Fallbrook Technologies, a startup company that designs energy-saving transmissions, announced on Jan. 12 that it completed the first close on a $25.4 million financing round to continue the commercialization of its NuVinci transmission.
Clean-tech investment firm NGEN in Palo Alto provided $10 million as lead investor. Robeco, the investment arm of Rabobank of the Netherlands, provided an additional $10 million from its clean tech private equity funds.
Windstone Capital Partners of Scottsdale, Ariz. provided “advisory support.”
This is Fallbrook’s first venture-financed round; previous financing for the company was done through private equity investment.
“We’re convinced that NuVinci technology, already commercialized for bicycles, can revolutionize a wide range of clean-tech market segments,” said Steven E. Parry, managing director of NGEN.
“Closing a $25 million finance round in this economy is a huge validation of NuVinci technology and its game-changing potential , particularly in the clean-tech area,” said William G. Klehm III, Fallbrook’s president and CEO. “This investment positions us to make major gains in both market-reach and market share worldwide.”
NuVinci is a universally adaptable continuously variable transmission that can be used in any transmission-based vehicle or device. It improves performance and fuel efficiency. In 2007 , its first full year on the market , NuVinci won major awards, including the R & D; 100 Award as one of the year’s most technologically significant products and the Netherlands’ Technology of the Year Award.
, Ned Randolph
