Monday, January 10, 2011

Hybrid Car Engines developers Raises £500,000

Bladon Jets, a British developer of micro gas turbine engines for cars and power generation, has raised £500,000 ($786,100) in a recent funding round led by the Oxford Investment Opportunity Network (OION), a European technology investment network.

Bladon Jets is working with car manufacturer Jaguar Land Rover to develop a micro gas turbine engine to insert in plug-in hybrid cars.

In a statement Bladon explained that its batteries provide 50 plus miles (80 kilometers) of electric range. Bladon jets-powered cars are also capable of travelling longer distances when using an on-board power generator that charges batteries when cars are moving.

Indian industrial group Tata recently made an undisclosed investment in Bladon Jets for a minority equity stake.

In a prepared statement Chairman of Bladon Jets, Paul Barrett, said: “We want to establish micro gas turbine engines as the range-extending power source of choice for hybrid car manufacturers,” he said. Barrett added: “There is also significant potential for our micro gas turbines in combined heat and power units and other small-scale power generating units, not least in India.”

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