Turntide Technologies is a Sunnyvale, California startup that develops sustainable technologies that lower energy consumption and operating costs. Its specialty is in building electric motor systems. It's on a mission to lead the way in achieving 100 percent renewable energy with a revolutionary switched reluctance motor system. It aims to become a part of the transitional process away from fossil fuels. This is a company that merits watching as it is a player in the emerging movement to create a world that works to reduce the carbon footprint left on the planet from our attempts to provide sustainable renewable energy sources. Here are 20 things you probably didn't know about Turntide Technologies.
1. Turntide Technologies is listed under four industry categories
According to Crunchbase, Turntide Technologies is a versatile company that crosses over four industry categories. It is an Industrial Automation business that specializes in Clean Tech, Green Tech, and Energy Efficiency. The goals of this startup are in line with clean and renewable energy sources and joining in the effort to reduce the impact that energy has on the planet.
2. It goes by a few different names
Turntide Technologies, Inc. is the legal name of the company, but it has been called a few different names. It is also known as simply Turntide, Software Motor Company, and SMC. When researching the business you might run into any of these names, but they're all the same company.
3. Turntide Technologies has three co-founders.
The founders of Turntide Technologies are Mark Johnston, Piyush Desai, and Trevor Creary. They bring decades of experience in business, research, and motor design engineering to the table. These three executives realize that there are better ways to provide the necessary power to sustain agricultural and other types of businesses that are less harmful to the environment. Together, they developed a tech company that emphasizes moving from fossil fuels to electric-powered equipment, thus, turning the tide from dirty energy sources to a cleaner and greener industry.
4. Turntide Technologies has a six-member executive leadership team
The executive team that leads Turntide technologies includes six dynamic members. Ryan Morris is the executive chairman and chief executive officer. He is leading the crew at Turntide Technologies. Mark Johnston is a co-founder. Piyush Desai is vice president of the company and co-founder. Trevor Creary is the chief technology officer and co-founder. Brak Surak is the chief product officer. Mimi Spier is vice president of product marketing and growth strategy.
5. The board of directors at Turtnitde is small
Turntide Technologies is a tech company that has a board of directors that has only one member. Sean Simpson joined the board as an observer in 2020. Mr. Simpson brings years of experience in business and clean and renewable energy. he is a director at WIND Ventures who has also served as an investment manager at General Motors Ventures previously. He founded and led a company called AutoBike, an electronic automatic shifting system for bicycles company. He has years of experience in military defense and the automotive industry. He served as a lead engineer on powertrain development. He has a bachelor's in mechanical engineering and a master's of business administration degree.
6. Turntide's website uses complicated technologies
The website for Turntide Technologies actively uses 32 different technologies to power its site. Some of the technology products and services that are required include Google Apps for Business, Content Delivery Network, Apple Mobile Web Clips Icon, and several others. This kind of complex technology works behind the scenes to deliver a smooth and easy experience for visitors, but it is expensive. It contributes to tens of thousands of dollars in overhead IT expenses annually.
7. Turntide Technologies maintains a unique edge over its competitors
We learned that Turntide Technologies maintains its uniqueness in the industry with several registered patents secured on the intellectual property that powers its innovations. The company has secured twenty-two registered patents in the Generation Conversion or Distribution of Electric Power classification. In addition to these patents, Turntide has also secured nineteen registered trademarks in the scientific and electric apparatus and instruments category. These are technologies that cannot legally be copied or imitated by others, which helps the business to provide products and services that are unique within the industry.
8. Turntide Technologies's web traffic is busy
The analytics for Turntide Technology's website shows that there is interest in the products that it produces from people across the globe. There is an average of 16,819 visits made to the site monthly. The latest trend shows that there has been a decrease in interest of 10.23 percent over past monthly averages. Based on the number of monthly visits to the site, Turntide Technologies has a ranking that places it as number 894,742 of the millions of websites registered on the world wide web.
9. Interest in Turntide Technologies is highest in the United States
Web traffic to the official Turntide Technologies site shows that ninety percent of the web traffic comes from people in the United States with a decrease in monthly visitors from this country of 4.1 percent over the past 30 days. Three percent of the traffic comes from Norway, with three percent from the United Kingdom. Two percent of visitors come from Pakistan and two percent from Indonesia.
10. Turntide Technologies is a late-stage venture capital-funded business
Turntide Technologies has participated in a total of 8 funding rounds. Investors have contributed a total of $432.1 million in funding so far, with the latest round closing June 30, 2021, in a Convertible Note round. A total of fourteen investors back the company with funding including Breakthrough Energy Ventures, JLL Spark, and several others. Investor confidence is high in Turntide.
11. Turntide Technologies acquired Riptide IO
Turntide acquired Riptide IO on March 1, 2021. Riptide IO is a company with a tool funding amount of $4.4 million. The business is based in Santa Barbara, California. It provides solutions for enterprises transitioning to an internet-based environment of integrated device management. Details of the acquisition and the cost of the transaction have not been disclosed for the tech firm.
