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Torotrak at SAE World Congress
The AVL Technology Cafe Schedule is set for the SAE World Congress. AVL is again sponsoring the AVL Technology Cafe at SAE World Congress, directly adjacent to the AVL Technology Theater in booth #1387.
There will be a total of 26 sessions. On Wednesday, April 16, Chris Brockbank of Torotrak is giving a session entitled "Full-toroidal Traction Drive Technology in a CVT Application for a Mechanical Kinetic Energy Recovery System (KERS)
Fuller details at http://www.theautochannel.com/news/2008/04/08/083625.html
Lhasa
Thank you Dread
Please remove me as Assistant to this board.
Think of all the postage we are saving!
I'm happy to remove you if you really prefer but if you ever feel an update to the board is necessary, for example, to notify readers that ToroTrak has been bought out for 100 Euros per share, then the option is open to you!
Hi Dread
I see that you have made me an Assistant on this board again, after all the trouble I went to to get out of the job.
Almost nobody apart from you and I are reading this board and so I am not prepared to spend time on keeping the iBox up to date.
Nothing much is happening with Torotrak on a day by day or even week by week basis, but any real news that comes up I will post a few words about it and also, as has just happened, if an actual poster turns up and asks a sensible question I will do my best to answer it. I do monitor the board on a more or less daily basis as I do the Torvec board BTW.
Lhasa
Thanks for the update!
Hi Lhasa,
Thought you might want to update the info on the iBox. Access is all yours!
Cheers!
Copleybmt, I checked out your IHub profile
after my initial reply to you so I have seen that you are an IHub regular. You have asked the 64,000 dollar question and of course I cannot give you a straight answer. If I knew the time frame for Torotrak becoming really successful I would be clairvoyant (and a very rich man as well).
I am in much the same position with Torotrak as most of the Torvec posters on the Ihub Torvec board, in that I own a large number of Torotrak shares which are showing a substantial loss in my portfolio at present, so I am hanging on in expectation of the company getting their full toroidal Infinitely Variable Transmission (IVT) incorporated into volume production in a range of vehicles.
At present trial production runs are taking place by Torotrak's joint venture partner, Infinitrak, who are making tiny IVTs for the other joint partner, MTD (of Cleveland, Ohio), to go into one of their ride on-lawn mowers. We have been promised that full production will commence in time for the 2008 mowing season. Each mower uses a pair of transmissions, one for each back wheel, and they are calling them TTTs, (Twin Toroidal Transmissions).
The most recent development has been with a couple of as yet un-named Formula1 racing car makers. Torotrak have worked jointly with two other firms, Flybrid and Xtrac and between them they are designing a Kinetic Energy Restoration Sysytem (KERS) for Formula1 cars, based on a flywheel and a small toroidal CVT which links the flywheel to the car's transmission to give speed boosts at critical moments in the race. The flywheel is speeded again up during vehicle braking.
This is very good because of the useful publicity that Torotrak will be getting in the run up to the KERS gadgets being actually used in the 2009 race season. More importantly however in the long run is that it is already being stated by Flybrid aand Xtrac that they see clear possibilities of using their KERS invention in saloon cars in the future.
There are other major deals are in the pipeline. First with Tata Motors. We don't know the financial deal yet but it will certainly involve a multi million pound up-front licence fee from Tata. We don't know what vehicle or vehicles Tata intend to put IVTs in but their licence covers a wide range of vehicles from cars to vans, trucks and buses.
Secondly there is a deal with an un-named European truck and bus maker which has already involved a £7m payment to Torotrak (in stages I think) and thirdly they are progressing well with an IVT for Uzel, a Turkish agricultural tractor maker.
Another client is in the Fork Lift Truck business and Torotrak have made or are making a prototype IVT for them. An Italian transmission firm, Carraro, have a licence to develop IVTs for a range of specialist tractors and also IVTs for their own extensive list of customers for whom they already make other transmissions.
Torotrak's original target customers, the American SUV makers, seem to have lost interest. I can see though that they have quite a few problems of their own to worry about without trying out a new "British" invention. However, some of the world's largest Tier 1 transmission companies like Aisin in Japan, are very much "on board" with Torotrak's IVT and claim to be working on IVT applications with specific customers on target vehicles, but they are not saying whom.
It all looks very promising but who knows when we will see real results. As of now Torotrak has enough money to carry on and is earning money, not only from one-off licence fees but from regular consultancy payments from their many customers who are paying Torotrak to help develop their own particular IVT applications.
It is not for me to give investment advice of course and the standard line of Do Your Own Research applies. If you are inclined to want to know how Torotrak's various IVT designs work, the company's website, www.torotrak.com is an excellent source of information. There is far more information there than you will ever get about Torvec on their website.
