Zopa Co-Founders Speak Out Against Fintech’s Peer-To-Peer Exit
The title of this post, is the same as that of this article on Financial News.
Read it, as it a cautionary tale about what happens to disruptive innovation.
Eventually, the big bad boys make sure you don’t disrupt their easy life.
Zopa has been part of my life for fourteen years and it did me well. Especially in the bad times and when I had a personal crisis.
I wrote Stability in Financial Systems in 2012, where I said this.
I have a strong feeling that Zopa, the peer-to-peer lender, is also a stable system. Other companies of the same type may well be too! but I am not as familiar with them as I am with Zopa.
Unfortunately, the decision makers in Zopa decided to become a bank, broke the stability and crashed the company.
Son of Zopa will arise!
A Way Out Of The AstraZeneca Vaccine Row With The EU
This article on the BBC is entitled Brexit: EU Introduces Controls On Vaccines To NI.
These are the introductory paragraphs of the article.
The EU is introducing controls on vaccines made in the bloc, including to Northern Ireland, amid a row about delivery shortfalls.
Under the Brexit deal, all products should be exported from the EU to Northern Ireland without checks.
But the EU believed this could be used to circumvent export controls, with NI becoming a backdoor to the wider UK.
The row involving AstraZeneca, the UK and the EU is now getting serious,
I think, the EU are missing an opportunity.
My Experience Of The AstraZeneca Vaccine
Yesterday, I received my first dose of the AstraZeneca vaccine, which I wrote about in Job Done – I’ve Now Had My First Covid-19 Vaccination.
As I am an engineer, who helped to finance a drug-delivery system, I know a bit about the subject of drug delivery.
My jab yesterday seemed to have been administered very quickly and painlessly, without fuss. I regularly have B12 injections as I’m coeliac and this AstraZeneca one was certainly less painful for me.
Have AstraZeneca designed the vaccine and its delivery system so that it will have application in mass vaccination situations like refugee camps, where thousands may need to be vaccinated quickly?
Consider.
- It can be transported and stored at easy-to-manage temperatures.
- I suspect that a skilled vaccinator can vaccinate more patients per hour, than with other vaccines.
- I didn’t feel a thing, which must help those with needle phobia.
- The vaccinator didn’t need to apply a plaster, just using a cotton wool pad and pressure. This must save time.
This looks to me, like disruptive innovation is at work.
Surely, though by streamlining the vaccination process, this will increase the number of patients vaccinated by a well-trained team. This will be what doctors ordered.
The Real Problem With The AstraZeneca Vaccine
I have worked a lot in the design of project management systems and very often, when projects go awry, it is due to a lack of resources.
It strikes me that the problem with the AstraZeneca vaccine, is that there are not enough factories to make the vaccine.
As it is easier to distribute and AstraZeneca are making it without profit, perhaps the EU should approach the UK about creating a couple of large factories to make the vaccine in suitable places across the UK and the EU.
A proportion of this increased production could be distributed to countries, that couldn’t afford a commercial vaccine or didn’t want to get ensnared by the Chinese in a Vaccines-for-Resources deal.
It should also be remembered that Oxford are at the last stages in the testing of a vaccine for malaria. That would surely be a superb encore for Oxford University and AstraZeneca. I suspect the UK will back it, but it would surely be better, if the EU backed it as well.
INEOS Launches A New Clean Hydrogen Business To Accelerate The Drive To Net Zero Carbon Emissions
The title of this post, is the same as that of this press release from inovyn, which is an INEOS company.
The press release starts with these points.
- The targets set out by the UN and National Governments around the world requires concrete action. INEOS is aiming not only to contribute by decarbonising energy for its existing operations, but also by providing hydrogen that will help other businesses and sectors to do the same.
- The new business will be based in the UK and will invest in ‘first intent’ Clean Hydrogen production across Europe.
- The production of hydrogen based on electrolysis, powered by zero carbon electricity, will provide flexibility and storage capacity for heat and power, chemicals and transport markets.
- The European Union Hydrogen Strategy, which outlines an infrastructure roadmap for widespread utilisation of hydrogen, across Europe by 2030, present new opportunities for the business.
