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VanDyne SuperTurbo™ Raises $15 Million
April 14, 2014– From Northern Colorado Business Report
By Dallas Heltzell
LOVELAND – VanDyne SuperTurbo Inc. has completed a Series C equity financing round of $15 million, which it plans to invest in the final phase of commercialization of its SuperTurbo technology.
Loveland-based VanDyne makes a truck-engine management system called the SuperTurbo, which improves fuel economy and reduces soot emissions. The technology integrates the functions of supercharging and turbocharging into a single device.
According to a VanDyne statement, this combination allows a third function called turbocompounding, which increases the efficiency of an engine from the collection of waste heat energy. SuperTurbo can provide efficiency gains to all internal combustion engines, the release said. VanDyne’s current market focus is 8- to 15-liter diesel engines for the on-highway truck market.
VanDyne, a spinoff of Woodward Inc., moved its headquarters last summer from Opera Galleria in Fort Collins to a 10,830-square-foot building at 3755 Precision Drive in the Centerra area. By expanding to the new facility, VanDyne 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, according to the company.
The funding round was led by Northwater Capital Management Inc.’s Intellectual Property Fund, with participation by existing investors in the company. Northwater is based in Chicago and Toronto.
“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 of the company, in the release.