SET
SET is a supplier of electromechanical equipment assemblies, project management, and analysis services for electronic industries.
- Company typePrivate
- Founded1998
- HeadquartersDerby, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What SET does
SET LIMITED (trading as SET, meaning 'Shaping Evolutionary Thinking', formerly 'Stored Energy Technology') is a UK-based engineering services company headquartered in Derby, England, founded in 1998 and registered in England and Wales (Reg No. 3571564). The company provides specialist fault resolution, root cause analysis, reverse engineering, design, obsolescence management, overhaul repairs, software and data analysis, and on-site support to enterprise clients in transportation (primarily rail), defense, and infrastructure sectors. Its service model is project-based B2B engineering consulting, with bespoke quoting per engagement and revenue generated through professional services work. SET differentiates through accumulated domain expertise in legacy electronics and electromechanical systems, producing custom diagnostic tools (such as an RDA Emulator for CCTV train testing and a custom Remote Condition Monitoring Array) and reverse-engineered components where OEM support is unavailable.
The company's Innovation Division has developed ActiWheel GS, a patented independently motored, digitally guided wheel system for rail vehicles in which each wheel is driven by its own electric motor with electronic guidance algorithms that monitor wheel position and steer the wheelset back to centre. The technology replaces gearboxes, cardan shafts, fixed axles, and conventional braking systems. The concept was patented in 1999, validated at 75kW on a dynamometer at Nottingham University, demonstrated over 2,000km on Blackpool tram 636, and received an RSSB grant in 2016 for Stage 2 development targeting heavy rail. Revenue mechanics derive from engineering service fees plus a potential future licensing/royalty stream from ActiWheel GS. Distribution is direct enterprise sales with no channel partners, and primary marketing is via the company website and technical case studies.
SET firmographics
Firmographics- Name
- SET
- Legal name
- Stored Energy Technology Limited.
- Website
- https://set-gb.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- SET is a supplier of electromechanical equipment assemblies, project management, and analysis services for electronic industries.
- Ownership category
- akta.pro rank
SET industry classification
Industry- NAICS
- Electronic and Precision Equipment Repair and Maintenance (8112), Industrial Design Services (54142), Other Measuring and Controlling Device Manufacturing (334519)
- SIC
- Industrial Instruments For Measurement, Display, And Control (3823), Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Measuring & Controlling Devices, Nec (3829)
- akta.pro primary industry
- Engineering design services (line design, substation design, civil/structural) (EUADAKAG)
- akta.pro secondary industries
- Testing, Commissioning, Maintenance & Retrofit/Modernization (Substations/Switchgear) (EUADACAL), Instrumentation, Controls & Automation (DCS/PLC/SCADA, SIS, Metering) (EUAEAFAC), Protection, Control & SCADA/Automation Installation (Relay Panels, RTUs) (IMAFAHAF)
Keywords
Where SET is headquartered
LocationHeadquarters
- HQ city
- Derby
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
SET business model
Business model- GTM type
- B2B
- Offering type
- Services
Revenue model
- Engineering Services: B2B engineering consulting and professional services including fault resolution, root cause analysis, reverse engineering, design, overhaul repairs, and obsolescence management. Revenue is project-based, likely with fixed-fee or time-and-materials contracts for specialized engineering work.
- Innovation Products (ActiWheel GS): Proprietary traction technology development and licensing. ActiWheel GS represents a potentially licensable technology for rail vehicle manufacturers seeking improved traction and efficiency.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
SET product offering
Product offeringCore offering
SET is an engineering services firm that provides fault resolution, root cause analysis, reverse engineering, obsolescence management, overhaul/repair and manufacture, and site support for complex legacy electronics and electromechanical systems in the rail, defense, and infrastructure sectors. Through its Innovation division, SET develops proprietary rail traction technology, most notably ActiWheel GS, an independently motored, digitally guided wheel system with patents and field-tested prototypes. The company also builds custom diagnostic tools such as an RDA Emulator, Remote Condition Monitoring Arrays, and an Overvoltage Suppression Module to support client-specific engineering challenges.
Product overview
SET is an engineering-led organisation offering a portfolio of specialist technical services focused on fault resolution, obsolescence management, and lifecycle optimisation for critical equipment. The core service offerings include: Design & Reverse Engineering, Software Development & Data Analysis, Overhaul Repairs & Manufacture, Root Cause Analysis & Investigation, Site Support, and Obsolescence Management. Additionally, the Innovation Division has developed ActiWheel GS, an independently motored digitally guided wheel system for rail vehicles. These services work together to deliver comprehensive support from initial investigation through to redesign and manufactured solutions, ensuring no value is lost to obsolescence.
Differentiator
Problem solved
Functional benefit
Brands
- ActiWheel GS: An independently motored, digitally guided wheel system for rail vehicles that replaces traditional fixed axles and centrally driven traction systems with individual electric motors per wheel and electronic guidance algorithms.
