Talga Resources (ASX:TLG) - Managing Director, Mark Thompson - The Market Herald
Managing Director, Mark Thompson
Source: ABC
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  • Talga Resources (TLG), has been approved for Innovate UK co-funding to develop an e-axle solution for Bentley Motors
  • Talga will receive over $400,000 in quarterly instalments to develop graphene materials for high performing electric motor windings
  • This is aimed at replacing copper windings to reduce vehicle weight and improve performance in hybrid and electric vehicles
  • The e-axle concept aligns with the increasing demand for sleek and sustainable electric cars
  • Talga is up 9.38 per cent and shares are trading for 35 cents each

Talga Resources (TLG) has been approved for Innovate UK co-funding to support the development of an e-axle designed for Bentley Motors.

The e-axle concept combines an electric motor, power electronics and transmission into a compact, cost-attractive electric drive solution for hybrid and electric vehicles. The increasing demand in electric vehicles is a key factor in the growth of the e-axle market.

Automotive manufacturers are focused on the e-axle concept as a way to reduce vehicle weight and improve performance.

Innovate UK will fund roughly £3.6 million (approximately A$6.8 million) for the OCTOPUS project.

Out of this funding, Talga is eligible for about £224,000 (roughly A$424,400), which represents approximately 70 per cent of Talga’s total contribution, to be provided in quarterly instalments until the funding period ends in 2022.

Late last month, the battery anode and graphene additives provider announced it would be part of the OCTOPUS project. This aims to deliver the 'ultimate' single unit e-axle solution designed to meet Bentley Motors' performance specifications through optimised motor and power electronics technology and materials.

The project is funded under the Office for Low Emission Vehicles' and Innovate UK's "IDP15: The Road to Zero Emission Vehicles" competition.

"We are delighted to engage in jointly developing Bentley Motors’ e-axle concept with our consortium partners and are honoured to have earned Innovate UK’s continued support," Managing Director Mark Thompson said.

Under the project, Talga will develop and provide graphene materials for the high performance electric motor windings to deliver an aluminium-based solution aimed at replacing copper windings that are currently used.

"For automotive manufacturers, this could reduce vehicle weight and increase performance, safety and driving range while retaining sustainability and economics," Mark added.

Talga is up 9.38 per cent and shares are trading for 35 cents each at 12:29 pm AEST.

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