This investment builds on the success of our fantastic team with our customer base of blue chip vehicle manufacturers and operators across the world, and I am looking forward to working with the NVM team.
Avid Technology Group .
AVID Technology Group (AVID) is a leader in the design and manufacture of electrified vehicle powertrain systems.
AVID’s innovative technology is used by many leading vehicle manufacturers to improve the efficiency of their diesel engine products and enable their high performance electric, hybrid and fuel cell vehicle powertrains. AVID has also retrofitted its Micro Hybrid System, which has been shown in independent customer testing to improve the efficiency of buses and off-highway machinery by up to 10% to thousands of vehicles throughout the world.
Climate change and air pollution are major concerns of our time. The exhaust emissions and fuel consumption of Heavy Duty Vehicles such as buses and trucks are a major contributor to these issues and AVID is playing an important role in tackling these challenges. The company has become the go-to development partner for global vehicle manufacturers because of its innovative fully integrated solutions.
AVID was founded by award-winning entrepreneur Ryan Maughan and along with his ambitious management team has led its growth and development. NVM’s support combined with appointing Andy Hales as Chairman will see AVID continue to increase engineering and manufacturing capability and capacity at its Cramlington facility to meet the needs of its customers.
In October 2016 AVID Technology launched a new service for the fleet maintenance industry to help bus operators solve the ongoing quest for efficiency. AVID’s three new fleet service products; Smart Speed, Smart Shield and Smart Spanner, are designed to reduce costs, boost productivity and improve service delivery and safety.
AVID has a strong platform for growth. We have been impressed by the customer feedback and believe we have identified a business with an excellent leadership team. This investment demonstrates NVM’s commitment to supporting the growth of ambitious UK based companies, using our VCT funding and strategic expertise to create scale and sustainable value.