|
Ft. Collins, CO – February 6, 2012 – VanDyne SuperTurbo™ Inc. has raised $8 million towards a $15 million Series C equity financing round. The round was led by Northwater Capital’s Intellectual Property Fund with participation by existing investors. Proceeds from the financing will help drive the company’s growth initiatives and speed up the commercialization of the SuperTurbo™ technology.
“Thanks to Northwater we are going to be able to take the SuperTurbo from a prototype to a product in the next two years” said Ed VanDyne, Founder and Chief Executive Officer of the Company. “This round of funding will allow the company to put the SuperTurbo through the rigorous durability testing required by the automotive industry”.
The VanDyne SuperTurbo technology integrates the functions of supercharging and turbocharging into a single device, by combining turbomachinery with a transmission. This combination allows a third function called turbocompounding, which increases the efficiency of an engine from the collection of waste heat energy. The SuperTurbo promises to deliver up to 6% efficiency gains in trucks. A SuperTurbo can make a half size engine deliver the same torque as a normal engine today. Using a half size engine with a SuperTurbo in a car will give it 36% better mileage.
“The SuperTurbo is really breakthrough technology,” said David Patterson, Northwater Capital’s Chief Executive Officer. “The market for enabling technologies allowing for engine downsizing, efficiency improvement and emission reduction is rapidly expanding and this technology is perfectly suited to fulfill the needs of automotive and truck manufacturers.”
About VanDyne SuperTurbo, Inc.™
VanDyne SuperTurbo™, headquartered in Fort Collins, Colorado, specializes in the design, development and production of SuperTurbochargers for the global automotive and truck markets. A SuperTurbo™ offers the most cost effective solution to meeting fuel efficiency regulations and reducing green house gas emissions.
About Northwater Intellectual Property Fund
Northwater Intellectual Property Fund is managed by Northwater Capital Management Inc., a leading, privately held, investment management company. Northwater focuses on investments in intellectual property and intellectual property-rich companies. Northwater provides financing, counsel and connectivity to its portfolio of intellectual property investments to speed their projects to market and to defend their protected space. For more information please visit www.northwatercapital.com.
Check out a Denver Post article about this round of financing here.
Check out a Coloradoan article about this round of financing here.
Download PDF version of this press release.
Media inquiries – please contact:
Tom Waldron
T:
970-407-0005, Ext. 803
Investor inquiries – please contact:
Mark Herbst, Chief Operating Officer
T:
970-407-0005, Ext. 805
TOP |
