Danish multi-national Danfoss (
www.danfoss.com) has acquired a majority shareholding in Scotland-based Artemis Intelligent Power Ltd; it plans to develop the firm’s existing facilities and generate new jobs.
Artemis specialises in hydraulic system development, and the acquisition includes its Digital Displacement technology, which will enable Danfoss to develop hydraulic pumps, motors and systems for use in off-road vehicles, trains, industry and other market sectors world-wide.
Danfoss also confirmed that it will establish a manufacturing operation near the Artemis facility at Loanhead, just outside Edinburgh.
Eric Alström, president of Danfoss Power Solutions, said: “Digitalisation is a key driver in our industry, and Artemis Intelligent Power constitutes a strategic fit with our ambition for technology leadership, innovation speed and the core product differentiators of efficiency and controllability.
"Digital Displacement technology will give Danfoss a competitive advantage in developing innovative products and systems and bringing them to the market.
"The team at Artemis has the right entrepreneurial spirit and agile mind-set, and I’m looking forward to welcoming them to Danfoss.”
Earlier this year, a consortium comprising Danfoss and Artemis secured £11 million from the UK’s Advanced Propulsion Centre to develop the Digital Displacement technology, alongside West Lothian-based Robbie Fluid Engineering.
Artemis will now become a joint venture between Danfoss and Mitsubishi Heavy Industries (MHI), with Danfoss as the majority shareholder.
Niall Caldwell, managing director of Artemis Intelligent Power, said: “For as long as people need to dig, build and plough, we will need heavy machines to help them, but this market urgently needs cost-effective digital technologies to reduce emissions and boost automation.
"I’m thrilled that our technology and our team have been recognised as a key part of the solution by a leading global manufacturer.
"Like Mitsubishi, Danfoss sees developing energy-saving technologies as the foundation of its future business.”