Future: Fast Forward partners, including POWER INNOTECH (GPAINNOVA Group), apply to the PERTE VEC with the aim of turning Spain into a European electric vehicle hub
The partners of Future: Fast Forward, led by Volkswagen Group and SEAT, S.A., have applied this week to the Strategic Project for Economic Recovery and Transformation program (in Spanish, PERTE) for the Electric and Connected Vehicle (in Spanish, VEC), with the ambition of turning Spain into a hub for electric vehicles in Europe. With 62 national and international companies —including POWER INNOTECH, a GPAINNOVA’s company specializing in high-performance power electronics— and benchmark firms from different sectors, it is the largest business grouping in the history of the automotive industry in Spain.
This country-wide project brings together companies from 11 autonomous communities (Andalusia, Aragon, Basque Country, Cantabria, Castile and León, Catalonia, Community of Madrid, Extremadura, Galicia, Navarre and Valencian Community), 61% of which are SMEs, and between them cover the entire electric vehicle value chain.
The project presented this week, in which PWC has collaborated, is formed of four main pillars. The core pillar, led by SEAT, S.A., and the Volkswagen Group, aims to electrify the Martorell and Pamplona factories. The second pillar of the business group’s project is the creation of the entire battery ecosystem for electric cars in Spain, ranging from lithium extraction in the mines to battery assembly, including a battery gigafactory in Sagunto (Valencia).
The third pillar includes the localization in Spain of essential components for electric vehicles, with the fourth including areas related to training, digitalization and the circular economy. Overall, the project covers the nine blocks of the Electric and Connected Vehicle PERTE.
First assembly of the Future: Fast Forward partners
Last Friday, the association held its first general assembly in Madrid with representatives from all participating members of the Future: Fast Forward project. Marc Riera, Director of Purchasing Strategy and New Projects at SEAT, S.A., has been appointed President of the Future: Fast Forward grouping general assembly. This representative body is set to meet at least twice a year.
The members of Future: Fast Forward have formed a Delegate Committee, which will meet on a regular basis to ensure compliance with the PERTE. This commission will also be chaired by Marc Riera.
In addition, associated with this assembly, three governance committees have been created. The Audit and Supervision Committee will be chaired by Blanca Montero, economist, independent member of the General Council of the ICO (Official Credit Institute) and member of the Board of Trustees of the Banco Sabadell Foundation. The Risk and Compliance Committee will be chaired by Ignacio González, lawyer and external advisor to the Board of Directors of Grupo Ferrer International S.A. & UNIRPROEDUCA. There will also be a Financial Committee, chaired by Ferran Rodríguez, an independent external, who currently chairs the Institute of Chartered Accountants. Each of these committees are independent and will report to the general assembly.
The group will also have a Project Management Office (PMO), which will be responsible for the exhaustive follow up of the evolution of the project. The PMO will ensure that the deadlines set and the budgets for the different investments are met.
Partners of the Future: Fast Forward project
The partners taking part in this project are the following: Altech, Asai Industrial, AZTERLAN, Balidea, BeePlanet Factory, Bosch, Brose, CARTO, CELSA Group, CETIM, CIDETEC, CENIM – CSIC, CERLER Global Electronics, CYP Core, Delta Vigo, ENSO, Feníe Energía, FORMINSA, GCR Group, Gestamp, Glavista, Gonvarri, Grupo Sesé, Grupo Simoldes, Iberdrola, Intrustial, IMS Technology, Ingedetec, Instituto Universitario Investigación (CIRCE) Universidad Zaragoza, isEazy, ISEND, Kapture.io, Kautenik, Kivnon, Lazpiur, Leartiker, Libelium, Lithium Iberia, Malena Engineering, Mindcaps, Mol-Matric, Motorland Aragón, NTDD, NUTAI, Órbita Ingeniería, Pomceg Electronics, POWER Innotech, Power HoldCo Spain, SEAT CODE, SEAT MÓ, SEAT, S.A., Silence, Grupo SPR, Sumitomo Electric Bordnetze, Técnicas Reunidas, TECOI, Valeo, Vega Chargers, Vicomtech, Volkswagen Navarra, WIP and Zylk.
POWER INNOTECH’s role
Concerning POWER INNOTECH, its participation in the project will revolve around the research and development of a domestic hub for the management of electrical energy flows, integrating bidirectional recharging systems for electric vehicles and storage systems based on second-life batteries.
Created in Terrassa in 2017 and acquired by the GPAINNOVA Group in November 2020, POWER INNOTECH is a startup whose activity focuses on innovative technologies in the field of power electronics and energy efficiency in industrial systems and processes. Its priority is to apply current technologies related to its field of expertise to new areas, such as the aerospace industry or the electric car. His areas of interest include projects linked to sustainability, such as energy management in hybrid and electric cars, aerospace research and water treatment.
In October 2021, POWER INNOTECH ranked among the 101 Most Innovative Spain Based Electrical Distribution Companies & Startups, according to Futurology Life.