Kreis Consulting is promoting DriveTec, an enterprise investment scheme (EIS) that aims to raise between £750,000 and £1m to fund an innovative gearbox transmission system.
A gearbox transmission system enables a car engine to drive the wheels. In a normal car, the gearbox needs less power at certain points while driving, but the engine may go too fast or too slow. The means the engine works hard, uses up a lot of fuel and emits exhaust fumes.
DriveTec's electric power split (EPS) transmission hopes to overcome these deficiencies and the money raised through the EIS will be used to build a prototype, finance patent applications and meet marketing costs.
EPS is a system of sensors with an electric motor attached to work out the most efficient speed to power the wheels of a car. It could also cut fuel consumption by up to 30 per cent and reduce exhaust emissions because the car does not need to be revved so much.
Rival companies such as Torotrak have also been researching this area, but it uses a different approach to DriveTec. Torotrak aims to achieve fuel efficiency through a set of disc and rollers known as a variator. But DriveTec could have the edge because it adapts the gear system already used in cars.
The DriveTec EIS could be of interest to sophisticated investors with an interest in motoring and who are looking for the tax breaks that come with EIS investing. The returns are likely to be high if DriveTec's idea is successful. However, there could be many setbacks along the way and there is no guarantee that the technology will work in practice once a prototype is built.