Bill Gates, Silicon Valley VC invest $23.5M in Troy’s EcoMotors
Some big names in business have made an even bigger investment in a Metro Detroit start-up; namely, Bill Gates and Khosla Ventures of Silicon Valley fame. The start-up: EcoMotors. The investment: $23.5 million.The venture capital investment will allow the Troy-based business to finish developing and testing its opoc engine. The innovative motor vehicle engine is expected to be much more efficient than the traditional internal combustion engine.Opoc’s opposed pistons and cylinders are much more efficient, delivering 50 percent better fuel economy compared to conventional engines. This is made possible by virtue of it’s being half the weight and size and containing half the parts of a normal vehicle engine. EcoMotors was founded two years ago. The engine was designed by the company’s current chair and CTO, Peter Hofbauer, who designed fuel efficient diesel engines as the former head of powertrain development at VW. The firm’s CEO, Don Runkle, helped spearhead the development of the General Motors EV1 electric car in the 1990s.Source: EcoMotorsWriter: Jon Zemke
Some big names in business have made an even bigger investment in a Metro Detroit start-up; namely, Bill Gates and Khosla Ventures of Silicon Valley fame. The start-up: EcoMotors. The investment: $23.5 million.
The venture capital investment will allow the Troy-based business to finish developing and testing its opoc engine. The innovative motor vehicle engine is expected to be much more efficient than the traditional internal combustion engine.
Opoc’s opposed pistons and cylinders are much more efficient, delivering 50 percent better fuel economy compared to conventional engines. This is made possible by virtue of it’s being half the weight and size and containing half the parts of a normal vehicle engine.
EcoMotors was founded two years ago. The engine was designed by the company’s current chair and CTO, Peter Hofbauer, who designed fuel efficient diesel engines as the former head of powertrain development at VW. The firm’s CEO, Don Runkle, helped spearhead the development of the General Motors EV1 electric car in the 1990s.
Source: EcoMotors
Writer: Jon Zemke
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