It may look like an innocuous stack of wooden packing crates, but the above image has enormous significance for us and our growth story.
After resetting the strategy of the business at the beginning of 2021 to focus substantially on co-development of eTurbo Systems solutions with engine and turbocharger OEMs, and the move to new premises to establish the Turbo Systems Electrification Centre (TSEC) for advanced electric machines manufacturing and power electronics assembly, we have now reached the major milestone of launching series production at our Southampton, UK, site.
Following two years of setting up new facilities and advanced manufacturing process development and pilot production, we have now completed a volume capacity production demonstration under the close scrutiny of its first series production OEM partner. With specific focus on process controls and stringent quality control, all governed by its combined ISO9001, 14001 and 45001 business management system, we completed the rate demonstration with time to spare. Some of the output is shown in the image, following final pre-delivery inspection, packing and declaration to our partner that it's ready for collection.
This is a truly significant milestone in our journey, marking the move back into manufacturing and, importantly, a sustainable one backed by long-term supply agreements and close partnership. We look forward to transitioning other product co-developments, with a range of partners, into long-term manufacturing opportunities, securing our position as a key player in the advanced electric machines and power electronics sector - a sector central to UK industrial strategy.
We would like to take the opportunity to thank all the partners, suppliers and advisors who have supported us in the new strategy for the business and guided us to this point.
It may look like an innocuous stack of wooden packing crates, but the above image has enormous significance for us and our growth story.
After resetting the strategy of the business at the beginning of 2021 to focus substantially on co-development of eTurbo Systems solutions with engine and turbocharger OEMs, and the move to new premises to establish the Turbo Systems Electrification Centre (TSEC) for advanced electric machines manufacturing and power electronics assembly, we have now reached the major milestone of launching series production at our Southampton, UK, site.
Following two years of setting up new facilities and advanced manufacturing process development and pilot production, we have now completed a volume capacity production demonstration under the close scrutiny of its first series production OEM partner.
With specific focus on process controls and stringent quality control, all governed by its combined ISO9001, 14001 and 45001 business management system, we completed the rate demonstration with time to spare. Some of the output is shown in the image, following final pre-delivery inspection, packing and declaration to our partner that it's ready for collection.
This is a truly significant milestone in our journey, marking the move back into manufacturing and, importantly, a sustainable one backed by long-term supply agreements and close partnership. We look forward to transitioning other product co-developments, with a range of partners, into long-term manufacturing opportunities, securing our position as a key player in the advanced electric machines and power electronics sector - a sector central to UK industrial strategy.
We would like to take the opportunity to thank all the partners, suppliers and advisors who have supported us in the new strategy for the business and guided us to this point.
Our CEO, Paul Dowman-Tucker reflects on a couple of highlights from 2022, amongst many – and looks forward to growth in 2023.
Wow, what a year it’s been! As everything winds down for the festive period this week, I have been reflecting on what has been a simply outstanding year of progress for Bowman. We are now two years into our strategy reset and it is really starting to bear fruit in terms of our TorqIQ® technology finding application in new products and with new partners.
There have been many highlights, but I do want to focus on the two principal in-house programmes which have come to the forefront this year.
The first is the development of our StartIQ™ eCompressor. It was only one year ago, almost to the day, that the first notes were written as to the principal requirements for this product, with a first application target being accelerated load ramps for gas-fueled generators. From this clean sheet start, we had a first prototype running in our test cells by the end of March. This same machine, which I only asked to be a proof-of-concept demonstrator, is now operational on site with our lead customer having already demonstrated its ability to deliver a step-change in load ramp performance over 200 times. We have exciting plans to complete further operational trials early in the New Year ahead of official product launch. Beyond its first application the same machine has application potential for dynamic transient response improvement and, in addition to combustion engines, in applications for fuel cells and other systems with critical air handling requirements.
The second major highlight is the progress we have made with our Turbo Systems Electrification Centre. This is where we are developing new capability and capacity to realise the engineering solutions we develop as series products. Prompted by progress with one of our co-development products, we launched this advanced e-machine manufacturing capability development almost a year ahead of our strategic plan, and we are at an advanced stage in capital equipment purchase, process development and facilities. We will progress StartIQ™ into series production in this facility late in the first half of 2023, in parallel with co-developed products. This new manufacturing footprint enables us to offer our customers and partners everything they might need – as a one-stop-shop if you will – for turbo systems electrification.
At a business level we have achieved all our strategic and financial goals for the year and, with robust shareholder support, we are set for substantial growth in 2023. There are many projects already committed, with two further co-development partners engaged in recent weeks, and more still in the pipeline. We have several significant bits of news we hope to announce in Q1.
I couldn’t be more excited for the year ahead and what it will bring us and our partners. It remains only for me to thank our brilliant, hard-working and growing team, together with our customers, suppliers and other stakeholders.
So now, a short period of rest, reflection and quality time with family and loved ones. On behalf of the whole team at Bowman, I wish you a very Happy Christmas and best wishes for the New Year.