Traction Technology bought the intellectual property of a business involved in diesel electric hybrid power packs for buses, from its administrator. The technology uses a battery powered electric traction motorto drive the vehicle's wheels. A control system can determine how much power comes from the battery and how much from the engine. Traction Technology reversed into Catalyst New Opportunities, which had previously lost its Aim quotation at the beginning of October 2006, and joined Aim on 18 December 2006. At that time it raised £550,000 at 28p a share.