Sprint Power has expansion in sights despite industry challenges
Sprint Power has announced plans to double its recent growth in the next 12 months despite a challenging automotive industry backdrop and the ongoing impact of the global Covid-19 pandemic.
The ambitious growth target follows a hugely successful 2020, which saw the company grow fivefold with revenues over £5 million. Having won key projects from automotive and motorsports customers, Sprint Power is planning to broaden application of its advanced technologies across new sectors, including marine, off-highway vehicles, defence applications as well as static power infrastructure.
Last year Sprint Power overcame the skills shortage crisis currently hampering UK engineering by expanding its team by 50% to include globally renowned technical experts in the fields of power electronics, powertrain electrification and battery management systems as well as advanced energy storage development. The company will continue to boost its world-class engineering teams this year with the aim of achieving another 50% headcount increase and, as a result, expanding its existing high-tech workshop and office in Birmingham.
Founder and CEO of Sprint Power, Richie Frost, commented: “We are riding high on the momentum created within the business over the last 12 months and have grown into one of the leading electrification and electrical integration experts in the UK, thanks to a team of 60 highly-skilled engineers. We are ready to embark on the next stage of our journey – further growth and expansion into new markets. It’s a really exciting time to be part of the Sprint Power team.”
Last year, Sprint Power was announced as a technical partner to the Gordon Murray Automotive T.50 hypercar, taking responsibility for designing, building and integrating the advanced electrical systems for the project. The company has also won two grant-funded projects from the UK government, involving the development of wireless charging platforms for electric vehicles. It also achieved the ISO 9001 quality management certification.
To help meet the changing market demands and customer requirements, Sprint Power has invested over £500,000 in upgrading its state-of-the-art premises, adding an electronics lab with advanced testing equipment including climatic chambers, dynamic power supplies and dynamic load banks. A lab car rig was designed and built in-house, helping engineers to rapidly prototype and validate electrical systems and circuits.