![]() |
|
Funding boost for Tanfield
Bombed-out electric vehicle maker Tanfield will receive £1.6 million funding to develop and trial vehicles from the Government's Technology Strategy Board.
As part of the Transport Secretary Lord Adonis’s Ultra Low Carbon Vehicle Demonstrator Programme, the AIM-listed Tanfield will build and test 16 vehicles, including five people carriers and one executive minibus with automotive giant Ford. Tanfield will also work with fully listed Manganese Bronze to provide ten electric taxis.
Chief executive officer Darren Kell says the project funding helps move the company into new markets. 'This funding will support our plans to transfer leading edge electric vehicle technology from our vans and trucks into passenger vehicles.’
‘Tanfield is already acknowledged as the leader in electric vehicles that move goods. This enables us to address the market for electric vehicles that move people.'
The government is putting £25million into the programme, which will involve around 340 cars driving on UK roads in the next six to eighteen months. The aim is to test the technology and give motorists the opportunity to provide feedback to the manufacturers.
Furthermore the company has also been confirmed as part of another government scheme, the Low Carbon Vehicle Procurement Programme, which will provide subsidies for certain public sector bodies to buy electric and low carbon vans. Tanfield says it will be a 'key supplier' in this project, providing an as-yet unknonwn number of its Smith Edison vehicles as part of the 150-van first phase and perhaps more if the scheme is expanded as planned.

Other M&A Deals
- Thermal Engineering bought by Privet Capital Jul 30 2010
- Wood fuel pioneer plans AIM float Aug 11 2010
- Foresight makes green investment Sep 01 2010
- MASI acquires AgriGuard Aug 25 2010
Special Offers
M&A News
- Alterian's Intrepid acquisition Sep 01 2010
- Dwell unlocks £5 million funding Aug 31 2010
- Moonfruit raises expansion funds Aug 31 2010
- Compass acquires Vision Security Group Aug 31 2010
- BGC Partners buys Mint Aug 25 2010
M & A Events
- M&A Awards 2010 20th May
