Bowman Power Group
Bowman Power makes exhaust energy recovery technology that addresses two of the big issues facing the world: reducing C02 emissions and improving fuel consumption. Founded by serial technology entrepreneur Tony Davies in 2004, Bowman was created to exploit a smart discovery: a low-cost way of recovering energy from exhaust fumes. Initially Davies believed heavy vehicle engines would be the ideal target market. But following the credit crunch in 2008, when vehicle R&D budgets were slashed, the company took a different tack.
“We believe we can grow turnover to more than £50 million in the next five years”
Dr. Toby King, CEO, Bowman Power Group
Dr. Toby King, who came in as Chief Executive Officer in 2010, when Tony Davies retired, explains: “We have now moved almost completely into the stationary power generation sector. An important market for us is customers that want power, but are not on the grid so can’t get it the traditional way. For example, a gold mine in Australia has huge diesel generators to provide their energy needs, and we can reduce their diesel bill by about eight per cent. That might not sound much, but when your diesel bill is $20 million a year, it is significant.
“Another big market for us is German farmers, many of whom put their waste, ranging from cow dung through to crop waste, into an anaerobic digester that turns it into biogas. That biogas can be converted into heat for the farm animals, but also into electricity to be sold back to utility companies. Our turbo generators increase the efficiency of this process, meaning farmers can sell more electricity back to the grid.
8% - The amount that Bowman Power can reduce the diesel bills of companies using huge diesel generators
“We currently have about 65 people and manufacture our turbo generators in Southampton, Hampshire, even though all our customers are outside the UK. We have concentrated hard on quality and cost. In a year, we reduced the build cost of our product by a third and improved its reliability dramatically.
“There is a huge scope for growing our business – so far we have penetrated less than one per cent of our target market. We believe we can grow turnover to more than £50 million in the next five years, trebling our workforce in the process.
- Region: SE England
- Sector: Electronic Manufacturing