Good Luck
Lhasa
I invest in alternative and energy companies
BCON
ARSC
SSTP
alry
edex
scu
I would like to hit a grand slam with a couple of these and was wondering if this company Toro Trak was one of them?
What is the time frame for this stock to take off?
The youtube link was just Ron Paul.
Welcome to this quiet backwater copleybmt
Was that a serious question or did you just want us to click on the youtube link in your signature? I didn't BTW.
Anyway if you want a serious answer I ask that you please frame a question in more detailed terms and I will give you my best answer but as it stands the question is way too vague to know where to begin.
In the meantime you might like to read 3parsnips post on the iii board about future possibilities for Torotrak's IVT in KERS (Kinetic Energy Recovery Sysytems) for passenger cars.
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3ATRK.L&it=le&action=detail&id=3976681
Lhasa
Yes Dread. I realise that.
SPEEDWAY MOTORSPORTS(NYSE: TRK), but I still think Torotrak could be referenced on iHub as LSE: TRK to differentiate it from NYSE: TRK but I also realise that I am banging my head against a brick wall so I had better stop before the pain gets too bad :)
Lhasa
Here's a good reason:
http://finance.yahoo.com/q?s=TRK
That ticker symbol is already used by another US company.
Hi Lhasa
I'll see about having the symbol changed. Not under my power but iHub's.
It's very likely that nobody is reading this.
So I am giving myself the luxury of having a little grumble. Torotrak plc is quoted on the London Stock Exchange under the Epic Code TRK. It is also quoted in the UK on the PLUS market under the Epic Code TRK.GB. The shares are traded fairly heavily on both these markets and at matching prices but in the USA it seems that the company is quoted on the USOTC market under the Epic Code TROAF but however no shares are ever actually traded under this Code. My evidence for saying this is from having all three Epic Codes listed on my Default Monitor page I have up every day on adfvn.com which enables me to watch all the trades under all three Codes.
The quoted price under TROAF is stuck, seemingly permanently, at 72 cents, which equates to 36 pence (0.36 GBP). However the true price of the share is 22.25 pence (as at close tonight).
My little grumble is why cannot Torotrak be referred to on Investors Hub by it's proper Epic Code, TRK, rather than one which is never used by anyone?
There. I feel better having got that off my chest, even though I fully realise that nothing can be done.
A good post on the iii board
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3ATRK.L&it=le&action=detail&id=3934540
Lhasa
Interesting article by Frank Markus in Motor Trend.
It's all about F1, KERS, Flybrid and Torotrak's CVT :-
http://www.motortrend.com/features/editorial/112_0803_technologue/
Interim Management Statement Feb 14 2008
Torotrak PLC
14 February 2008
Torotrak Plc
Interim Management Statement for the period 1 October 2007
to 13 February 2008
Torotrak is today providing its Interim Management Statement for the period 1 October 2007 to 13 February 2008, focusing on the key areas of development since the half-yearly report released on 27 November 2007.
We are pleased to confirm that, as a result of the timing of our licence agreements and engineering programmes, the substantial weighting of our revenues towards the second half of the year is materialising as predicted and, as a result, our operating performance is in line with full year expectations.
On 19 December 2007, we announced that we had entered into a Licence Agreement and an Engineering Development Agreement with a major European truck and bus manufacturer. These two agreements have a combined value in excess of £7million.
More than half of this relates to licence income which is due to be paid prior to 31 March 2008. The engineering programme to deliver prototype transmissions for assessment in two types of our client's commercial vehicles, which is expected to last for at least 3 years, has now commenced.
Infinitrak's programme of final testing and validation of off-tool examples of the Twin Toroidal Transmission (TTT) described in our November half-yearly report has continued. This has identified a small number of production conformity issues on parts manufactured by external suppliers - none of which
relates to the core technology of the TTT unit - which are in the process of resolution to ensure a high quality launch. Series production in limited volumes, to support MTD's initial requirements, is therefore expected to commence around Torotrak's year end but, irrespective of exact timing, still
within MTD's 2008 build season. Infinitrak is continuing to plan for a full year of volume production and sales in Torotrak's next financial year, in line with our expectations as reported in November 2007.
We are pleased to report that our Licence Agreement with Tata Motors Ltd is now in the final stages of approval by the Indian Government, having been cleared by the Indian Project Approval Board on 31 January 2008. Accordingly, Tata Motors expects the licence to be concluded formally before 31 March 2008. We can also confirm that we have begun work with Tata Motors' engineers to determine their first development application.
We will provide a full report covering all of our markets and sectors in May 2008 when we announce our Preliminary Results for the year ending 31 March 2008.
For further information:
Dick Elsy, Chief Executive Simon Hudson
Jeremy Deering, Finance Director Lulu Bridges
Torotrak Plc Tavistock Communications
Tel: +44 17 7290 0938 Tel: +44 20 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
Happy New Year Lhasa!
Been a long time.
