VanDyne SuperTurbo, Inc.™ Spins Out of Woodward – Woodward Governor Inventor Launches New Clean Tech Company with SuperTurbo™ Technology and 12 Employees
September 22, 2009
Fort Collins, Colorado, September 22, 2009 – VanDyne SuperTurbo, Inc.™ announced today it has spun out of Woodward Governor (Nasdaq.gs – WGOV). The Company has attracted private investors to help finance the commercialization of its revolutionary fuel efficiency product, which can provide more than 25% fuel savings to car owners in the future. VanDyne SuperTurbo, Inc.™ is now an independent company specializing in the design, development and production of SuperTurbos™ for the global automotive market and for heavy duty engine manufacturers.
“We are effectively a new company determined to develop products that will help our customers cut the fuel consumption and reduce the carbon emissions of their engines, no matter what fuel they are using,” said Ed VanDyne, Founder and President of the new company. “Woodward’s management has been tremendously supportive of our efforts and I’d like to thank them for maintaining their involvement with the spin-out.” Woodward Governor will continue to support the new Company while retaining a significant equity position in the new company.
Thomas A. Gendron, Chairman and Chief Executive Officer of Woodward Governor, said: “We’ve been impressed with the job Ed VanDyne and his team have done in developing the SuperTurbo™ technology. VanDyne’s focus on the high-volume automotive market was not a fit with Woodward’s core business of Aerospace, Power Generation and Industrial Controls. As such, we agreed that VanDyne SuperTurbo, Inc.™ should operate as an independent company. However, Woodward is retaining a minority stake in this exciting new company.”
“We are able to provide Automotive companies with the opportunity to downsize their engines and to still maintain the same horsepower levels of the larger engines,” said Mr. VanDyne.
The VanDyne SuperTurbo™ combines the low-speed performance of a supercharger with the energy extraction capabilities of turbo-compounding (exhaust waste heat energy collection). By coupling a turbocharger to an infinitely variable transmission the SuperTurbo™ can help make the same power from an engine half the normal size. The result is a 25-30% improvement in vehicle efficiency over existing gasoline-powered engines and 7-10% improvement over existing diesel-powered engines. The first VanDyne SuperTurbos™ for customers are slated to go into low volume production in late 2011. The new Company will ship the second generation prototypes to customers in October of this year.
VanDyne SuperTurbo™ now has 12 employees in Fort Collins and expects to create 25 new jobs next year, as customer programs expand into development. With the help of Woodward, the new Company has new engine test facilities located on the Campus of Colorado State University. VanDyne SuperTurbo, Inc.™ is an active partner in the FortZed renewable energy smart grid demonstration program.
About VanDyne SuperTurbo, Inc.™
VanDyne SuperTurbo, Inc.™ is an innovative engineering based company focused on the development and production of SuperTurbos™ for its engine manufacturing customers around the world. The Company is moving fast toward the commercialization of its revolutionary fuel efficiency product line, which can provide more than 25% fuel savings to car owners in the near future. The Company is currently working with customers in the Automotive, Agriculture, and On-Highway Truck markets. VanDyne SuperTurbo, Inc.™ is headquartered in Fort Collins, Colorado USA.
About Woodward Governor Company
Woodward is an independent designer, manufacturer, and service provider of energy control and optimization solutions used in global infrastructure equipment. We serve the aerospace, power generation and distribution, and transportation markets. Our systems and components optimize the performance of commercial aircraft; military aircraft, ground vehicles and other equipment; gas and steam turbines; wind turbines; reciprocating engines; and electrical power systems. The company’s innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable and cost effective equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colorado USA.