GreenSpur signs Memorandum of Understanding
Summary by AI BETAClose X
2 November 2026
Time To ACT plc
("Time To ACT", "the Company" or "the Group")
GreenSpur returns to its roots with innovative hydroelectric turbine collaboration
Time To ACT plc (AQSE: TTA), the Aquis-listed specialist engineering group, is pleased to announce that its GreenSpur subsidiary has signed a Memorandum of Understanding ("MOU") with Max Nicholas Renewables Limited, trading as MNR Turbines ("MNR"), to collaborate on the development of an innovative hydroelectric generation solution.
The collaboration brings together two complementary technologies that share the fundamental design philosophy of scalability and adaptability, and hence offer the ability to unlock new opportunities in renewable energy generation.
MNR has developed and patented a novel Continuous Maximum Thrust ("CMT") turbine, designed to address some of the longstanding challenges associated with extracting energy from flowing water. The technology is intended to operate efficiently in turbulent, shallow and fast-flowing water while offering the potential to scale to larger sizes without the conventional limitations imposed by cavitation.
MNR believes its technology offers substantial performance advantages over conventional hydroelectric solutions, with the potential for:
• Run-of-river applications: MNR claims its CMT turbine, combined with its additionally patented inlet booster tube technology, has the potential to generate 8 to 10 times more power than current technology when deployed behind suitable drop structures, including low-head installations;
• Coastal and tidal applications: MNR claims that its CMT turbine, incorporating inlet acceleration technology, has the potential to generate nearly 8 times more power than current technology in coastal estuaries, nearshore tidal streams and tidal races.
These capabilities could open up significant opportunities for hydroelectric generation in environments where conventional turbine technologies face operational and economic challenges.
GreenSpur's modular and highly configurable axial-flux generator technology provides a natural complement to MNR's turbine design. Developed with scalability at its core, GreenSpur's generator architecture can be tailored to different operating environments, power requirements and commercial applications, each supported by its advanced multi-physics modelling capabilities.
Interestingly, this collaboration also represents a return to GreenSpur's roots. The company's earliest development work focused on "wet" generators before choosing to focus its technology on wind energy applications. The opportunity to now apply its evolved generator technology to hydroelectric generation demonstrates the versatility of the underlying platform and its potential to address multiple renewable energy markets.
The two companies intend to collaborate on the development of an integrated floating hydroelectric generation system for an inshore run-of-river application.
GreenSpur will be responsible for the design, development and manufacture of an axial-flux generator specifically configured for MNR's CMT turbine, alongside supporting electrical and powertrain integration. MNR will lead the turbine and floating platform development, site-specific engineering, customer engagement and installation activities.
Chris Heminway, Chief Executive & Chief Strategy Officer of Time To ACT plc, commented:
"I am really excited by this collaboration. The unlimited configurability of GreenSpur's platform ensures that its technology stands out wherever a new turbine design needs a bespoke solution. It is also refreshing to be working with an emerging turbine technology which is sufficiently well advanced to be already prospecting its intended customer base".
Jason Moody, Chief Operating Officer of Time To ACT plc and Chairman of GreenSpur, commented:
"This is a fantastic opportunity that takes GreenSpur back to its roots. Our earliest work was in "wet" generators before we focused on the wind market, and we now have the opportunity to bring the technical advances we have made along the way back into hydroelectric generation. What is striking is that both GreenSpur and MNR have developed their technologies with scalability at their core. In addition, MNR's innovative approach to harnessing energy from flowing water in combination with our highly configurable generator platform presents a compelling technical fit and an opportunity we are genuinely enthusiastic to pursue".
Rob Norfolk, founder director of Max Nicholas Renewables Limited, commented:
"We are very excited by this union of capabilities that combines the very purpose of our turbine technology with GreenSpur's innovative electrical power generation technology. The technical collaboration converts the MNR turbine's unusually high rotational power into an equally efficient form of electrical power. In combination, this solution has the potential to materially outperform existing technologies"
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Time To ACT plc Chris Heminway, Chief Executive & Chief Strategy Officer Jason Moody, Chief Operating Officer |
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About Time To ACT plc
Time To ACT plc is a growth-focused specialist engineering group operating through two established businesses (Diffusion Alloys and MTE) and one earlier-stage development activity (GreenSpur). As the parent company of the Group, Time To ACT provides strategic and operational support to the operating companies and capital to enable their growth.
About Diffusion Alloys
Diffusion Alloys is an established specialist provider of high-temperature diffusion coating and thermal processing technologies for critical industrial applications.
The business supports customers operating in demanding environments where components are exposed to high temperatures, corrosion, erosion and aggressive process conditions, including sectors such as hydrogen, sustainable fuels, nuclear, petrochemical processing and energy transition infrastructure.
Diffusion Alloys operates through two complementary business units:
· Coating Technology, focused on licensing, technical partnerships and flexible-capacity deployment models; and
· Coating Services, the operational processing business centred on its Middlesbrough facility.
Alongside its coating technologies, Diffusion Alloys is developing a broader thermal processing platform through the integration of complementary metallurgical and heat treatment capabilities. The business combines large-scale industrial processing capacity with specialist technical expertise in surface engineering and high-temperature metallurgy.
About MTE
MTE is a specialist thermal processing and precision engineering business providing heat treatment, induction hardening, gear cutting, grinding and metallurgical processing services for industrial engineering applications.
The business supports customers across sectors including automotive, energy, marine, heavy industry and precision engineering, supplying critical components requiring high levels of dimensional accuracy, durability, wear resistance and process consistency.
MTE combines sealed quench heat treatment capability, induction hardening expertise and precision gear manufacturing with specialist knowledge in distortion control, quenching techniques, metallurgical verification and associated metrology. Its integrated processing model enables customers to access multiple complementary engineering services through a single specialist supplier, combining precision metallurgical control with scalable production capability for both specialist low-volume and higher-throughput industrial applications.
The business operates from its facility in West Yorkshire and provides subcontract engineering services to a broad industrial customer base, supported by in-house laboratory, quality assurance and technical inspection capabilities.
About GreenSpur
GreenSpur is a generator technology and intellectual property company focused on advanced electrical machine systems for renewable energy and industrial power applications.
The company develops scalable axial flux generator technologies designed for implementation across a range of sectors, including wind, marine, distributed energy and other specialist power generation applications. GreenSpur's platform-based approach enables the development of customised generator solutions that are optimised for differing operational, environmental and commercial requirements.
GreenSpur's technologies are supported by an extensive intellectual property portfolio and are designed to provide flexibility across magnetic materials, cooling systems, drive configurations and deployment environments. GreenSpur has developed the world's first credible Rare Earth-free technology which is competitive with existing Rare Earth magnet-based radial flux machines. This generator design eliminates the need for Rare Earth magnets and copper coils without any loss in electrical performance.
The business operates primarily through technology development, engineering services and licensing partnerships, while also selectively supporting manufacturing and industrialisation activities where appropriate.
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