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Posted On: 29 October 2009 10:49 am
Updated On: 12 November 2020 02:10 pm

Revenue from commercial operations ‘within two years’

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The Williams Technology Centre (WTC), being set up at the Qatar Science & Technology Park (QSTP), is expected to start generating revenue from commercial applications within two years. “The actual development of the final product, Magnetically Loaded Composite (MLC) flywheel, would take about four years,” Williams F1 CEO Alex Burns told Gulf Times yesterday. Pointing out that it would take some months to have a full presence at the QSTP, he explained that the WTC should pick up momentum from mid-next year. The WTC is also to bring in its driving simulator, which could be used to provide training in safe driving practices. The WTC is anticipated to employ 20 staff, within two years, with a double digit million dollar R&D budget and a carefully projected revenue stream that will reward both Williams F1 and QSTP for their investment and support future project ambitions. QSTP chairman Dr Tidu Maini was of the view that new companies could be created out of the tie-up with WTC.