Altigreen Wins Most Significant Innovation Award for its Hybrid Technology in Germany
MAY 12, 2016 — Bangalore based Altigreen Propulsion Labs joined the elite group of innovators by winning the IDTechEx Europe 2016 award for the Most Significant Innovation in Electric Vehicles. This award is given to the most significant new innovation in hybrid or pure electric vehicles and includes innovations in components and systems within the vehicles.
The award was presented at IDTechEx Europe 2016 in Berlin, Germany, judged by an independent panel of electric vehicle (EV) industry experts, in recognition of Altigreen’s proprietary technologies that will democratize the use of hybrid electric technologies in the emerging economies of the world where high vehicular density forces poor mileage and huge tailpipe emissions.
“Altigreen has developed hybrid technology that can lead to both retrofit and production solutions for many types of vehicle. It is designed to be very affordable and versatile – a breakthrough for emerging countries in particular.” said IDTechEx Chairman Dr Peter Harrop.
Dr. Amitabh Saran, founder/CEO of Altigreen, added that his company’s patented technology converts fossil-fuel vehicles to greener electric hybrids, increasing mileage by 20% and reducing emissions by a similar amount, without any external charging.
Speaking on the occasion, Mr. Sudhakar Gande, Managing Director of Jupiter Capital, the institutional investor in Altigreen said, “Altigreen presents a ready solution for policy makers in developing economies to reduce vehicular emissions as well as fossil fuel consumption. It is the right time for central and state governments to adopt such innovative and disruptive technologies through public private partnerships to address burning environmental challenges.”
“With the developing world choking under intense air pollution, Team Altigreen stepped in to provide affordable, green, cutting-edge technology built specifically for local drive profiles and environmental conditions. We are delighted to be bestowed this honor by the IDTechEx panel,” said Saran.
Established in 1999, IDTechEx provides independent market research, business intelligence and events on emerging technology to clients in more than 80 countries. IDTechEx is headquartered in Cambridge UK, with bases in Boston and San Jose in the USA; Berlin, Seoul, Taipei and Tokyo.
About Altigreen Propulsion Labs
Headquartered in India, Altigreen is a Bangalore based startup engaged in research, design and development of proprietary hybrid and electric vehicle technology for the emerging economies of the world. With multiple global patents and industry awards, it is ably supported by a strong India-US engineering team and an advisory panel of cross-domain industry experts.
About Jupiter Capital Pvt Ltd
Jupiter Capital is a leading Investment and Financial services firm headquartered in Bangalore, in 2005. Jupiter Capital has extensive experience with Global public and private investments through Acquisitions, Leveraged Buyouts, Direct Investments into Recapitalization transactions, Joint Ventures and Restructuring. The firm and its team has extensive experience and exposure to Technology, Aerospace, Media, Music, Entertainment, Hospitality and Infrastructure to name some.