New report from HG Ventures calls for an expanded role for technology innovators in creating ‘smarter’ roads
INDIANAPOLIS, Nov. 7, 2023 /PRNewswire-PRWeb/ — A new report published today from HG Ventures calls for an embracing of new technologies in the way roads are planned, built and managed, if they are to maintain their role in enabling the global economy to function effectively.
The Future of Roads: The Role of Technology in Securing Vital Infrastructure is published by HG Ventures, the corporate venture capital arm of Indianapolis-headquartered international construction company, The Heritage Group. The report highlights the many new technologies that have the potential to solve the decades-old challenges of congestion, safety and sustainability, including: Inductive charging for electric vehicles (EVs); vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) technology; sustainable fuel alternatives; and self-healing and lower-carbon road building materials.
The report makes the case for governments and road operators to partner with innovative technology firms to develop and pilot new technological solutions.
John Glushik, managing director of HG Ventures says: “With increased dependency on our roads, our infrastructure is under intense pressure. This is where technological innovation has a role to play. Across the United States and throughout the world, we see examples of new technologies emerging that can solve challenges around capacity, congestion, safety, sustainability and more.”
Roadmap to the Future
The new report includes a ‘Roadmap to the Future’, which sets out what a tech-enabled road network could look like:
- Increased use of lower-carbon construction materials
- Mass ‘sensorization’ of major roads, to enable the real-time sharing of data
- Use of modular roadways with embedded technology
- Incorporation of electrification technologies into and under our roads
- Use of self-healing materials in road surfacing
- Adoption of ‘autonomous-only’ lanes on highways, to allow for the safe ‘platooning’ of autonomous vehicles
- Installation of IoT technology at busy intersections
Glushik continues: “In many instances, the real innovation is taking place not only in the R&D centers of established technology giants, but in the laboratories, rented offices, workshops and even garages of entrepreneurs, all over the world. These individuals and their fledgling companies rely on venture capital to bring their products to market, and we need that technological innovation if we are to transform our roads for the better.”
The Future of Roads report references a number of startup companies that are developing technological solutions to the many challenges faced by roads and those who use, build, maintain and police them.
Glushik concludes: “Roads are vital, but what got us here will not get us to where we want to be in the future. I am excited about the technological solutions that exist today, that will exist in the future, and about the role of venture capital as our roads evolve. We are proud to back this spirit of innovation, which also aligns with the mission of The Heritage Group.”
The Future of Roads report may be downloaded from hgventures.com/futureofroads.
About HG Ventures
HG Ventures is the corporate venture arm of The Heritage Group, headquartered in Indianapolis, Indiana, USA. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with innovative, high-growth companies to support a sustainable future. The firm leverages the world-class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to its portfolio company partners. hgventures.com
Jon Meakin | Coldharbour Communications