- Geir Tuft CEO INOVYN said, “INEOS is uniquely placed to play a leading role in developing these new opportunities, driven by emerging demand for affordable, low-carbon energy sources, combined with our existing capabilities in operating large-scale electrolysis.”
With revenue in 2019 of $85 billion in 2019, INEOS has the financial resources to make their ambitions come true.
These are my thoughts on statements in the press release.
Geir Tuft’s Statement
Geir Tuft is reported in the press release as saying.
INEOS is uniquely placed to play a leading role in developing these new opportunities, driven by emerging demand for affordable, low-carbon energy sources, combined with our existing capabilities in operating large-scale electrolysis.
This is the first paragraph of the Wikipedia entry for electrolysis.
In chemistry and manufacturing, electrolysis is a technique that uses direct electric current (DC) to drive an otherwise non-spontaneous chemical reaction. Electrolysis is commercially important as a stage in the separation of elements from naturally occurring sources such as ores using an electrolytic cell. The voltage that is needed for electrolysis to occur is called the decomposition potential.
From my experience of working in ICI’s hydrogen plant at Runcorn in the 1970s and my knowledge of the technology and companies involved in the production of hydrogen, there are two standard routes to produce hydrogen by electrolysis.
- Water can be electrolysed as in the classic school physics experiment to produce hydrogen and oxygen.
- Brine can be electrolysed to produce hydrogen, chlorine, sodium metal and sodium hydroxide.
I worked as an instrument engineer in a plant, where brine was electrolysed using the Caster-Kellner process. As the process uses mercury, it is a process that is not without problems. There is a History section in the Wikipedia entry for the Castner-Kellner process, from where this was extracted.
The mercury cell process continues in use to this day. Current-day mercury cell plant operations are criticized for environmental release of mercury leading in some cases to severe mercury poisoning as occurred in Japan Minamata_disease. Due to these concerns, mercury cell plants are being phased out, and a sustained effort is being made to reduce mercury emissions from existing plants.
My work in the plant, involved developing instruments to measure the mercury in the air inside the plant. I was also developing other instruments and programming a Ferranti Argus 500 computer.
Because of the death of her father, C wasn’t happy in Liverpool and when the chance came of a transfer to ICI Plastics at Welwyn Garden City, I took it.
In his statement Geir Tuft says this.
Combined with our existing capabilities in operating large-scale electrolysis.
Large-scale electrolysis was certainly handled professionally in 1970 and I’m certain that INEOS, which now owns the Runcorn plant, handles the hydrogen just as well, if not better with the help of modern technology.
Hydrogen As A By-Product
In some ways, fifty years ago, the hydrogen was considered a by-product and to some a nuisance, as I don’t think, there was much of a mass market for the gas.
I used to see it being taken away in specialist trailers, but there didn’t seem to be a major use.
300,000 Tonnes Of Clean Hydrogen
This paragraph of the press release, outlines the structure of the business.
INEOS has today launched a new business to develop and build Clean Hydrogen capacity across Europe, in support of the drive towards a zero-carbon future. INEOS currently produces 300,000 tonnes of hydrogen a year mainly as a co-product from its chemical manufacturing operations.
Note that co-product is used, but I suspect in many places they have too much of it, so new markets are welcome.
I have used a figure of 23 MWh, as being needed to obtain ten tonnes of hydrogen, but I can’t find where I obtained it. If it is correct then INEOS will need 690 GWh of electricity.
INEOS, Electrolysis And Hydrogen
This paragraph of the press release, outlines the relationship between INEOS, electrolysis and hydrogen
Through its subsidiary INOVYN, INEOS is Europe’s largest existing operator of electrolysis, the critical technology which uses renewable energy to produce hydrogen for power generation, transportation and industrial use. Its experience in storage and handling of hydrogen combined with its established know-how in electrolysis technology, puts INEOS in a unique position to drive progress towards a carbon-free future based on hydrogen.
All they need is the renewable energy, to add to their expertise in turning it into hydrogen.
INEOS’s Vision
This paragraph of the press release, outlines INEOS vision for hydrogen.
