Sunderland-based Hyperdrive Innovation (HI), which develops innovative technologies to power electric vehicles, homes and businesses, is on track for a £10 million turnover in 2018, doubling last year’s result.
The company, which was launched in 2012, is also aiming to pass the £20 million mark by 2020, amid strong global demand for its products.
Employing 40 people, HI has worked on projects including airport pushback tractors, autonomous passenger shuttles, construction machines and delivery vehicles, mobile energy storage, and airport ground power.
One of several contributors to its strong performance this year is soaring demand from the manufacturing sector. In September, the company will double the production volume of its factory robotics battery packs in response to growing world-wide demand.
Earlier this year, the firm signed a deal worth around £40 million to enable Taiwanese manufacturing giant Foxlink Group to produce and sell HI’s modular battery pack in Asia.
This came after the company had secured a global supply agreement to incorporate Nissan’s lithium-ion NMC Polymer cells technology into its high-performance battery systems.
Its energy storage division is also faring well, with a number of developments in the pipeline.
A residential energy storage trial, connecting solar panels, smart meters and HI’s energy storage technology, is currently under way in the UK.
Its aim is to enable residents to use in the evening, when energy demand peaks, solar power that was generated during the day, rather than feeding it into the national grid.
HI’s (
www.hyperdriveinnovation.com) growth has been supported by Sunderland City Council, which has helped the company to secure its base in the Future Technology Centre near Nissan’s Sunderland plant and assisted with organising trade missions.
Commercial managing director Stephen Irish said: “Since we launched six years ago, we have put a lot of effort into developing our new products and getting the production facility up to speed.
"We are now at the scaling-up stage, where we are primarily selling the products and helping customers to adopt them into their products. The rate of growth we are expecting is, therefore, quite substantial.”