KLD Energy Technologies Inc. (KLD), an Austin-based developer of clean energy technologies, has been selected by the State of Texas to receive $2.8m in funding from the Texas Emerging Technology Fund (ETF).
The company will use the funding to accelerate the commercialization of its high-performance electric drive system, execute its expansion strategy and introduce its products to new markets.
KLD’s initial product is a transmissionless, electric drive system, which is designed to improve the performance of vehicles while substantially decreasing the negative impact on the environment. The motor works in tandem with the company’s advanced electric motor controller and modular battery packs.
KLD recently signed colaboration agreements with:
– Australia-based Vmoto Limited, who will research and test the implementation of KLD’s drive system into its electric vehicles;
– Malaysia-based EcLimo, a vehicle manufacturer, who will receive the KLD drive system;
– Chinese companies to incorporate the drive system into their vehicles.