INEOS is already involved in several projects to develop demand for hydrogen, replacing existing carbon-based sources of energy, feedstocks and fuel. It expects to develop further partnerships with leading organisations involved in the development of new applications. INEOS will also work closely with European Governments to ensure the necessary infrastructure is put in place to facilitate hydrogen’s major role in the new Green Economy.
It is certainly a comprehensive vision.
The Conclusion Of The Press Release
Wouter Bleukx, Business Unit Manager Hydrogen has said this.
Hydrogen is an important part of a climate neutral economy that has been discussed for decades. Finally, a hydrogen-fuelled economy is within reach as transportation in the UK, Germany, France and other countries begins to run on this carbon free technology. With extensive experience in electrolysis, INEOS is uniquely placed to support these new opportunities, driven by emerging demand for affordable zero-carbon energy sources.
You can’t say the company lacks ambition.
Conclusion
This looks to me to be ambition and disruptive innovation on a grand scale.
But it is a plan that can only get bigger and more far reaching.
If the company succeeds, I believe, it will bring hydrogen for all.
Our Sustainability Journey
The title of this post, is the same as that of this press release on the Rolls-Royce web site.
It is sub-titled.
Paul Stein’s Thoughts On Sustainability And Electrification
Paul Stein is Rolls-Royce’s Chief Technology Officer, so what he says is important.
This press release was the source of the information behind Distributed Propulsion ‘Maybe The Only Means’ For Small Electric Flight Progress, which I wrote about Rolls-Royce’s beer keg-sized 2.5 MW generator.
This is the third paragraph.
We’ve taken great steps at Rolls-Royce with our three-pillar sustainability approach of developing the gas turbine to even greater efficiency, supporting the introduction of Sustainable Aviation Fuel and creating new, disruptive technologies such as electrification.
These are definitely, the three pillars of wisdom, when it comes to sustainable aviation.
E-Fan X
This paragraph is Paul Stein’s view of the E-Fan X.
One of the great endeavours in the latter category has been our E-Fan X programme in partnership with Airbus. From our side, this has involved creating a hybrid-electric power generation system at a scale never previously seen in our industry, comprised of an embedded AE2100 gas turbine driving a 2.5MW generator and 3000V power electronics and an electric propulsion unit. What has been particularly encouraging has been the amount of industry interest and support for this programme, and I know everyone at Rolls-Royce and Airbus has been truly grateful for that.
He states that the E-Fan has now concluded, but a several valuable lessons have been learned.
2.5 MW Generator
He describes the generator like this.
Amongst the many great achievements from E-Fan X has been the generator – about the same size as a beer keg – but producing a staggering 2.5 MW. That’s enough power to supply 2,500 homes and fully represents the pioneering spirit on this project.
The press release discloses that the heart of this staggering generator is a Rolls-Royce AE2100 gas turbine, which powers the latest version of the legendary Lockheed Hercules; the C-130J Super Hercules.
Wikipedia gives this data for the AE2100D2 version of the engine.
- Length – three metres
- Diameter – 0.73 metres
- Weight – 783 kilograms
- Maximum Power Output – 3458 kW
- Fuel Consumption – 0.25/kW/h
It looks like in the E-Fan X application, the engine is not at full power.
Use With Aviation Biofuel
Aviation Biofuel is described like this in the first sentences of its Wikipedia entry.
Aviation biofuel is a biofuel used for aircraft. It is considered by some to be the primary means by which the aviation industry can reduce its carbon footprint. After a multi-year technical review from aircraft makers, engine manufacturers and oil companies, biofuels were approved for commercial use in July 2011.
But it doesn’t necessarily mean growing large amounts of crops and converting it to the fuel. Altalto, who are backed by British Airways, Shell, Oxford University and the British Government are building a plant at Immingham to convert household and industrial waste into aviation biofuel.
I would expect that Rolls-Royce have made sure that the generator will work with aviation biofuel.
A Memory Of Emergency Power Generation
About twenty-five years, there was a major power failure after a thunder storm, where I lived in Suffolk and C and myself went to bed in the dark. We awoke to full power in the morning, after a good night’s sleep with no disturbance.
Imagine my surprise, when I let the dogs out to find parked in the field in front of the house, a very large articulated truck.
