Innovation Centres "graduate company" continues to grow
Sheffield-based Magnomatics has secured a number of major overseas contracts worth more than £15 million.
The magnetic transmission specialist expects the new deals with Siemens AG, Fiat and Volkswagen to herald a "radical" new approach for urban driving and electric vehicles.
With these large European firms honing in on Magnomatics' expertise, the partnerships highlight Britain's position as a hotbed for engineering innovation.
The company was formed in 2006 as a spin-out venture from the world-renowned Electrical Machines and Drives research group at the University of Sheffield. During the last 12 months the firm has had to double its workforce from seven to 14 to cope with expanding demand.
Managing director Chris Kirby said: “We are extremely pleased and proud to have been chosen to work on two large EU projects with some of the world’s most high profile companies.
“It’s very exciting to think that our technology, which has been entirely developed in the UK, could help revolutionise next generation vehicles across the globe.”
Magnomatics provides novel proprietary magnetic transmissions and generators for large multinationals across a number of sectors, such as aerospace, renewable energy, automotive and defence.