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Battery-firm Dukosi in Asia eco-car talks

A BATTERY efficiency specialist is in talks with car makers and investors in Asia who believe technology developed in Scotland could play an important role in the electric vehicle revolution.

OPPORTUNITY: Gordon Povey, chief executive of Dukoski, aims to play a part in the expected electric car revolution.
OPPORTUNITY: Gordon Povey, chief executive of Dukoski, aims to play a part in the expected electric car revolution.

Edinburgh-based Dukosi is in discussions with two manufacturers in China who are interested in using the technology the company has developed, which it says can provide a major boost to the electric vehicle efficiency.

Chief executive Gordon Povey said both firms could become high-volume buyers of its systems, which it says can help extend the range vehicles cover on a charge by 15%.

Dukosi is also talking to Asian investors who may support a £1 million funding round the company expects to complete this year ahead of the expected commercial launch of products in 2015.

Mr Povey said the talks reflected strong interest in Asia in the emerging electronic vehicle market.

Manufacturers of cars and components are positioning themselves to cash in on what is expected to become a multi-billion pound global market.

"The markets are massive there and the uptake of electric vehicles is much higher," said Mr Povey, who took charge of Dukosi following the death of the young Scottish entrepreneur who founded the business.

Speaking after Google launched a driverless car that generated massive interest worldwide, Mr Povey highlighted the opportunity for Scottish firms to build positions in markets that are evolving rapidly.

"If you look at the Far East there's a lot of new names and brands. They don't have this legacy and they want to have the best systems in their vehicles," said Mr Povey.

A serial technology entrepreneur, Mr Povey believes Dukosi could be generating annual revenues in the tens of millions of pounds by 2020.

He believes other firms in Scotland could achieve similar success in the electric vehicles market.

While Mr Povey does not expect there to be a resurgence of car-making in Scotland, he thinks firms in the country could find lucrative opportunities in the markets to supply technologies used in the vehicles of the future.

Noting Scottish strength in areas like informatics, he said: "Putting the smarts into things, I think Scotland has got a lot to add to that."

He praised Scottish Enterprise for the support it has provided to emerging firms in such areas.

Mr Povey said Dukosi had made good progress since raising £320,000 from The Par Equity venture capital firm and the state-funded Scottish Investment Bank in March.

The company is talking to firms who are interested in participating in trials of its Electric Vehicle Optimisation Integrated Circuit.

The company started developing technology in this area while it was run by its founder Stephen Chur-cher who died in a cycle accident lastAugust aged 46.

Mr Churcher specialised in integrated circuits after graduating from the University of Edinburgh, where he achieved first-class honours in Electrical and Electronic Engineering in 1989.

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