November 18 saw the Business Magazine’s 12th annual Thames Valley 250 awards, where Xtrac were recognised and rewarded in the Innovation category for their ILEV (Integrated Lightweight Electric Vehicle) transmissions.
With markets moving from ICE (Internal Combustion Engine) towards hybrids and EV’s, the development and innovation activities of these highly efficient and power dense units, is ever more important in the drive towards decarbonisation of transportation, as we strive towards reducing carbon footprints and worldwide emissions.
CEO Adrian Moore receiving the award on behalf of Xtrac, remarked, “The automotive industry is currently in a transition period from internal combustion engines to hybrids and electric vehicles. As a transmission supplier, we are right at the forefront of that transition. A lot of our work is on electric vehicles for motorsport or high-performance cars and in 2020 we received a Queen’s Award for Innovation for our lightweight electric vehicle gearbox”. Moore continued saying, “Our work didn’t stop during the pandemic and our factory stayed open. Motorsports paused for a few months, but Formula One and NASCAR in the US soon came back. We also scaled up our production capability to make thousands of components for Covid-19 ventilators.”
The TV250 judge’s commented that, “Our winner scored strongly in all areas, demonstrating their passion for innovation, and providing evidence of successful innovative projects, with both short- and long-term objectives. Not only have they made an impact within their own industry, but they’ve also shown remarkable agility and compassion, helping in the fight against Covid-19 by providing masks to local care homes and participating in the Ventilator Challenge UK initiative.”
The Thames Valley 250 awards recognise the top-performing 250 privately-owned businesses (by annual sales turnover) that are headquartered in the Thames Valley region of the UK.
The listing is compiled and published by The Business Magazine, using recognised data sources such as Companies House and Fame. To be considered for the listing, businesses need to be headquartered in the region – defined as all of Oxfordshire, all of Berkshire, West Surrey, North Hampshire, and parts of Buckinghamshire.