Turbo Genset powers forward

New business in some of its major target sectors — most notably a breakthrough in the aerospace industry — and a sharp fall in its losses helped power technology specialist Turbo Genset deliver an upbeat set of interim financial results.

Turbo Genset, which was founded by a team from London’s Imperial College in 1993, boosted sales by 68 per cent to £0.95m and cut its losses by 21 per cent to £3.6m in the first half of the year.

The company designs and manufactures innovative power systems that provide local, controllable electrical energy across three market sectors: turbine-based and variable speed gensets, high-speed motors, and drives and power electronics.

Turbo Genset’s biggest recent success saw its shares rise by over 20 per cent after the company announced a $20m (£11m) contract to provide technology for the new Boeing 787 Dreamliner’s on-board fuel pumps. Their function is to fuel and de-fuel the aircraft, transfer fuel from the tanks to the main engine and jettison fuel when necessary. This was the firm’s first deal in the aerospace sector.