Same old, same old on the Torvec side of the ledger.
Cheers!
Dread
Share write up
http://boards.fool.co.uk/Message.asp?mid=10880036&bid=51144
Have any of you guys seen this?
Torotrak PLC
("Torotrak" or "the Company")
New Licence Agreement and Engineering Development Agreement with a Major
European Truck and Bus Manufacturer
Following the statement contained in Torotrak's Half-Yearly Results, published on 27th November 2007, that the Company had entered into a Memorandum of Understanding with a major European truck and bus manufacturer, Torotrak plc is pleased to announce that it has now entered into a Licence Agreement and an Engineering Development Agreement relating to the use of Torotrak's full-toroidal traction drive technology in this client's commercial vehicle range.
The total value of the Licence Fee and subsequent payments relating to the Engineering Development Agreement is in excess of £7.0m, with more than half of this sum being payable during this financial year. Under the terms of the Licence Agreement the client has secured the right to use Torotrak's technology to develop and manufacture transmissions for worldwide sales in their vehicle range together with a period of exclusivity to develop Torotrak's technology for use in the field of heavy commercial vehicles.
In addition to the Licence Agreement, the parties have also entered into an Engineering Development Agreement whereby Torotrak will undertake a substantial prototype engineering programme for the client which will span a number of years.
Torotrak and the client have agreed that, for reasons of commercial sensitivity and in order to protect the customer's competitive position, the new licensee's identity will remain undisclosed.
Commenting on the agreements, Dick Elsy - CEO, Torotrak plc, said, "These agreements with this prestigious customer highlight the capability and economic benefit of Torotrak's technology in the commercial vehicle market. We are delighted to have secured this new client - recognised as a market leader and for their world-class engineering skills in their field - as a Torotrak licensee.
With these new agreements, we have taken a further, major step in the repositioning of Torotrak as a provider of toroidal transmission technology for a wide range of product and market applications. The successful implementation of our diversification strategy during the past three years has moved Torotrak a long way from its single focus and dependency on the automotive market, and the Company is substantially stronger as a direct result."
Have any of you guys seen this?
Torotrak PLC
("Torotrak" or "the Company")
New Licence Agreement and Engineering Development Agreement with a Major
European Truck and Bus Manufacturer
Following the statement contained in Torotrak's Half-Yearly Results, published on 27th November 2007, that the Company had entered into a Memorandum of Understanding with a major European truck and bus manufacturer, Torotrak plc is pleased to announce that it has now entered into a Licence Agreement and an Engineering Development Agreement relating to the use of Torotrak's full-toroidal traction drive technology in this client's commercial vehicle range.
The total value of the Licence Fee and subsequent payments relating to the Engineering Development Agreement is in excess of £7.0m, with more than half of this sum being payable during this financial year. Under the terms of the Licence Agreement the client has secured the right to use Torotrak's technology to develop and manufacture transmissions for worldwide sales in their vehicle range together with a period of exclusivity to develop Torotrak's technology for use in the field of heavy commercial vehicles.
In addition to the Licence Agreement, the parties have also entered into an Engineering Development Agreement whereby Torotrak will undertake a substantial prototype engineering programme for the client which will span a number of years.
Torotrak and the client have agreed that, for reasons of commercial sensitivity and in order to protect the customer's competitive position, the new licensee's identity will remain undisclosed.
Commenting on the agreements, Dick Elsy - CEO, Torotrak plc, said, "These agreements with this prestigious customer highlight the capability and economic benefit of Torotrak's technology in the commercial vehicle market. We are delighted to have secured this new client - recognised as a market leader and for their world-class engineering skills in their field - as a Torotrak licensee.
With these new agreements, we have taken a further, major step in the repositioning of Torotrak as a provider of toroidal transmission technology for a wide range of product and market applications. The successful implementation of our diversification strategy during the past three years has moved Torotrak a long way from its single focus and dependency on the automotive market, and the Company is substantially stronger as a direct result."
Done. Best of luck, Lhasa.
To dread50 - Re Assistant Moderator
Dread, in a private mail to me (which at my level of iHub membership I cannot reply to) you said :-
"Hi Lhasa,
Hadn't see any posts from you recently and just noticed that somehow, you had been dropped as a moderator. Not sure how or why that happened. Nothing intentional on my part! I had designated a co-moderator for the Torvec board but then that person changed their mind so I deleted them. Wondering if that deleted ALL co-moderators?
Anyway, haven't heard from you since July. Hope you are in good health and prospering! "
Thank you for the kind wishes but I contacted the boss man at iHub and asked to be removed as Assistant Moderator which he did. Please remove me again as I no longer wish to post on this board (and neither does anyone else apparently).
Lhasa
Lhasa, How has the Torotrak price reacted to the recent news releases? Torvec hit $3.11 today. Ouch!