I was greeted by an engineer, who asked if I minded, his generator in my field. I seem to remember my response was to offer him a cup of tea, which he refused, as he said he had everything he needed in the truck.
It turned out that the main sub-station for the area had received a direct lightning strike and had been destroyed. So to supply power to all the nearby villages, as my farm was at the end of the supply, it was the most convenient place to plug in a transportable gas-turbine generator. The generator was in the field for about ten days and the whole operation impressed me with its professionalism.
But with this new 2.5 MW generator from Rolls-Royce, there would only need to be a small 3.5 tonne four-wheeled truck, to include the generator, fuel and living quarters for the engineer
We have made a lot of progress in twenty-five years.
A Modern Railway Locomotive
The power of this new Class 68 diesel locomotive, that was built in Spain, by Swiss company Stadler is a very healthy 2,800 kW.
Consider these facts about a Class 68 locomotive.
- Thirty-four of these locomotives have been produced for the UK.
- They are powered by a Caterpillar C175-16 engine, which weighs thirteen tonnes.
- The transmission of these locomotives is electric, which means that the diesel engine drives a generator and the train is driven by electric traction motors.
- The locomotive is equally at home hauling intermodal freight trains and passenger trains for Chiltern Railways or TransPennine Express.
- According to Wikipedia, Class 68 locomotives comply with Stage III A of the European emission standards but not Stage III B. But that is much better than most of our noisy, smelly and polluting diesel locomotives.
Class 68 locomotives are members of the UKLight family of locomotives, which contains, these two other locomotives.
- Already in service is the Class 88 locomotive, which is a bi-mode locomotive, which is capable of running on electrification or the on-board 0.7 MW diesel engine.
- Under development is the Class 93 locomotive, which is a tri-mode 110 mph locomotive, which is capable of running on electrification, the on-board 0.7 MW diesel engine or battery power.
Stadler seem to be able to mix-and-match various power sources to provide versatile and highly-desirable locomotives.
I feel it would be feasible to design a railway locomotive with the following power sources.
- 25 KVAC overhead or 750 VDC third-rail electrification, providing up to perhaps the four MW of a Class 88 locomotive.
- A Rolls-Royce gas-turbine generator running on aviation biofuel, providing up to perhaps three MW.
- Batteries up to a weight of perhaps ten tonnes.
I am sure that it could handle many of the routes still run with diesel locomotives in the UK.
- It would handle all locomotive-hauled passenger services and would be electric-only in stations.
- It certainly solves the problem of hauling long intermodal freight trains between Felixstowe and the Midlands and the North.
- To handle the heaviest stone and aggregate trains, it might need a more powerful generator, but I’m sure Rolls-Royce would oblige.
In Thoughts On A Battery/Electric Replacement For A Class 66 Locomotive, I gave a list of routes, that would need to be handled by a battery electric locomotive.
- Didcot and Birmingham – Around two-and-a-half hours
- Didcot and Coventry – Just under two hours
- Felixstowe and Ipswich – Around an hour
- Haughley Junction and Peterborough – Around two hours
- Southampton and Reading – Around one-and-a-half hours
- Werrington Junction and Doncaster via Lincoln – Around two hours
- Werrington Junction and Nuneaton – Just under two hours
Will Rolls-Royce’s generator be able to supply 2.5 MW for up to four hours?
This would need two-and-a-half tonnes of aviation biofuel, which would be around 3,200 litres, which could be carried in the 5,000 litre tank of a Class 68 locomotive.
It certainly seems feasible to replace diesel locomotives with gas-turbine locomotives running on aviation biofuel, to reduce net carbon emissions and reduce noise and pollution.
But this is not just a UK problem and many countries, who rely on diesel-hauled rail freight, would look seriously at such a locomotive.
Underfloor Mounting In Passenger Trains
These pictures show the space underneath a Hitachi Class 800 train.
The red cap visible in some pictures is the filler for the oil or diesel for the MTU 12V 1600 R 80L diesel engine used to power the trains away from electrification.
This diesel engine has this specification.
- It produces 560 kW of power.
- It weighs around six tonnes.
