Joint study to evaluate commercial proposition of delivering 40,000 Inductive Power Transfer (IPT) systems over 5 years for an estimated value of 80 million Euros
Coventry, 23 May 2011 – Evida Power, Ltd., a leading designer and manufacturer of lithium-ion battery packs for electric vehicles (EVs), is pleased to announce that it has executed a Memorandum of Understanding with HaloIPT, the global leader in Inductive Power Transfer (IPT) systems for the wireless charging of electric vehicles. The agreement is part of Evida’s commitment to lead the growing EV market by providing true value to automakers and end customers through realistic and viable EV solutions and has an estimated value of 80 million Euros.
Unlike most of the existing EV charging systems which require the direct connection of a cable from the energy source to replenish a battery, the wire-free inductive system uses a strongly coupled magnetic resonance to transfer an immediate and highly efficient charge between a ground-based transmitting pad, on which the car is positioned, direct to a receiver pad located on the vehicle.
Under the agreement, Evida and HaloIPT will jointly undertake a study designed to explore the feasibility of the manufacture of 40,000 Induction Power Transfer systems over a five-year period, and the goal of the partners is to develop a long-term venture for deployment of the system. These systems are intended for supply as a specification option on a forthcoming electric car, for which sales are estimated to reach 70,000 units by 2015.
The Memorandum of Understanding brings together a team of experts from both Evida and HaloIPT, who will evaluate the commercial viability and unit cost of the IPT system relative to the proposed build volumes, as well as cooperate to further develop the system and its technology. This will include the definition of the most effective manufacturing processes and supply chain network structure, production schedule, as well as the preferred assembly location. Both organisations will equally examine the scope of civil engineering required to integrate the innovative wireless charging infrastructure in the urban environment.
Furthermore, the companies will together establish the optimum level of power to be delivered to the vehicle whilst also looking to develop a greater understanding of the communication and packaging implications resulting from the adoption of IPT technology.
Commenting on the agreement with HaloIPT, Jonathan Shine, Evida’s Co-founder and VP of Business Development stated: “We are delighted to be collaborating with a world-renowned pioneer of revolutionary wireless charging systems. This will not only enable the sharing of complementary expertise, but will, in turn, provide our business with a significant opportunity to extend our current product offering beyond the supply and integration of battery packs, and supply the very latest wireless technology to our client base going forward.”
Dr Anthony Thomson, CEO of HaloIPT said: “Through the Memorandum of Understanding with Evida we will be able to expand production and move into high volume sales. We will be working closely with Evida to develop a solution which will give EV manufacturers a more convenient, efficient, user-friendly alternative to the existing plug-in charging infrastructure.”
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Notes to Editors
Evida designs, develops and manufactures high-quality and cost-effective lithium-ion battery packs for the electric vehicle (EV) market. Evida’s products are custom engineered to suit specific client needs and are delivered complete with battery management systems (BMS) and CAN integration. A portfolio company of Terra Venture Partners (www.terravp.com), Israel’s premier clean energy venture capital fund, Evida is a US-registered company with operations in Europe, Israel and China, and aspires to become a leading enabler of electric vehicles, providing battery pack design, EV integration services and customised financial solutions to enable the uptake of commercial electric fleets. For more information on Evida, visit www.evida.com.
HaloIPT is a UK-based technology development company specialising in public and private transportation. The company was founded in 2010 by research and development commercialisation company UniServices, Trans Tasman Commercialisation Fund (TTCF) and by the global design consultancy Arup. HaloIPT owns the rights to the intellectual property behind its wireless charging technology: providing stationary and dynamic in-motion charging for electric vehicles, lowering costs and improving usability. HaloIPT’s CEO, Dr Anthony Thomson, has brought together a team of experts in IPT technology from around the world to develop the commercial application of wireless charging. For more information, please visit www.haloipt.com or email email@example.com.
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