12. Turntide Technologies acquired BorgWarner
On June 8, 2021, Turntide Technologies acquired a company called BorgWarner. The business is based in Auburn Hills, Michigan. it is an automotive supplier with a specialization in mobility solutions for the vehicle market that are sustainable and innovative. BorgWarner is a company that has made eight acquisitions before joining the Turntide Technology family. The cost of the acquisition and details have not yet been disclosed
13. Turntide Technologies acquired Hyperdrive Innovation
On June 8, 2021, Turntide Technologies completed the agreement for the acquisition of a company called Hyperdrive Innovation. This company is based in Newcastle Upon Tyne, in the United Kingdom. The business specializes in the development of innovative technologies for powering homes, businesses, and electric vehicles. The total amount of funding for Hyperdrive Innovation is $6.7 million, however, the cost and details of the acquisition agreement have not been disclosed. This transaction signals that Turntide Technologies may be moving into new geographic locations with ownership of companies that are outside of the borders of the United States. This is its first acquisition in Europe.
14. Turntide Technologies acquired Avid Technology Group
The most recent acquisition made by Turntide Technologies was completed on June 30, 2021. The company acquired a business called the Avid Technology Group. The business is based in Cramlington, Northumberland, United Kingdom. Before the acquisition, the company had a total funding amount of 10.4 million in British Pounds. Avid Technology group specializes in the design and manufacture of advanced thermal and smart electrified ancillary management systems. The gain of Avid Technology Group represents the fourth acquisition made by Turntide Technologies as well as its second agreement to acquire a company in the tech industry from the United Kingdom.
15. Turntide Technologies is expanding into new markets
According to Techcrunch, Turntide Technologies has plans to expand its operation into new markets. The CEO of the company, Ryan Morris stated that recent funding will allow sth company to explore the electrified transport market as one of its new interests. The $225 million in a convertible note recently received is the source of the new funding.
16. Turntide is leveraging its two UK-based companies
The recent acquisition of two British tech companies is part of Turntide's strategic plan to launch a new division within its operations. It appears that a new segment is in the works. It will be called Turntide Transport. The new operation will focus on producing modernized legacy motor systems for use in the commercial transportation industry. Development of a new powertrain platform including motor and connected intelligence, battery pack, and power electronics is in the works. Part of the most recent infusion of funds will be used to develop an energy consumption-reducing Smart Motor System that lowers consumption by almost 64 percent.
17. Turntide is moving out of the traditional market
Most of the electric motor industry has focused on developing cleaner technologies for powering passenger vehicles. The new focus of Turntide is set to be on other parts of the industry that deal with air cargo, shipping, freight trucking, high-speed rail, autonomous robots, and construction equipment. These are niches that have not yet received the attention from tech developers and there is a need to reduce the carbon footprint left by the power sources used in these segments of society and business. Turntide is considering ways to address the needs in these areas for creating electric energy sources that are sustainable.
18. Turntide is going Cloud
Part of the funding that was recently received by Turntide is earmarked for developing a cloud-based software platform. It's been projected that the new software platform will be released later in 2021. Turntide assumes that cloud connectivity is key to improving efficiency and for the integration of smart motor systems into various environments in conjunction with intelligent automation. The implications are immense and well researched. It's an expensive proposition that Turntide believes will pay off in the long run as intelligent controls can significantly cut down on energy consumption and eliminate the areas where waste is identified. Additionally, a focus on making the integrations user-friendly is a focus while plans move forward.
19. Turntide Technologies is hiring
According to LinkedIn, the current number of employees in the Turntide Technologies workforce is 230. These numbers are about to change. We were interested in learning more about plans for growing and expanding the infrastructure of the company and we saw that there are 41 new jobs open in the company. Active recruitment for several positions in Sunnyvale, and Santa Monica, California is underway. There are also jobs open for positions in Waterloo, Ontario, Canada, which suggests that Turntide is preparing to enter the Canadian market. There are also a few positions open in Atlanta, Georgia. Many of the Canadian job openings are for executive leadership positions, indicating that there is going to be a strong presence for Turntide Technologies in the country of Canada.
20. Turntide Technologies is a privately held company
Many investors continue to eye Turntide Technologies as a potential investment, however, it is still a privately owned business. Turntide executives are maintaining its private ownership with no discussion on filing an IPO. So far, the enterprise is thriving under its current system for raising the necessary funds for growth, operation, and expansion of its operations. You won't find Turntide Technologies on any of the public stock exchanges because it's not a publicly-traded company. Although many investors wish it was available, for now, it is funded by private investors. The outlook for the success of Turntide Technologies is sunny. It is gearing up for yet another growth spurt. It's wise to keep an eye on the business in case things change with its ownership status but it's not likely to happen anytime soon.
Written by Allen Lee
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