Evidence of how KERS will help ordinary cars
Thanks to Yorrick on the iii board for spotting this:-
I have just received a Google news alert referencing an article published today on Automotive World by John Mortimer:-
Xtrac and Torotrak are suppliers to Flybrid Systems of Silverstone, UK, which came up with the idea of a flywheel-CVT KERS for F1
And Thanks also to StonyB for his post on the iii board :-
New technology: kinetic energy recovery systems
By John Mortimer
3 July, 2007
Source: Automotive World
Kinetic energy recovery systems will become mandatory in Formula One racing cars in 2009, but is there a future for the technology in road cars?
--------------------------------------------------------------------------------
New Formula One (F1) motor racing technology, set to debut in 2009, could filter down to road-going cars - first at the luxury end - to improve emissions ...
Further information is also available on the Flybrid Systems web site :-
http://www.flybridsystems.com/index.html
More about that Fork Lift Truck deal
Company bags £450,000 fork-lift deal
A Lancashire technology firm has signed a £450,000 deal to produce parts for one of the world's leading fork-lift truck makers.
Torotrak plc, of Aston Way in Leyland, has reached an agreement with an unnamed manufacturer to design and supply it with a prototype of its Infinitely Variable Transmission (IVT) system.
The company revealed the initial deal will be complete by next year when the prototype will be used for testing and evaluation by the mystery "leading manufacturer of vehicles for the materials handling sector".
Torotrak chief executive Dick Elsy told the company's shareholders that the prototype fork-lift truck would demonstrate "the technical capability and commercial advantages" of the firm's technology.
He said: "The development of this prototype IVT for one the world's leading manufacturers endorses the versatility and flexibility of Torotrak's technology and our strategy to focus on specific sectors where our technology can provide benefits over the traditional systems.
"This is another example of the growing product and market portfolio which now characterises our business and which supports our growth plans."
The initial deal, which could lead to a longer-term agreement with the firm, would be a major breakthrough into the fork-lift truck industry for Torotrak.
It is presently working on deals to provide gear-box parts to a major Asian car-maker and a leading manufacturer of ride-on lawnmowers in the United States.
The first parts of its IVTs have already rolled off the production line at American lawnmower firm MTD Holdings' factory in Leitchfield, Kentucky.
Technology behind the production is being led by a team of 60 engineers and designers from Torotrak's base in Lancashire.
It certainly seems to be coming together at last with this company. Obviously a long way to go yet, but it does strike me that many years of R&D with:
Ford
GM
Toyota
Aisin
Getrag
ZF
and others has brought the technology to a stage where it can be scaled and modelled to suit any application within a short timeframe. FLTs (of which we know there is at least one other company doing a full study) comes hot on the heels of F1 regenerative braking, which has the possibility of blowing current hybrids out of the water once up and running.
I suggest all it needs now is for the Memorandum of Understanding with the Asian car manufacturer to be converted into a full licence to transform this company completely. And this we are promised within the next month or two.
Sheriff - Hopefully we will all be laughing
I still have my few Torvec shares and I haven't given up hope on them yet. One thing the two companies do seem to have in common is that they are very good at keeping secrets. Nothing leaks out until a deal is done and that is fine by me. I set no great store by the constant speculations that go on regarding both companies.
Very nice Lhasa, Torotrak keeps moving forward, While the "gentlemen" on the Torvec board are laughing at Torotrak's technology. In the mean time Torvec keeps losing ground. I have a hunch you're going to have the last laugh.
Dread admitted our China deal is dead or at the very least dormant. To bad the Torvec BOD won't give us the courtsey of an update on our final stage deal. Pretty soon we're going to be reading about Tototrak and the Chicago transit authority....
Agreement to develop prototype IVT for FLTs
Torotrak PLC
27 June 2007
Torotrak is pleased to announce that, following an initial investigative programme (referred to in the preliminary results statement on 15 May 2007) with a leading manufacturer of vehicles for the materials handling sector, it has now signed an agreement with one of the world's foremost fork-lift truck
manufacturers to design and supply a prototype vehicle equipped with Torotrak's Infinitely Variable Transmission ('IVT') to be used for testing and evaluation.
This initial programme valued at approximately £450,000 will commence immediately and will complete during 2008.
The prototype IVT fork-lift truck will demonstrate the technical capability and the commercial advantages of Torotrak's technology within the materials handling sector. It is expected to deliver an efficient, smooth and highly controllable driving experience for the customer.
Dick Elsy, CEO Torotrak plc said: 'We are delighted to have secured this prestigious new customer in the materials handling industry, which is a new sector for Torotrak. The development of this prototype IVT for one the world's leading fork-lift truck manufacturers endorses the versatility and flexibility of Torotrak's technology and our strategy to focus on specific sectors where our technology can provide benefits over the traditional systems. This is another example of the growing product and market portfolio which now characterises our business and which supports our growth plans'.