- Its is about 4 x 2.5 x 1 metres in size.
The diesel engine produces about a fifth of the power as the gas-turbine generator, which is also smaller and very much lighter in weight.
It should also be noted, that a nine-car Class 800 train has five of these MTU diesel engines.
At a first glance, it would appear Hitachi could find one of Rolls-Royce’s gas-turbine generators very useful.
- It might even enable self-powered high speed trains to run on lines without electrification at speeds well in excess of 140 mph.
- I can certainly see, High Speed Two’s classic-compatible trains having one or possibly two of these generators, so they can extend services on lines without electrification.
We shouldn’t forget that one version of British Rail’s Advanced Passenger Train was to be gas-turbine powered.
A Class 43 Diesel Power-Car
Rolls-Royce would need a test-bed for a trial rail application of their 2.5 MW generator and there is probably no better trial vehicle, than one of the numerous Class 43 power-cars waiting to be scrapped. They could probably obtain a complete InterCity 125, if they wanted one for a realistic weight, test equipment and a second power-car for comparison and rescue.
But seriously, if we are going to remove diesel from UK railways by 2040, a solution needs to be found for the GWR Castles, ScotRail’s Inter7Citys and NetworkRail’s New Measurement Train.
One of the great advantages of these staggering (Rolls-Royce’s Chief Technology Officer’s word, not mine!) generators is that they are controlled by Full Authority Digital Engine Control or FADEC.
FADEC will give the pilots in a Hercules or other aircraft, all the precise control they need and I doubt Rolls-Royce will leave FADEC out of their gas turbine generator, as it would give the operator or driver extremely precise control.
A driver of a GWR Castle equipped with two gas-turbine power-cars, would be able to do the following.
- Adjust the power to the load and terrain, with much more accuracy, than at present.
- Shut the engines down and start them quickly, when passing through sensitive areas.
- Cut carbon-dioxide emissions, by simply using a minimum amount of fuel.
I would put a battery in the back of the Class 43, to provide hotel power for the passenger coaches.
Running current MTU engines in the Class 43s, on biodiesel is surely a possibility, but that not an elegant engineering solution. It also doesn’t cut carbon emissions.
As there are still over a hundred Class 43s in service, it could even be a substantial order.
It should also be noted, that more-efficient and less-polluting MTU engines were fitted in Class 43s from 2005, so as MTU is now part of Rolls-Royce, I suspect that Rolls-Royce have access to all the drawings and engineers notes, if not the engineers themselves
But it would be more about publicity for future sales around the world, with headlines like.
Iconic UK Diesel Passenger Trains To Receive Green Roll-Royce Jet Power!
COVID-19 has given Rolls-Royce’s aviation business a real hammering, so perhaps they can open up a new revenue stream by replacing the engines of diesel locomotives,
A Class 55 Locomotive
Why Not?
A Class 55 locomotive is diesel electric and there are thousands of diesel locomotives in the world, built to similar basic designs, that need a more-efficient and more environmentally-friendly replacement for a dirty, smelly, noisy and polluting diesel power-plant.
Marine Applications
The Wikipedia entry for the Cat C175, says this.
The Cat C175 is often used in locomotives and passenger-class ships.
I suspect there will be marine applications for the gas-turbine generator.
Conclusion
I’m very certain that Rolls-Royce’s pocket power station has a big future.
Who said that dynamite comes in small parcels?
Equipmake Opens New Electric Bus Factory In Snetterton
The title of this post, is the same as that of this press release from Equipmake.
This is the introductory paragraph.
Expert electrification company, Equipmake, has opened a brand-new factory in Snetterton, Norfolk, which will design and manufacture its fully-integrated electric bus chassis for an increasingly international customer base.
This paragraph sums up their marketing philosophy for their bus chassis.
Equipmake’s innovative electric bus chassis allows any bus coachbuilder to become a full electric bus manufacturer almost overnight. Such is the demand from bus makers wishing to go zero emissions that Equipmake has forged partnerships with companies in Brazil, Argentina and India and grown its UK staff from 15 employees to 52 in a little over two years.
Equipmake certainly seem to be doing something right.
