Award-winning provider of artificial intelligence-based optimisation algorithms is pleased to announce the appointment of Mike Townend as Chair.
Optimize is a market leader in route optimisation and decarbonisation solutions for vehicle fleets and its modernisation technologies enable fleets to operate more efficiently, cutting fuel use and emissions, while helping the transition to decarbonised drivelines.
Mike said: “Optimize has huge potential for global growth and helping organisations to fulfil the essential objective of decarbonising our supply chains. Its combination of AI, machine learning, and advanced algorithms will be revolutionary in helping fleets and organisations to accelerate their net zero targets.”
Mike served as Chief Investment officer at IP Group, the market leading Deeptech and Intellectual property investor. He has more than 20 years of experience in all aspects of equity capital markets and investment processes, following a successful career in Investment Banking.
He believes Optimize has not only a commercially successful future but will play an important part in tackling the climate emergency, by helping road transport fleets of all kinds to cut fossil fuel use and transition to low-carbon powertrains.
“Optimize has an award-winning proposition which also helps to fulfil key public policy and pressing environmental needs,” he says. “It is one of those companies which is financially attractive, geared up for extensive global growth, and is also important to enabling our services and our supply chains to make essential operational changes.”
Optimize is bringing advanced mathematics, AI and machine learning to service fleets, final mile logistics, and passenger transport fleets throughout the UK. However, it is not only the engine of the software, which is revolutionary, but also the delivery. Its product My Transport Planner brings an ease of use and payment models more commonly seen in the consumer sector, allowing them to avoid the lengthy consultations, prohibitive costs and harsh tied-in contracts traditionally associated with fleet software.
Optimize Founder and CEO Colin Ferguson says: “We are thrilled to have Mike on board as our Chair. His experience and expertise will be a huge asset to us.
“Just as importantly, he believes in our technology and our mission – to help the UK’s and global fleets to decarbonise. Decarbonisation is a daunting prospect for most fleets, so we make it easy for them to access and use very powerful tools, which will save them money and ensure the best return on investment.”
Optimize algorithms are designed to be self-funding, immediately offering savings of up to 30 per cent, validated by winning multiple innovation awards and achieving ‘outstanding’ status by Innovate’s Knowledge Transfer Partnership
“We are aware that, while governments around the world are driving the necessary change to electric vehicles, fleets need to be convinced that decarbonisation can also be profitable,” says Colin.
“It is vital that transport fleets throughout the world cut their emissions significantly and rapidly,” says Mike. “I believe Optimize is an essential and timely component in making this happen.”