Llasa, Hope the Torotrak China deal is better than ours. It would be nice with we didn't have to hear that our "final stage deal" is dead or dormant from a message board.
From the Torvec Board.
"China sounds like a erie combination of the Wild West and the Industrial Revolution these days. On top of patent violations, Intellectual Property (IP) issues and rampant fraud, it may be a rapidly accelerating market but not one which most shareholders would prefer to see TOVC's tech transferred to. It would appear anyway that a SAIC deal is 'dead' (as dyna would say) or dormant, even after so many visits from the Chinese. Seems to have died without a whimper"
CVTs to aid ‘greener’ motorsport
Toroidal traction drive specialist Torotrak and vehicle transmission design and manufacturing company Xtrac announced on June 5th 2007 that they have entered into a licence agreement to enable Xtrac to develop continuously variable transmissions for use in the new kinetic energy recovery systems (KERS) proposed for Formula One for 2009.
FIA president Max Mosley announced back in June 2006, that,”What we have in mind is this: that every car can be fitted with equipment, which must weigh no more than 20 kilos and will store energy when the car brakes and enable the energy to be used when the car accelerates again”. His justification was that, “We’d be doing research that relates to fuel efficiency and is thus directly relevant to road cars”.
Attending a just held Motorsport Industry Association Media Trade Day at the Rockingham Motor Speedway we happened to see an example composite flywheel developed for energy storage system customers such as Pentadyne Power Corporation by Crompton Technology Group based in Banbury. Engineering Director Mike Dewhirst told us that his company had just received an order for 500 flywheel systems for use in uninterruptible power supplies. For F1, the proposed new regulations state: "5.2.3 The maximum power, in or out, of any KERS must not exceed 60kW. Energy released from the KERS may not exceed 400kJ in any one lap. Measurements will be taken at the connection to the rear wheel drive train."
For more information: http://www.fia.com, http://www.ctgltd.co.uk http://www.torotrak.com http://www.xtrac.com
Author
Tom Shelley
thanks Lhasa...hopefully real institional holdings will take some notice to what is happening with both companies. Thats when we will see share appreciation imo.
Institutional Investors in Torotrak
Dyna - I reproduce following this a posting by 3parsnips on the iii board (Thanks 3p. I know you won't mind) about this point :-
Citywire article today (3 pages)
"Torotrak gains traction on fuel-saving F1 transmission aiming for street"
I notice that the news article comments on the levels of Institutional Investment
Blue Oar Securities.............................1.29%
Hargreaves Lansdown has about.......... 2.55%
Cavendish has about.......................... 3.4%
Waterhouse with about....................... 7%.
Squaregain at about............................ 7.7%
Barclays Stockbrokers with about......... 9.7%
http://www.citywire.co.uk/News/NewsArticlePrint.aspx?VersionID=92906
---------
3Parsnips
Now this looks all well and good but much of the above percentages are based on shares owned by Private Investors whose shares are held in nominee accounts by the companies listed. Most of my own Torotrak shares are for instance held by Squaregain in a nominee account as Squaregain are the online brokers I use for all my share dealings.
At one time "real" Institutions did hold considerable amounts of Torotrak shares but not now. Hopefully they will come back in once the Asian car deal is finalised later this year.
Lhasa - Do you know if Torotrak has any Institutional investors? It would seem to me that with the positive news recently reported by Torotrac (and Tovc) that there should be some interest by some institutions. Unfortunately for tovc, there are no institutions holding a position contrary to what is being said on the other board.
More about KERS from The Guardian
UK firms seek to curb Formula One C02 emissions
By Tahani Karrar
LONDON, Jun 5 (Reuters) - Two British motor technology companies have struck a deal aimed at cutting the greenhouse gas emissions of Formula One racing cars by recycling energy used during breaking to help boost acceleration when overtaking.
Torotrak, which develops automotive technologies, reached a licensing agreement with vehicle transmissions firm Xtrac to develop a system to capture power as a car slows down and release the energy later for overtaking and cornering.
"The stored kinetic energy can be applied by the driver on demand whenever required... to boost performance for rapid acceleration. The device is particularly beneficial when exiting corners or for tricky overtaking manoeuvres," Torotrak said.
Formula One is introducing new rules in 2009 aimed at reducing the environmental impact of the sport, including the use of kinetic energy recovery systems (KERS) which help store energy that would otherwise be wasted during deceleration.
Formula One has been trying to shake off its gas-guzzling image and in November the International Automobile Federation (FIA) said the sport had to address 21st century environmental concerns or risk joining the dinosaurs in extinction.
Saving money, energy and resources and reducing waste is now top of the agenda for a sport famed in the past for profligate spending and conspicuous consumption.
While the initial focus of the technology will be on racing cars, Torotrak Chief Executive Dick Elsy said that KERS could eventually be applied to mainstream cars "to provide performance, economy and greenhouse emission benefits."
