Lysanda - Improved Driving Leads To Greater Fuel Economy

• Lysanda produces the Eco-Log which reduces vehicle fleet running costs by providing highly accurate data on fuel consumption and wastage
• In-vehicle driver aid and reporting tools improve driver behaviour and result in fuel savings
• Lysanda is approved supplier to TNT, the world-leading provider of express delivery services
• £300,000 EEDA/EU funding provided initial catalyst research and development activity
• First profits expected this year, and more major contracts in the pipeline

Lysanda, set up in 2005, is the company behind the Eco-Log, invented by the company's Chief Executive, Alex Willard. The Eco-Log is a dashboard-mounted device, linked to a vehicle's diagnostic system, which improves fuel efficiency and reduces carbon emissions by giving the driver immediate feedback on the impact that acceleration, braking, and choice of gears has on fuel consumption. Lysanda claims that the Eco-Log can deliver fuel economies of between 15 and 20 per cent which, for a typical commercial vehicle, could represent a saving of up to £750 every year, while also reducing carbon footprint. The potential of Eco-Log to significantly improve fleet performance has led to Lysanda's first major contract, with TNT, the world-leading provider of express delivery services, thus proving that the Eco-Log is commercially viable.

When Willard, a former consultant to the transport industry and highly experienced automotive engineer, set up the company in 2005 he needed investment before he could turn his Eco-Log prototype into a viable product. 'When we started we had the technology and the patents but very little else.  The award of our first EEDA grant not only gave us a real financial boost, but also provided the stamp of approval, which other investors needed. This was crucial, as early stage investors (especially in technology) don't do much due diligence, while start-up companies often have little more to show than a good idea - they have no reputation they can leverage. As EEDA performs due diligence as part of the grant awarding process, this bolsters investors' confidence and, in our case, led to the longer term investment we needed to progress the product.'

Lysanda benefitted from several elements of the Grant for Research and Development - a £75,000 Research Grant to progress the early technical development work and a £25,000 Proof of Market grant to commission market research. This identified potential first customers and possible business partners, enabling Lysanda to start talking to prospects before the prototype was even completed. Two years later this led to a further £200k Development Grant, which formed part of a £1m package provided by EEDA, venture capitalists and business angels to complete the market ready prototype.

'Without the EEDA grants we would not have been able to get where we are with the product today,' says Willard, who expects Lysanda to record its first profits in 2010. The TNT contract, which will initially be an order of over 170 Eco-Log devices destined for use in the Benelux countries, is the first of a number of similar contracts, again with major brands, already in the pipeline. It is anticipated that customers will see a return on their investment in less than one year.

The company now employs five senior staff - highly respected figures in both technology and investment - at its Essex HQ, where work focuses on research, development and marketing. Given Lysanda's huge potential market (there are an estimated 4.5 million commercial vehicles on the UK's roads alone), rapidly rising fuel prices, and a growing need to minimise carbon emissions, it's clear that the benefits of Eco-Log will soon become even more compelling, in turn making Lysanda an even greater success story.