ICON helps secure £7.5m investment for ATS from BAA Plc.
Advanced Transport Systems Ltd (ATS) announced today that BAA had chosen their innovative ULTra Personal Rapid Transit (PRT) system for a pilot system at Heathrow, which if successful will be rolled out to all the terminals as well as other airports.
The agreement between BAA and ATS includes an investment of £7.5m in the company in return for 25% of the equity.
For BAA, ULTra will provide a high quality service to link the passenger car parks to the terminal areas. The driverless taxis provide a more effective and lower cost solution to the worldwide problems of urban transport.
“ICON got the corporate finance tactics spot on. Their support throughout was invaluable and it was a great pleasure to work with them. Alan we couldn’t have done it without you”
Professor Martin Lowson, CEO and Founder, ATS Group