At 0830 GMT, Torotrak shares were up 8.4 percent at 45 pence, valuing the firm at about 54 million pounds ($107 million).
Arbuthnot analyst Xavier Gunner welcomed the deal, saying it gave "another sign of confidence in the new management and that they are delivering the right strategy.
"At this stage it is just a licence agreement for F1 but it's interesting because it opens up a whole array of possibilities for them (Torotrak) and the fact that it's a licence agreement tells us that it's further down the track than we might have assumed," he said.
Torotrak gains traction on fuel-saving F1 transmission
aiming for street
From Citywire today:-
Published: 12:50 Tuesday 05 June 2007
By Colin McClelland, Shares Editor
Shares in vehicle transmission company Torotrak revved up after it announced a technology licensing deal for F1 cars to save energy, an innovation that could one day be transferred to sedans in the street.
The deal’s financial details were not disclosed, but it would see Torotrak license its technology to Xtrac to develop F1 car gear boxes using a kinetic energy recovery system.
The technology relates to F1 regulations proposed for 2009 to make the sport less polluting. The aim is to capture energy during braking and apply it to acceleration.
There could be spin-offs into regular cars, Xtrac’s managing director Peter Digby said, citing ‘clear potential to feed the resulting technical solution back into mainstream automotive use’.
The aim would be to use the technology as a performance aid and also to help develop future cars with reduced CO2 emission levels. It could be most beneficial in the start-stop of congested traffic when miles per gallon ratings dive and exhaust chokes the air.
In racing the driver can store the energy then apply it as needed. ‘The device is particularly beneficial when exiting corners or for tricky overtaking manoeuvres,’ the companies said.
Shares in Torotrak added 4.5p or about 10% to 46p, valuing the £54,55 million.
One investor in Torotrak is Blue Oar Securities, which received a glowing endorsement by Chris Blackhurst in the Evening Standard yesterday for being a broker that takes a hard, critical look at the companies it backs.
Blue Oar bought into Torotrak at 1.29% recently, although the same group held a slightly smaller stake when it was known as Corporate Synergy.
Other investors include Barclays Stockbrokers with about 9.7%, Squaregain at about 7.7%, Waterhouse with about 7%.
Cavendish has about 3.4% and Hargreaves Lansdown has about 2.55%
The Torotrak technology uses a flywheel to store and subsequently discharge a moving vehicle's kinetic energy, which is otherwise wasted when the vehicle is decelerated. The kinetic energy is stored during a braking manoeuvre and is then released back into the driveline as the vehicle accelerates.
Torotrak’s contribution is the toroidal traction drive variator to provide a continuously variable ratio connection between the flywheel and the vehicle driveline through the vehicle’s gearbox.
Torotrak has granted a licence to Xtrac to design, manufacture, assemble and distribute components or complete variator systems, which incorporate Torotrak’s technology, to its F1 customers.
Torotrak and Xtrac believe that the variator-flywheel solution provides a significantly more compact, efficient, lighter and environmentally-friendly solution than the traditional alternative of electrical-battery systems, the companies said.
Torotrak shares up 4.75p (11.45%) today on this news
Lhasa
Very interesting indeed. Another technology set out for the race track as proving grounds. I was struck by this paragraph in hebgb's linked article:
Almost any mechanical engineer (and most others!) on the planet would jump at the chance of joining a Formula One team. It’s the most competitive and prestigious engineering activity of all, beating aerospace and computing hands down. Now the FIA has told these engineers to stop playing around and to concentrate on doing something useful, which is precisely what most engineers prefer doing. The Directors of R&D in the major auto companies are going to realize, once they’ve recovered from the shock, that they now have the awesome talents of their racing divisions aimed at one of their key corporate objectives. The clever ones will insist that Racing is still paid for by Marketing, but will also make sure that technology transfer is pursued aggressively. The pace of hybrid development will then accelerate as only a race car can.
Nice development.
For once I’ve started to get excited by something that Torotrak has done. On first reading I took this to be an application in a small (if prestigious) niche market. I’m sure the license fee per box would be considerably higher than that for road cars, but then there wouldn’t be that many of them.
Then I read the following article:
http://www.tbm-f1.de/articles.html
and it becomes clear that this could be very big indeed. Here is a system that would do away with all those silly electric motors and batteries that make the Toyota Prius so expensive to build and heavy to lug around. I can quite imagine that the weight of the total package for a road car would be a fraction of that used in F1, which in itself must be light enough not to hinder performance.
The only query I have is that of the gyroscopic effect going round corners, but then again, if it works in F1 it’s got to work on the road.
