THE new owner of Scots hydraulic specialist Artemis Intelligent Power is to invest millions of pounds in a manufacturing facility at its base near Edinburgh.

Just two weeks after Danfoss acquired the majority shareholding in Artemis, the Danish multi-national has confirmed it will build a new 1,500 square metre plant at Loanhead to manufacture digital hydraulic pumps and motors for off-road vehicles such as excavators and wheel loaders. The firm said the investment will create an initial 30 highly-skilled jobs at Artemis, building on its current team of around 50, adding that there will be a further 200 jobs to come. And it declared the export-led Artemis, whose digital displacement technology is designed to reduce vehicle emissions, will be worth £100 million annually within a decade.

Eric Bretey, head of Danfoss Scotland, said: “Our first goal is for Artemis technology to be a key component in the $3.5 billion off-highway vehicle hydraulic machinery market.

“Vehicle manufacturers are asking for reliable, cost-effective solutions to reduce environmental impact and increase productivity, and Digital Displacement technology will provide just that. We estimate the emissions reduction of each Digital Displacement excavator will be the equivalent to taking 18 diesel family cars off the road. It is a technology which increases efficiency, reduces cost and pays for itself very quickly.

The systems developed by Artemis are deployed across a range of sectors, from rail and aerospace to off-road machinery.

Danfoss formed a joint venture with Mitsubishi Heavy Industries (MHI) of Japan to run Artemis after acquiring the majority of shares, with the Danish firm the controlling party. Artemis had been wholly-owned by MHI since 2010. Speaking on the day Danfoss announced the acquisition, Eric Alstrom, president of Danfoss Power Solutions, said the deal was “tremendously important” for the Danish company.