Combustion engine manufacturer LiquidPiston Inc announced a USD 6.5 mllion first closing of the series C funding round. The Conneticut-based company also named David Habiger as one of the board of directors during the same event.
Northwater Capital Management Inc and Adams Capital Management led the round, encouraged by the consistent success of LiquidPiston's X Engine development.
Located centrally in Bloomfield, Conneticut, LiquidPiston is one of the world's leaders in developing and manufacturing advanced internal combustion engines.
LiquidPiston's latest development, the rotary X engine, boasts fuel-efficiency that reaches up to 2 to 3 times better than most engines
"We are thrilled to have raised an additional $6.5 million for LiquidPiston," said LiquidPiston's Founder and Chief Technology Officer, Nikolay Shkolnik, adding, "our X engine represents major breakthroughs for internal combustion engines. We have demonstrated a lightweight, compact, fuel-efficient, quiet, multi-fuel capable rotary prototype engine that is scalable from less than 1 to over 1000 HP. We look forward to working with industry partners to further develop this engine for specific market applications that value high power-density, fuel-efficiency, low-noise, and low-vibration."
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