Transonic Combustion Secures Second Round of Venture Financing

CAMARILLO, Calif.--(BUSINESS WIRE)--Transonic Combustion, Inc. announced today that it has completed its second round of venture funding. The round was lead by Venrock and also includes Rustic Canyon and Khosla Ventures. These three world class venture capital firms, who were also the first round investors, participated on an equal basis. This second round of financing was closed just nine months after the company’s first round of financing and 15 months ahead of the initial business plan schedule. The accelerated second stage funding will facilitate tripling the company’s R&D effort and building the team.

“Transonic Combustion has the potential to be strategically important to large markets, including transportation and stationary electricity generation.”

“We brought in the second round on a highly accelerated basis to allow us to proceed rapidly from our current single cylinder test engines to automotive size four cylinder engines in preparation for presenting our technology to the automotive industry in early 2008,” says Mike Cheiky, company president.

“Venrock’s partnership with Transonic Combustion began a year ago and this latest round of investment is a testament to the promise of their technology and their ability to reach milestones,” said Matt Trevithick, partner at Venrock. “Transonic Combustion has the potential to be strategically important to large markets, including transportation and stationary electricity generation.”

About Transonic Combustion

Transonic Combustion, Inc. is engaged in the development of an advanced fuel injection system which allows conventional internal combustion engines to operate at very high efficiency, which in turn, could enable automobiles to operate with much better fuel economy. This technology also allows conventional engines to run interchangeably on gasoline, diesel and biofuels such as ethanol, biodiesel, and unprocessed plant oils. For more information, see http://www.tscombustion.com.