Volvo Group spins out new company Fyrqom AB

Volvo Group spins out new company Fyrqom AB

Volvo Group, Qamcom Group and the inventor Roman Iustin form a new start-up company, Fyrqom AB. The new company will offer an automated system for calibration of the tire pressure monitoring system on heavy-duty vehicles.

With a tire pressure monitoring system, the driver is informed if one of the tires loses the pressure. Today rather few heavy-duty vehicles are equipped with such a system. From 2024 though there is a legal demand in Europe that all trucks and trailers should have such a system. Today the tire pressure monitoring system must be calibrated manually on every truck when they are built and when a tire is changed in a workshop. Roman Iustin, a Volvo Group engineer, had an idea on how to make this process more efficient with an automated calibration system.

Through CampX, the Volvo Group’s global innovation arena for technology and business transformation, Roman Iustin got support to validate the solution and the business potential. The validation showed a high customer value. With the solution being slightly outside current Volvo Group’s business, the decision was to make a “spin out” and build a new venture. This was done with speed using the CampX concept with support from many areas within the Volvo Group, like Legal, IP strategy, Finance, Tax, HR and Purchasing.

The new startup company, Fyrqom AB, is a joint venture between Volvo Group, Qamcom Group and Roman Iustin, who will be the CEO of Fyrqom AB.

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