5th July 2016
NVM Private Equity (NVM) has invested £2.0 million as part of a £3.4 million funding round in AVID Technology Group (AVID), a leader in the design and manufacture of electrified vehicle powertrain systems that improve vehicle efficiency and reduce emissions. 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 in independent customer testing and shown to improve the efficiency of buses and off-highway machinery by up to 10% to thousands of vehicles throughout the world. The funding will increase engineering and manufacturing capability and capacity at its Cramlington facility to meet the needs of its customers.