KLD Energy Technologies Inc., an Austin, Texas-based developer of clean energy technologies, has closed a $6m Series B funding from private investors.
The new capital will be used to accelerate the commercialization of the company’s high-performance electric drive system, execute its expansion strategy and introduce its products to new markets.
KLD’s initial product, stemming from its research and development efforts, is a transmissionless electric drive system that improves the performance of vehicles while substantially decreasing the negative impact on the environment. The company recently signed an agreement to provide its drive system to EcLimo, a Malaysia-based vehicle manufacturer, as well as a joint venture to produce electric drive trains with Vietnam-based Tien Loc Co. Ltd. Additionally, KDL is collaborating with major Chinese companies to incorporate the drive system into their vehicles.
FinSMEs
10/08/2010