KLD Energy Technologies Inc., a Austin, Texas-based developer of electric propulsion and generation systems, has received $1.4m from the Texas Emerging Technology Fund (TETF).
The funds, which are the second installment of a $2.8m award from the State of Texas’ TETF, will support KLD Energy Technologies in its expansion strategy to introduce its products into new markets and regions around the world. To date, KLD Energy Technologies has raised approximately $22m in funding.
Led by CEO Christian Okonsky, the company focuses on the research, development and commercialization of advanced technologies, which use innovative composite materials, including a nano-crystalline class of materials, to conduct energy with greater efficiency than traditional iron-core motors resulting in a substantial increase in system efficiency. KLD Energy Technologies’ initial application of its technology is the two-wheel electric vehicle market. The company is working with scooter and motorcycle manufacturers worldwide.