Octopus Ventures has invested £1.83m into Bowman Power, a Hants-based developer of power generation technology that increases the performance of standard diesel and petrol engines.
Bowman Power’s core product is a turbo generator that recovers waste heat from engines in order to boost their power and efficiency while reducing their emissions.
According to Octopus Ventures, Bowman Power is the first company worldwide to emerge with economical, production-grade solutions to turn waste heat in exhausts into electrical power.
Bowman’s recent business wins include a four-year contract to supply 2,000 production turbo generators to two German partners, Schnell and Burkhardt, in the power generation sector. The company also has development contracts with six vehicle OEMs in the transport sector.
‘The company [Bowman] demonstrates a very high standard of engineering excellence and has the most technologically advanced, most commercially developed offering in the market,’ said Luke Hakes from Octopus.
The deal with Bowman Power represents the 14th investment Octopus has concluded this year.