Volvo, research and technology firm Qamcom and inventor Roman Iustin have formed a new startup company called Fyrqom, which will deliver an automated system for the calibration of tire pressure monitoring systems on heavy-duty vehicles. Iustin will be the company’s CEO.
Starting in 2024, European legislation will require all trucks and trailers to have tire pressure monitoring systems (TPMS). Currently, these TPMS must be calibrated manually on each truck when they are built or when a tire is changed. However, Iustin, a Volvo engineer, has a new idea to streamline the process through the development of an automated calibration system.
Using CampX, Volvo’s global innovation arena for technology and business transformation, Iustin gained support to validate the system and its market potential, which was shown to be of high customer value.
Due to the solution being outside Volvo’s normal business, the OEM decided to build a new joint venture with Qamcom and Iustin.
“Having this venture builder function in the CampX concept is a good way to capture new business ideas and opportunities, both inside and outside the Volvo Group, and accelerate them to the market,” said Johan Lundén, Volvo Group senior vice president and CampX chairman.
“Focusing on customer needs, Volvo Group colleagues are encouraged to apply technologies to solve specific problems,” commented Iustin. “This fosters the mindset for development of technology-assisted business solutions. I am thankful for this opportunity and looking forward to the exciting journey ahead.”
“To us, this joint venture is a perfect match,” concluded Jonas Sandberg, co-founder and business developer of Qamcom Group. “We see great potential to make a positive impact on a larger scale through Fyrqom’s innovative solution, Volvo Group’s resources and our technology experience.”