Kinetic Energy Recovery System by Torotrak for F1
Torotrak PLC
05 June 2007
Torotrak and Xtrac transmission expertise will help F1 teams develop new, highly efficient, mechanical kinetic energy recovery systems ... technology also applicable to road cars
5 June 2007
Toroidal traction drive specialist Torotrak plc and vehicle transmission design and manufacturing company Xtrac Ltd are pleased to announce that on 4 June 2007 they entered into a licence agreement to enable Xtrac to develop highly efficient and compact continuously variable transmissions (CVTs) for use in the new kinetic energy recovery systems (KERS) proposed for Formula One ('F1') motor racing.
In 2009, F1 is introducing new rules that will lower the environmental impact of the sport. Part of this is to recover deceleration energy that can be stored for acceleration. Xtrac will exploit Torotrak's full-toroidal traction drive technology for use in kinetic energy recovery systems within the motorsport industry, to assist its customers in meeting these new obligations.
Commenting on the co-operation between the two companies, Peter Digby, managing director of Xtrac, said: 'The transfer of world-class transmission technology from Torotrak, combined with the added value of Xtrac's expertise in the design and manufacture of transmissions for motorsport - and with clear potential to feed the resulting technical solution back into mainstream automotive use - is a good example of what I believe FIA President Max Mosley had in mind when he announced that Formula One should embrace an energy efficient future and open up the world of motorsport to new manufacturers'.
Dick Elsy, Chief Executive at Torotrak, added: 'We are delighted to be working with Xtrac on this exciting new application of our transmission technology, to provide a highly efficient KERS solution for initial application in motorsport, but with a clear opportunity to apply the system in mainstream road cars to provide performance, economy and greenhouse gas emission benefits.'
Background
Some of the new KERS systems under development will be mechanically based and will utilise a flywheel to recuperate, store and subsequently discharge a moving vehicle's kinetic energy, which is otherwise wasted when the vehicle is decelerated. The kinetic energy is stored during a braking manoeuvre and is then released back into the driveline as the vehicle accelerates.
The toroidal traction drive variator, being developed with Torotrak and using Torotrak's patented technology, is a central element in these mechanical flywheel-variator KERS systems as it provides a continuously variable ratio connection between the flywheel and the vehicle driveline, via the vehicle's gearbox. Torotrak has granted a licence to Xtrac to design, manufacture, assemble and distribute components or complete variator systems, which incorporate Torotrak's technology, to its F1 customers.
The innovative combination of a Torotrak variator - providing mechanical efficiency that should be in excess of 90 per cent - with a flywheel of advanced construction, results in a highly efficient and compact energy storage system. Whilst Xtrac will supply variator units to its customers, the flywheels for these energy recovery systems are being developed separately by the Formula 1 teams themselves and their specialist suppliers. Torotrak will provide the control system expertise.
Torotrak and Xtrac believe that the variator-flywheel solution provides a significantly more compact, efficient, lighter and environmentally-friendly solution than the traditional alternative of electrical-battery systems.
'The variator weighs less than 5kg in these applications and provides a high level of mechanical efficiency, enabling the overall mass of the mechanical KERS systems to be minimised,' says Chris Greenwood, technology director at Torotrak. 'This mechanical efficiency, combined with the variator's ability to change ratio very rapidly, helps to optimise flywheel performance.'
The two companies consider that the system is applicable to other motor sports and everyday vehicles and see the potential for wider applications - particularly on high-performance road cars - as an aid to performance and also as a means of developing future products with reduced CO2 emission levels.
The system supports the current trend in powertrain design for engine downsizing, by providing a means of boosting acceleration, overall performance and economy independently of the vehicle's engine and without the need for complex electrical-battery hybrid architectures.
A CVT-controlled flywheel is particularly suited to stop-start driving situations when real-world fuel economy is often at its worst. In these conditions, the variator-flywheel system can assist the launch of a vehicle which has slowed down or come to a standstill, by utilising the kinetic energy stored in the flywheel. In heavily congested traffic, where a car is frequently stopped and restarted, the system can help alleviate the heavy fuel consumption and emissions of greenhouse gasses normally associated with these conditions.
For the F1 applications, the stored kinetic energy can be applied by the driver on demand whenever required - at a rate and for a time period set by the regulations - to boost performance for rapid acceleration. The device is particularly beneficial when exiting corners or for tricky overtaking manoeuvres.
'The mechanical efficiency, compactness and mass of the variator system is critical since it directly influences the size and the ability to package such as system into an F1 car, or into a road vehicle,' says Adrian Moore, technical director at Xtrac. 'The size, torque capacity and response of the unit is critical to take the full advantage of having a flywheel KERS system.'
Arbuthnot (brokers) - Latest Report on Torotrak
Acknowledgements to Arapahoe on the iii board for this piece :-
"Unfortunately I don't have access to the full report.
