ULTra System to receive £7.5 Million Investment from BAA

ULTra System to receive £7.5 Million Investment from BAA

[Posted on 28 October 2005]

Advanced Transport Systems Ltd (ATS) has developed the ULTra system, a revolutionary form of on-demand driverless travel, providing low cost and sustainable transport. In addition to their investment, which is in exchange for 25% of the company?s shares, BAA is planning to fund a pilot scheme at their busiest airport, London Heathrow.

ATS Chairman, Trevor Smallwood commented, ?we are delighted that BAA are going to be long term partners in this exciting new transport technology?.

The concept was initially developed by the Advanced Transport Group at the University of Bristol. With the company valued at around £30 million it is one of the highest value stakes that the University has in any of its spinouts.

Professor Martin Lowson Chief Executive of Advanced Transport Systems said ?ATS have a world lead in this new industry. This investment will allow us to complete the final production and commercialisation phases of the project. We are delighted to be able to demonstrate the practical value of spinout opportunities from the University.?

Electrically powered, the award winning ULTra system will enable substantial environmental benefits, using 70% less energy per passenger km than a car and with zero emissions in town. In addition, 95% of all ULTra passengers will have a waiting time of less than 1 minute, even at peak times.

www.atsltd.co.uk

- Ends -
Notes for editors:
- For further information, see www.bris.ac.uk/research

- NESTA (National Endowment for Science, Technology and the Arts) has made an award to ULTra under their highly competitive invention and innovation programme.

The University of Bristol is committed to combining its excellence in research and innovation with a vibrant enterprise culture. The University is working with government, industry and other partner organisations to encourage the growth of knowledge-based businesses in the South West. In particular, Bristol has joined forces with the universities of Bath, Southampton and Surrey to establish the SETsquared Partnership to encourage enterprise, build new businesses and work more effectively with industry. As research-intensive universities, these enterprise activities derive from their research base, although support is also available to entrepreneurs from outside of the universities. With a combined research staff of 6,400 and research budget of £266 million, the resulting contribution to the UK ?knowledge economy? is far greater than could be achieved individually. The partnership offers:
· Enterprise training and education
· Support for new businesses from within and external to the universities
· Access to innovative research that could lead to new products and processes

For further PR information contact:
Sadia Haq, Research & Enterprise Development, University of Bristol, Senate House, Tyndall Avenue, Bristol BS8 1TH
tel: 0117 928 8676, e-mail: sadia.haq@bristol.ac.uk