Bold Valuable Technology Spain SL is a design and supply company of components in the Motorsport, Automotive and Aeronautic sectors. The two main areas of expertise are the design and manufacturing of batteries and lightweight composite structures for all types of vehicles. Our mission is to facilitate the implementation of batteries and advanced structures towards the improvement of sustainable solutions for our clients. Bold was founded in January 2019 by Bernat Carreras who brings with him over a decade’s worth of hands-on experience of working directly with Formula 1. The headquarters have been set up in Girona, which is around 100 kilometers from Barcelona and 70 kilometers from the French border. This university town is also an emerging tech hub. Currently, Girona University houses the well-known composite expertise center AMADE.
Off to a great start
Bold’s competitive edge is to be able to apply our advanced know-how as regards design, manufacturing, simulation testing for a leading market like Formula 1, in order to break into other industrial sectors. While staying true to our competitive spirit, we push ourselves to grow continuously. Apart from our collective technical know-how, we have a flat company structure as opposed to the traditional hierarchical structure. This ensures that the company benefits from everyone’s invaluable contribution. This also allows for our staff members to optimize their time and resources with greater efficiency. Furthermore, we can count on our great network of contacts across multi-disciplinary backgrounds throughout the industry (engineers, managers, suppliers) that regards us as a trusted partner. This approach has resulted in going from starting earnings of 309,000€ in 2019 to nearly 600,000€ in 2020. All this was achieved in spite of the significant decrease in activity in Q2 and Q3 of the 2020 FY due to the global pandemic, COVID-19. The pandemic did not stop us, but rather quite the contrary. We poured all our effort into growing the company and providing dependable services to our international partners as well as quickly adapting to the necessity for remote communication.
The growing team
Bold is proud to announce that our team has grown to include a rich array of full-time professionals and some off-site consultants. Of these professionals, 60% of the Industrial Engineers and Technicians have university backgrounds and professional training rooted in Catalonia (Spain). Bernat Carreras leads the group in his post as Technical Manager and Executive Director, mainly taking charge of coordinating the Design Team. The greater part of Bold’s team experience spans from Mechanical Design, Composites, and Thermal, Fluid and Structural Simulations. The team is also strategically made up of both veteran and junior engineers. As regards the former, most of them have accumulated F1 experience in the UK.
Our clients, mainly from the United Kingdom, are in the automotive sector and Motorsport. Nowadays, our services are customized for an F1 team, a company dedicated to manufacturing a “hyper” car, along with a technology company related to automobile competition. We are confident that this is just the beginning and are actively promoting ourselves to gain the trust of more excellent partners.
Bold’s team put their efforts on optimizing the flow of design on an ongoing basis to boost efficiency, reduce errors and improve the agility of the service. Meanwhile, we also aim to expand on our skills to develop batteries for vehicles. We have reason to believe that this branch of business has great potential for growth.
An emerging market
The electric automobile market for personal use is envisioned to go up nearly 36% annually up until 2030 (IAE, Global EV Outlook). In this report, we find that electric car sales will account for about 3% of global car sales in 2020. When we take supporting policies, particularly in China and Europe along with a strengthened and extended New Energy Vehicle mandate and CO2 emissions standards, one can clearly see the new orientation towards the electric vehicle market. The adaptation of this technology will bring about change across several markets that rely on vehicles for transport purposes. This transformation is supported by entities in the industrial world as they all aim to reduce the carbon footprint on the environment in cities and decelerate climate change.
Based on these figures, it will be necessary to develop and improve upon modern-day batteries with a view to increase their specific energy. This is the field in which Bold stands out owing to their knowledge to help companies develop batteries and propulsion systems. This knowledge accompanied by our experience with light structures and advanced materials places Bold at a vantage point to make significant contributions in this growing sector.
Our client profiles
Bold’s mainly panders to companies with anywhere from 100 to 1000 workers, and those companies which lack the in-company ability or know-how to make batteries from start to finish. Compared to our competitors, our cost projection tends to be 5-10 times lower for the same project. Although there may be some projects that we currently do not have the ability to take on, there are many which we do and at a lower price, yet unquestionably providing an equal if not better service. At the end of the day, Bold offers a more dynamic and better integrated service to our clients, which they would back up without hesitation.
Major projects in 2020
Out of all our completed projects to date, there are some that we would like to highlight: 1. The design and supplying of Formula E components made of composite materials, notably resulting in a 54% reduction in weight. The original design that Bold revamped was made of aluminum. The lighter design eventually made the car even faster; 2. Supply Agreement for the design of various components of the current car and for the next season’s for an F1 team. This project includes a team of up to 6 engineers totally dedicated for a period of 6 months.
During this period, we will design thousands of components using our CAD and human resources; 3. We contributed to the important Formula E Gen 3 battery supply bidding process, by developing a concept for a new battery, partnering up with one of the previous series’ battery suppliers. The company in question then presented their project to participate in a competition held by the Federation Internationale de l’Automobile . While they were able to defend their project as very technically advanced, they fell short of the coveted first place which was put down to financial reasons. Regardless of whether they won or lost, this experience is a necessary evil when coming up with better solutions. They may not have won but advances in the field came out of it as a result.
2021 and beyond
Needless to say, we will continue to take on projects that demand for the design of structures and components for the Motorsport industry and custom battery packs. We will keep investing to prove our strong commitment to the EV industry which will see the market launch of our standard battery pack for motorsport and high power and lightweight applications. Bold Valuable Technology has projected earnings of up to 2 million € for 2021 FY. We base this estimate, in part, on the potential projects we will be selected for in the electric vehicle sector. We are confident that there are new opportunities abound in this booming sector seeking a reliable and experienced company like ours for their projects’ needs.
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