Fuelactive wins technical innovation of the year award
Cardiff-based clean fuel delivery developer FuelActive has become a Gold Stevie winner, for Technical Innovation of the Year, at the 2021 International Business Awards.
The Inteide, public and private, for profit or non-profit and of all sizes. The 2021 IBAs received more than 3,700 entries, from 63 countries and territories. The Stevie Award winners were judged and scored by over 260 executives worldwide and the winners celebrated during a virtual ceremony on December 8th.
“What we’ve seen in this year’s IBA nominations is that organizations around the world, in every sector, have continued to innovate and succeed, despite the setbacks, obstacles and tragedies of the ongoing COVID-19 pandemic,” said Stevie Awards president Maggie Gallagher.
“All of this year’s Stevie Award winners are to be applauded for their persistence and their resilience.”
The company’s patented fuel pick-up system delivers increased machine uptime, a reduction in fuel consumption and harmful exhaust emissions, lower component replacement costs, increased productivity and peace of mind for transportation, construction, mining, agriculture, pumping and power generation equipment providers worldwide
FuelActive’s CEO Nick Massey commented: “Being recognised as a global leader in technical innovation, is a real validation of the work that our engineering and development team have put into the product over the last few years. We are being recognised by our customers in the field, as a technical solution provider for manufacturers and end users, in a wide range of applications across the globe.”
As the rapidly expanding business continues to grow its presence in markets across the world, FuelActive has recently raised additional equity, to fund further development, through a follow-on investment route led by Adjuvo. FuelActive has seen revenues rise by over 250% and, to meet this growing demand the company has doubled its workforce in the last 12 months.
The business has also been recognised, with the awarding of a further Innovate UK government-backed grant, for development of its fuel pick-up and delivery systems, as the company develops telemetry solutions.
“Despite the global industrial upheaval caused by the COVID-19 pandemic, we have continued to grow, serving customers in markets across the world,” said Massey. “Our technical solution is delivering proven results, preventing downtime and reducing fuel consumption and emissions for customers. Further developments will provide new ways to help increase uptime and to maximise machine utilisation.”