- They make their own electric motors.
- They claim to make the world’s most power dense electric motors.
Perhaps, it’s all down to good design?
This paragraph from the press release gives more details of the bus chassis.
Thanks to efficient management of its onboard heating and cooling system, the bus – a 12m single deck model capable of carrying 70 passengers – will have enough electric range for one day’s running without the need for charging. To charge the vehicle, the operator simply needs access to a standard three-phase supply, which will fully charge it in around five hours.
That seems impressive to me!
Coronavirus: Mercedes F1 To Make Breathing Aid
The title of this post is the same as that of this article on the BBC.
This is the introductory paragraph.
A breathing aid that can help keep coronavirus patients out of intensive care has been created in under a week.
From reading the article it appears that engineers from University College London, clinicians at University College Hospital and production engineers and specialists at Mercedes Formula One have combined to re-engineer and hopefully improve something called a Continuous Positive Airway Pressure (CPAP) device, which is already used in hospitals and has been used in China and Italy to combat the virus.
The new design would appear to have advantages.
- It doesn’t need an expensive ventilator.
- It doesn’t need an intensive care bed.
- From the pictures and video on a BBC Breakfast report, it looks to be quick and easy to manufacturer.
- A production rate of a thousand a day is claimed by Mercedes.
- The BBC Breakfast report also says, that patients don’t need to be sedated.
- It also looks like the NHS is going to fast-rack the device into use.
Will this rethinking of standard treatment increase hospital capacity and save lives?
I can’t answer the question, but given those behind the device, it must have a better than even chance of being a success!
A Comment On The Dyson Ventilator
This comment was posted on this article in The Times talking about ventilators.
I work in ITU- I’m with the dyson option. Ventilators are mostly large cumbersome things complicated devices…. if he delivers in time I have no doubt they’ll be great…& maybe better than what we have now…
We have to assume it’s a genuine comment.
Note that the article gives a good description of a ventilator and how it works. As an engineer, it doesn’t seem to be the most complicated piece of equipment.
Think over the last two hundred years how many radical redesigns of common products have been made, that have changed markets.
- George Stephenson and the railway.
- Frank Whittle and the jet engine.
- Alexander Graham Bell and the telephone
- Alec Issigonis and the Mini
- Trevor Baylis and the wind-up radio and wind-up torch.
- James Dyson and the vacuum cleaner.
- Transistors and integrated circuits have taken over from electronic valves.
- Mini computers have taken over from mainframes.
- Flat screens have taken over from cathode ray tubes
- On-line systems like auctions. banking and peer-to-peer lending.
- High speed rail is taking over from short distance flights.
We can all nominate our favourite examples of disruptive innovation.
James Dyson and his team have probably looked at the current design of ventilator and concluded that it is complicated, expensive to make and difficult to use and have come up with a better design, that can be built quickly and easily in large numbers.
Government Orders 10,000 Ventilators From Dyson
The title of this post, is the same as that of this article on the BBC,
It may seem strange to some, that the government has turned to a vacuum cleaner manufacturer to build high-tech medical equipment for the NHS.
But.
- Look at the quality of the parts on your Dyson vacuum, where they all fit tightly together.
- I suspect that some of the principles about air-flow in a vacuum, apply to a ventilator.
- Advanced manufacturing has progressed a lot in recent years and it should be one of Dyson’s strengths.
The BBC are reporting that Dyson is working with The Technology Partnership, an innovation company based in Cambridge.
UK Electric Van Maker Arrival Secures £340m Order From UPS
The title of this post is the same as that of this article in the Guardian.
Arrival seem to be doing things differently, so read the Gaurdian article and their entry on Wikipedia.
This is their mission statement from the web site.
Arrival is a technology company, we create Generation 2 Electric Vehicles. Devices on wheels — they outperform legacy technology to deliver an experience like no other, but are priced the same as fossil fuel equivalents.
They must be doing something right, UPS, Hyundai and Kia have all invested in the company.
Here’s a picture from the Arrival web site.
Arrival is one of those companies, that will either make a fortune and annoy a lot of established companies in the field or end up in serious trouble, as the rivals gang up on them.
The Anonymous Widower 