Khosla Ventures Invests in EcoMotors to Deliver Efficient Diesel Engines
Low-Emission EcoMotors Engine Targets the 100 Miles Per Gallon Car by 2011
MENLO PARK, Calif.--(BUSINESS WIRE)--Khosla Ventures today announced an investment in EcoMotors, an automotive company with a focus on fuel efficiency, low emissions and cost effective solutions for developing markets. EcoMotors has developed an innovative diesel engine that is aiming at delivering 100 miles per gallon (mpg) by 2011. This investment expands the venture capital firm’s focus on vehicle efficiency.
“This new investment in efficient diesel engines from EcoMotors complements our firm’s other investments in the engine space. These companies are at the forefront of forming a serial plug-in hybrid platform with our multiple investments in new battery technology”
Coinciding with this announcement, Vinod Khosla will address North American International Auto Show in Detroit on Sunday, January 13, 2008. Mr. Khosla will share with Detroit his vision for the automotive industry, supported by anecdotes and developments from the innovative work coming out of the portfolio companies that Khosla Ventures has invested in.
There is substantial market opportunity for EcoMotors’ engine, as evidenced by the following industry demands and environmental considerations:
“We’re focused on powering the automotive fleet of tomorrow with fuel efficient building blocks,” said Vinod Khosla, Founder and Managing Partner of Khosla Ventures. “This new investment in efficient diesel engines from EcoMotors complements our firm’s other investments in the engine space. These companies are at the forefront of forming a serial plug-in hybrid platform with our multiple investments in new battery technology,” continued Khosla. “The EcoMotors founders are experienced with multiple generations of engine design at top automotive companies. This experience will apply towards the design of the 100 mpg car.”
The EcoMotors team has been designing engines for the past forty years, since 1967. The team’s specific accomplishments include developing the first high speed diesel-engines for all Volkswagens & Audis, the first 6 cylinder diesels for Volvo, the first 6-cylinder Inline-Compact-V (VR) engine in E/W installation in a compact car, first used in the Volkswagen Golf and the VR6-engine also used by Daimler-Benz. Additionally the EcoMotors team was involved in:
“We have searched long and hard for the best commercial partner to take our dreams to reality,” said Peter Hofbauer, EcoMotors CEO. “And Khosla Ventures is the best possible partner, with its focus on a green planet, a broad and deep portfolio across multiple related technologies, great connections in the industry and a well proven methodology of creating large companies. We are excited to deliver on the vision of the 100mpg car by 2011.”
About Khosla Ventures
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in both traditional venture areas like the Internet, computing, mobile, and silicon technology arenas but also supports breakthrough scientific work in clean technology areas such as bio-refineries for energy and bioplastics, solar, battery and other environmentally friendly technologies. Khosla Ventures is based in Menlo Park, California. More information is available at www.khoslaventures.com.
EcoMotors is developing innovative next-generation diesel engines, with a focus on fuel efficiency, low emissions and cost effective solutions for developing markets. The family of EcoMotors engines will set a new industry standard for clean efficient, lightweight, and durable propulsion systems for vehicles of all types. The compact, low-profile design of the EcoMotors engine family is the perfect solution for those manufacturers developing vehicles that offer “More room for man, less room for machine.” The inherently balanced EcoMotors’ engine family offers the unique ability to stack the modules and generate fuel efficiency improvements of over 50% with no compromise in vehicle power, performance, and driveability. The company is privately held and funded by Khosla Ventures, LLC, arguably the top venture firm in the U.S. focusing on alternative, green energy systems. The leadership team melds over forty years experience at leading automotive companies designing engines. EcoMotors’ vision is to bring to market the right technology for a changing world with cleaner and more fuel efficient engine designs.