Regards
Arapahoe
"We initiate on Torotrak today with a Buy rating and 55p price target. Torotrak has developed and owns the rights to an infinitely variable transmission. After failing to deliver on IPO (1998) promises for the premium automotive market, in 2003 new management was brought in. This team has developed a strategy to broaden its markets which is now starting to deliver tangible results, with production already started at its JV in the US, and it expects to announce final commercial terms with a key Asian OEM by October 2007. Our valuation is conservative in that it assumes no long-term incremental return on development expenses and our report, "New strategy delivering results" (52 pages) is published today"."
Thanks hebgb I have done as you suggest
Lhasa,
The last sentence in your excellent heading reads:
Aisin (the world's biggest transmission manufacturer) have had for some time a task force of 60 engineers developing the transmission for a major, but as yet un-named, Japanese car manufacturer.
May I suggest this could be modified to take account of the wording in this year’s Finals:
Our work with Aisin has, more recently, involved us in direct discussions with Aisin's principal customer, a global vehicle manufacturer, as we have jointly progressed the development of the transmission for their target vehicle.
As it’s common knowledge that Aisin’s principal customer is Toyota, Torotrak have in effect now stated publicly for whom this work has been carried out.
Regards,
hebe
Preliminary 2007 Results Presentation
To download and read the 2007 Preliminary Results Presentation as presented to Institutional Shareholders and (separately) a small group representing the TPSA (Torotrak Private Shareholders Association), go to http://www.torotrak.com/Investor/Information/Presentations.htm and click on the appropriate link.
It is well worth a read.
Firm signs big Asian gear deal
A South Ribble technology firm has signed a deal to sell its gearboxes to a major Asian car-maker.
Torotrak plc, which is based on Aston Way, Leyland, [England] confirmed it had penned a 'memorandum of understanding' with the unnamed Far East firm, which it said had secured "a strong relationship" with the manufacturer.
Chief executive Dick Elsy said the company was looking to cash in on a push toward more environmentally-friendly products in emerging economies.
The firm saw revenues rise to £2.7m for the year ended March 31, up from £2.1m a year earlier, the pre-tax loss halved to £3.2m from £6.2m in 2006, and operating costs fell by £1.4m.
Mr Elsy said talks with the Asian car-maker were still at an early stage, and that a target date for the first production was yet to be finalised.
He said: "This development and new relationship represents a significant breakthrough in our automotive market place.
"Unlike their developed market counterparts, car companies in emerging economies are not encumbered with legacy investment in conventional technology, and they are keen to adopt new technologies to fuel their ambitious growth plans.
"For Torotrak this development will mean that we will have a new customer hungry to exploit its investment in our technology, and which is looking to proceed rapidly with a full engineering programme."
He said the firm had identified considerable opportunities in the "appetite from emerging economies to embrace new technology", and that its engineering services had contributed much to its strong financial results.
The firm also announced it was making considerable progress on a pilot project which could well lead to hundreds of thousands of its transmission systems being used in sit-on lawnmowers in the US.
The first parts for the Infinitely Variable Transmissions (IVTs) have already rolled off the production line at American firm MTD Holdings' factory in Leitchfield, Kentucky.
Technology behind the production is being led by a team of 60 engineers and designers from Torotrak's base in Lancashire. It will then be sold across the states by MTD.
LOL, Have a nice weekend Lhasa.
There there Sheriff, Have a lie down
and rest. You admitted you were wrong :) Only joking my friend but whatever they have said about you on the torvec thread is obviously all a foul untruth. I really hope that, if you want to be re-admitted to that thread, then I hope that it happens.
I have recently dared to question a few things there myself but so far only Torvecian has taken exception.
I have always found that one learns more by asking a few probing questions than by staying quiet.
Incidentally feel free to ask here anything you like about Torotrak and I will do my best to answer (or hebgb will I'm sure). You might even go mad and buy a few Torotrak shares. Check the Board Info stuff here and see how thw price has climbed since the Annual Report came out.
Lhasa, Here is the post I was referring to. I was wrong. Dread is correct.
Posted by: dread50above
In reply to: trucker who wrote msg# 4468 Date:12/15/2005 4:56:19 PM
Post #of 11628
That is an advantage of paid iHub subscriptions - the ability to send Private Messages to other posters at any time. They show up in your "Mailbox" above.
(Hey, someone has to keep iHub in business!)
Thanks for taking the trouble to post here
Others say they are lurking and watching but without any feedback it is quite hard to maintain one's momentum and interest.
To those lurkers, whom I suspect are mainly Torvec shareholders, I would suggest that you read the whole of Torotrak's Results and compare and contrast with the paucity of information that one gets via the 3 monthly Filings for Torvec in the NASDAQ OTC system.
Torotrak's full report, all 24 pages, can be downloaded in pdf format from the company's web site. Go to :-
http://www.torotrak.com and follow the links under What's New to the Preliminary Results
There is an enormous amount of detail in that report which give me real encouragement for the company's future.
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