US based EcoMotors International has completed its Series C funding worth $32.5m to expand its research and development capability for the Opposed-Piston-Opposed-Cylinder (opoc) diesel engine development.
This round of funding was led by Braemar Energy Ventures, while the existing investors like Bill Gates and Khosla Ventures also participated in this round of funding.
The companay has so far raised more than $66m and the new funding would allow the company to move to further stage in the development of engine with Navistar and Zhongding.
According to EcoMotors, the funding will also enable it to speed up the development of gasoline variants of opoc engine to meet the demand for cost effective fuel economy gains in cars, light trucks, hybrids, and extended range EVs.
EcoMotors is developing a multi-fuel family of engines to serve both automotive and non-automotive markets which include diesel versions for commercial vehicle applications, gasoline versions, and a CNG version.
The company claims that the modular capability of opoc would offer 50% reduction in both fuel consumption and greenhouse gas emissions.
