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Q&A with Time to Act PLC: “We're innovating in the renewable energy supply chain”

06:07, 29th May 2024
John Hughman

Chris Hemingway, executive chairman of Time to Act (TTA Follow | TTA), recently joined Vox Markets to discuss the company's journey and unique proposition in the energy sector. Time to Act, newly listed on Aquis, is an engineering-led group focused on the energy transition supply chain, distinct from private equity or venture capital firms. Mr Hemingway emphasised its role in providing innovative solutions and intellectual property for decarbonizing industries rather than manufacturing large-scale energy infrastructure.

Time to Act operates through two divisions. Diffusion Alloys, a coatings company with a 60-year history, has pivoted from coating gas turbine blades to focusing on renewable technology components. Its coatings protect metal parts from high-temperature corrosion, crucial in industries like blue and green hydrogen and nuclear energy. A significant partnership with Johnson Matthey highlights its strategic role in the blue hydrogen sector.

The second division, Greenspur, is developing a rare earth magnet-free and copper-free generator for the wind turbine industry. This innovation addresses supply chain concerns, particularly the forecasted copper shortage and geopolitical concerns around the supply of rare earth metals. Greenspur's patented technology uses aluminium coils, providing a sustainable alternative to traditional copper coils.

Mr Hemingway discussed the strategic approach of Time to Act, focusing on building permanent capital entities with a "best owner" mentality, ensuring long-term ownership and the addition of value through its experience management overlay. While more acquisitions are on the horizon, currently the primary goal is to capture growth opportunities within the existing businesses.

With a strong foundation and innovative solutions, Time to Act is poised to address the challenges of the energy transition, aiming to grow through strategic partnerships and collaborations in the green tech and clean tech industries.


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