Volvo Group, Qamcom Group and inventor Roman have formed a new startup company, Fyrqom, to offer automated tire pressure monitoring system on heavy duty vehicles.
From 2024 in Europe, all trucks and trailers should have such a system.
Currently the tyre pressure monitoring system must be calibrated manually on every truck when it is built or when a tyre is changed.
Iustin, a Volvo Group engineer, had an idea on how to make this process more efficient with an automated calibration system.
Through CampX, the group’s global innovation “arena” for technology and business transformation, Iustin got support to validate the product and its business potential.
“The validation showed a high customer value,” Volvo said.
“With the [technology] being slightly outside current [group] business, the decision was to make a ‘spin out’ and build a new venture, the company added.
“This was done with speed using the CampX concept with support from many areas within the [group], like legal, IP strategy, finance, tax, HR and purchasing.”
“Having this venture builder function in the CampX concept is a good way to capture new business ideas and opportunities, both inside and outside the Volvo Group, and accelerate them to the market,” said Johan Lunden, SVP and CampX chairman.
The new startup company, Fyrqom AB, is a joint venture between Volvo Group, Qamcom Group and Iustin, who will also be the CEO.
