Paris (ots/PRNewswire) - Valeo today announced the signing
of a contract with OSEO, the French state financing group dedicated
to supporting innovation, for 61 million euros in funding for its
research program LOwCO2MOTION(R), which aims to improve vehicle
engine efficiency and contribute to reducing CO2 emissions.
This funding, granted by the French Industrial Innovation Agency
(Agence de l'Innovation Industrielle, AII) which is now part of OSEO,
was authorized by the European Commission on June 17.
Thierry Morin, Valeo Chairman & CEO, commented: "This funding is
recognition of the work Valeo is doing to significantly reduce the
CO2 emissions of vehicles. Global warming and high oil prices make
this a priority for the automotive industry and Valeo is leading the
development of technology solutions in this field."
The LOwCO2MOTION(R) program represents a total investment of
211.6 million euros over the period 2007-2011. Under the contract
signed with OSEO, Valeo will receive 54.8 million euros (19 million
in direct subsidies and the rest in repayable short-term loans).
Valeo's partners are: PSA Peugeot Citroen, Batscap, IFP (Institut
Francais du Petrole) and INPG (Institut National Polytechnique de
The program focuses on two major innovations. The first is the
camless system, in which the camshaft in engines is replaced by
electromagnetic actuators that operate each valve independently. By
controlling residual gases, minimizing pumping losses and
deactivating cylinders and valves, this technology reduces fuel
consumption and pollutant emissions by 20% for gasoline engines. It
also provides enhanced performance and driving comfort due to an
increase in low-end engine torque. A version for diesel engines will
also be developed.
The second major innovation, totally compatible with the camless
system, is a next-generation mild hybrid based on Valeo's StARS+X
technology. In addition to the Start-Stop function which cuts off the
engine when the vehicle is at a standstill, this system features a
regenerative braking function, where energy generated during braking
is recovered. The program includes the development of a new
high-efficiency, high-power alternator technology as well as
ultracapacitors, enabling a 10 to 15% reduction in fuel consumption.
These innovations will be enabled by new mechatronic technologies
which are also part of the program.
Valeo is an independent industrial group dedicated to the design,
production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive
suppliers. The Group has 125 production sites, 62 R&D centers, 9
distribution platforms, and employs 61,300 people in 28 countries.
For more information about the Group and its activities,
please visit our web site http://www.valeo.com
For all additional information, please contact:
Antoine Balas, Corporate Media Relations
Remy Dumoulin, Investor Relations
ots Originaltext: Valeo Management Services
Im Internet recherchierbar: http://www.presseportal.ch
For all additional information, please contact: Antoine Balas,
Corporate Media Relations, Tel: +33-1-40-55-29-36; Rémy Dumoulin,
Investor Relations, Tel: +33-1-40-55-29-30