FPT Industrial to acquire Dolphin N2 startup to develop disruptive powertrain technology
December 19 2019 - 7:00AM
London, December 19, 2019
FPT Industrial, the global powertrain brand of
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI), today announced
its agreement to acquire 100% of Dolphin N2, a startup specialized
in innovative internal combustion engine technology, and a spin-out
company from Ricardo plc (LSE: RCDO) – a global and strategic,
technical and environmental consultancy company specialized in the
transport, energy and scarce resources sectors.
With this acquisition, FPT Industrial aims to
advance this expertise, substantially increasing fuel efficiency
while reducing operating costs and CO2 emissions, initially for
long-haul trucks and other heavy-duty applications. This technology
could also be extended to other industrial segments across the
complete power range, and will be suitable for all fuels, with ad
hoc configuration for a range of liquid fuel and gas
applications.
“The future of the powertrain industry will be
characterized by an increasing drive towards reduced environmental
impact and increased efficiency,” said Hubertus Mühlhäuser, Chief
Executive Officer, CNH Industrial. “With this acquisition FPT
Industrial is further confirming its leading position in providing
market-ready alternative propulsion solutions. Furthermore this
will enable us to accelerate the integration of this disruptive
technology into our commercial portfolio.”
“FPT Industrial is the ideal partner to take our
proven and patented technology to the next level, delivering to the
market advanced solutions, which we are sure will revolutionize the
industrial propulsion world,” said Simon Brewster, Chief Executive
Officer of Dolphin N2.
CNH Industrial
N.V. (NYSE: CNHI /MI: CNHI) is a global leader in
the capital goods sector with established industrial experience, a
wide range of products and a worldwide presence. Each of the
individual brands belonging to the Company is a major international
force in its specific industrial sector: Case IH, New Holland
Agriculture and Steyr for tractors and agricultural machinery; Case
and New Holland Construction for earth moving equipment; Iveco for
commercial vehicles; Iveco Bus and Heuliez Bus for buses and
coaches; Iveco Astra for quarry and construction vehicles; Magirus
for firefighting vehicles; Iveco Defence Vehicles for defence and
civil protection; and FPT Industrial for engines and transmissions.
More information can be found on the corporate website:
www.cnhindustrial.com
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Media
contacts:
Laura Overall Corporate Communications
ManagerCNH Industrial Tel. +44 (0)2077 660
338
E-mail: mediarelations@cnhind.com
- 20191219_PR_CNH_Industrial_Dolphin_Acquisition
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