FPT INDUSTRIAL TO ACQUIRE DOLPHIN N2 STARTUP TO DEVELOP DISRUPTIVE POWERTRAIN TECHNOLOGY
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.