
  3. Government plans to boost ULEV market
  4. Roads minister announces ‘evidence review’ of red lights for recovery operators
31st May 2016/by Andrew

£2 million government fund to promote roll-out of hydrogen-fuelled fleet vehicles

News, UK News

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.

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Related news:

  1. Unrealistic valuations helping to distort used vehicle market, says Glass’s
  2. More car manufacturers introduce scrappage schemes
  3. Companies urged to prepare now for a low emission future or risk losing business
  4. Pirelli pitching its tyres as ‘the perfect fit for fleets’
10th May 2016/by admin

ETI developing ‘smart’ TPMS at MIRA

Product News, UK News

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.

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Related news:

  1. 5*StarS consortium, led MIRA, to focus on cyber security
  2. MIRA first to offer Tempest-accredited testing in the UK
  3. ResiCAV: ‘Urgent Need’ for UK Road Transport Cybersecurity Programme
  4. Horiba MIRA reopens, becomes ‘Covid-Secure’
14th April 2016/by admin

Pothole cash allocation announced

News, UK News

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.

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Related news:

  1. TyreSafe: significant increase in cracked wheel rims
  2. “Filling in potholes is no substitute for more dynamic infrastructure” – LeasePlan MD
  3. Pothole-related breakdowns on the increase, says RAC
  4. Government accelerates pothole mapping project
8th April 2016/by admin

£5.4 million funding for five-strong battery development consortium

Product News, UK News

A consortium, led by Thurso-based AGM Batteries, has been awarded funding towards a £5.4 million project to develop the next generation of battery packs for high performance, low carbon vehicles.

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Related news:

  1. EBT Automechanika Birmingham technical seminar seeks to provide clarity
  2. University of Warwick in £65 million battery research initiative
  3. Be prepared for the changing battery landscape – and increase profit
  4. Cenex and Warwick Manufacturing Group to host Battery Safety and Legislation Seminar Stream at Cenex-LCV2019
29th February 2016/by Andrew

Tructyre wins £1.2 million driverless truck funding bid

Company News, Premium, UK News

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.

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Related news:

  1. The thinking behind Bridgestone’s TomTom Telematics acquisition
  2. Michelin launches fleet tyre management apps
  3. Michelin Tire Care [strategy] launched
  4. Fleet Symposium brings stakeholders together
1st February 2016/by admin
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