VanDyne SuperTurbo™ Completes $15 Million in Series C Equity Financing
LOVELAND, Colo., April 14, 2014-- VanDyne SuperTurbo™ Inc. has completed a Series C equity financing round of $15 million. The round was led by Northwater Capital's Intellectual Property Fund with participation by existing investors in the Company. Proceeds from the financing are being invested into the final phase of commercialization of the SuperTurbo™ technology.
The SuperTurbo™ technology integrates the functions of supercharging and turbocharging into a single device. This combination allows a third function called turbocompounding, which increases the efficiency of an engine from the collection of waste heat energy. The SuperTurbo™ can provide efficiency gains to all internal combustion engines. The Company's current market focus is 8 to 15 liter diesel engines for the on-highway truck market.
Through expansion to a new facility in 2013, the Company enhanced its internal testing equipment including a heavy duty engine dynamometer. Testing the SuperTurbo™ on a 2013 15 liter diesel engine has demonstrated direct efficiency gains that will deliver a one year payback to the truck owner in the future. Development is continuing to improve the performance of the SuperTurbo™ and commercialize the device in advance of a high volume production launch with leading heavy duty engine OEMs.
"Thanks to the continued support of Northwater since their initial investment in 2012, we have been able to accelerate the advancement and commercialization of the SuperTurbo™" said Ed VanDyne, Chief Executive Officer of the Company. "We are now able to demonstrate on engine the SuperTurbo™ performance to the heavy duty engine industry."
About VanDyne SuperTurbo, Inc. - VanDyne SuperTurbo™, headquartered in Loveland, Colorado, specializes in the design, development and commercialization 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. For more information please go to www.VanDyneSuperTurbo.com
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.
For Inquiries, Please contact: Mark Herbst: T: 970-407-0005 ext. 805
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