Quantifiable outcome
- Elimination of rolling contact fatigue (RCF) through ActiWheel GS active wheel positioning
- +3 more outcomes
Companies that use SET
Customer profileNamed customers3 records
Segments3 records
SET technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
SET partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Nottingham UniversitycorePartnership with Nottingham University for dynamometer testing of the wheel motor prototype. The prototype motor was tested to 75kW at the university's facilities, enabling technical validation of the ActiWheel technology.
- Blackpool TransportcoreBlackpool Transport supported installation of the wheel motor on tram number 636 for real-world testing. The tram completed over 2000km of on-track testing on Blackpool seafront, demonstrating the technology in operational conditions with technical support from the transport operator.
Scale indicators1 record
Recent moves6 records
Expansion highlights4 records
SET competitors and assessment
Company assessmentBroad incumbents
- Ricardo plc: Global engineering consultancy with a dedicated rail division delivering traction, vehicle systems, and asset performance services. Comparable to SET in offering engineering services to rail operators, but operates at much larger scale with broader industrial and automotive exposure.
- WSP UK: Major engineering professional services firm with a significant UK rail practice covering systems, rolling stock, and infrastructure. Provides design, engineering, and consultancy services comparable to SET but as part of a global multi-disciplinary portfolio.
- Mott MacDonald: International engineering consultancy with strong rail sector presence covering rolling stock, signaling, and asset management. Delivers engineering services comparable to SET but at significantly larger scale and broader geographic reach.
- AtkinsRéalis (SNC-Lavalin): Global engineering services firm with extensive UK rail engineering and design expertise. Comparable to SET in providing rail engineering consultancy but with much larger resources and a full lifecycle offering.
- Wabtec Corporation: Global rail technology supplier offering traction, braking, and asset management solutions. Relevant peer because ActiWheel GS aims at the same traction and braking architecture space Wabtec dominates; SET's innovation product is a potential disruptor to incumbent technology.
- Knorr-Bremse Rail Systems UK: Global leader in rail braking and onboard systems, including HVAC and door systems. Comparable to SET because the firm has direct experience diagnosing and designing around failed Knorr-Bremse and similar components (e.g., Fire Control Unit failures, HVAC controllers).
Direct peers
- Frazer-Nash Consultancy: UK-based independent engineering consultancy delivering specialist technical services across rail, defense, and infrastructure. Highly comparable to SET in scale, specialist positioning, and vertical mix, with similar project-based engineering services.
- Resonate Group (including L.B. Foster): UK-based rail technology and services company specializing in signaling, traffic management, and rail software. Comparable to SET in scale and UK rail focus, with overlapping software/data analysis and asset management capabilities.
- Tracsis plc: UK rail technology group providing software, data analytics, and asset management services to rail operators. Comparable to SET in providing data analytics, condition monitoring, and rail-specific technology services, with overlapping customer base.
Regional players
- Signalling Solutions (a Hitachi/Alstom JV): UK rail signalling and systems provider serving Network Rail and UK operators. Comparable to SET in being a UK-rail specialist, though focused on signaling rather than fault resolution and obsolescence management.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
SET social profiles
Digital presenceSET financial estimates
Financial estimateRevenue estimate
Valuation estimate
SET leadership team
Management profileNumber of profiles
SET funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SET M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SET
What does SET do?
SET is an engineering services firm that provides fault resolution, root cause analysis, reverse engineering, obsolescence management, overhaul/repair and manufacture, and site support for complex legacy electronics and electromechanical systems in the rail, defense, and infrastructure sectors. Through its Innovation division, SET develops proprietary rail traction technology, most notably ActiWheel GS, an independently motored, digitally guided wheel system with patents and field-tested prototypes. The company also builds custom diagnostic tools such as an RDA Emulator, Remote Condition Monitoring Arrays, and an Overvoltage Suppression Module to support client-specific engineering challenges.
Is SET a public or private company?
SET is a private company. It is currently operating.
When was SET founded?
SET was founded in 1998. It employs 11 to 50 people.
Where is SET based?
SET is headquartered in Derby, United Kingdom, in the Europe region.
How does SET make money?
Two revenue lines are on record. Engineering Services are the primary driver. The others are innovation Products (ActiWheel GS).
Who are SET's main competitors?
Broad incumbents on record are Ricardo plc, WSP UK, Mott MacDonald, AtkinsRéalis (SNC-Lavalin), Wabtec Corporation and Knorr-Bremse Rail Systems UK. Direct peers are Frazer-Nash Consultancy, Resonate Group (including L.B. Foster) and Tracsis plc. Signalling Solutions (a Hitachi/Alstom JV) is listed as a regional player.
Does SET have an API?
No public API is recorded for SET.
What industry is SET in?
Its primary akta.pro industry code is EUADAKAG, Engineering design services (line design, substation design, civil/structural), with a secondary code of EUADACAL, Testing, Commissioning, Maintenance & Retrofit/Modernization (Substations/Switchgear). Its NAICS code is 8112 and its SIC code is 3823.