UK-based engineering company Perpetuum has secured an investment from the Rail Supply Growth Fund to advance the development of its self-powered rail condition monitoring system.
The £3m investment, the second fund the company receives from the Rail Supply Growth Fund, will also be used to increase capacity, client base and create new jobs at Perpetuum.
Perpetuum has already used part of the investment to create 32 new knowledge-intensive positions to take its total workforce to 60. The company also plans to support new research and development activities.
Perpetuum CEO Steve Turley said: “At Perpetuum, we’re focused on revolutionising the rail industry by helping clients to improve performance and efficiency, minimise disruptions and deliver seamless passenger experiences, while also benefiting from significant cost savings.
“Over the past few years, we’ve generated real momentum, with more clients and industry partners recognising the potential of our conditional monitoring technology. This investment from the Rail Fund will help us to maintain this momentum, refine our technology and pursue more business to accelerate growth.”
Perpetuum’s self-powered wireless rail monitoring system is designed to help clients improve the reliability and safety of rail delivery and reduce operational and maintenance costs by generating relevant data.
The system is developed to use specially designed wireless sensors to check and report the condition of key functions, including wheels, bearings and gearboxes, as well as the status of the track and passenger ride quality.
Using real-time data, the system can help users react quickly to actual and developing problems.
It is also capable of transforming vibrations from trains into energy to facilitate a self-sustaining, cost-effective operation compared to battery and line-based systems.
Perpetuum was established in 2004 as a spin-out of Southampton University. The company currently serves various clients, including ScotRail, Great Northern, Southeastern Railways, SJ Swedish railways and Transport for New South Wales.