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Bill Gates-backed EcoMotors buys fellow metro Detroit-based engine tech firm Katech
by Dave Muller
MLive.com
DETROIT, MI – Allen Park-based EcoMotors, Inc. has acquired Clinton Township-based Katech, Inc. for an undisclosed price. Both companies specialize in engine technologies, and EcoMotors said in a release that it will leverage Katech’s expertise on this front to further the company’s growth.
“The purchase of Katech will significantly grow EM’s ability to bring things from design to life at a rapid pace, taking us further down the path of redefining how the world is powered,” Amit Soman , EM president and chief operating officer, said in the release. “With this, we are adding a remarkable team with a long-standing reputation for high quality and a proven track record in the space.”
Founded in 2008 and privately held, EcoMotors, uses an opposed-piston, opposed-cylinder (OPOC) engine technology that is aimed at improving fuel efficiency while also keeping down production costs. It counts Bill Gates among its primary investors, as well as Khosla Ventures and Braemar Energy Ventures.
* Full Story Linked Above *
by Dave Muller
MLive.com
DETROIT, MI – Allen Park-based EcoMotors, Inc. has acquired Clinton Township-based Katech, Inc. for an undisclosed price. Both companies specialize in engine technologies, and EcoMotors said in a release that it will leverage Katech’s expertise on this front to further the company’s growth.
“The purchase of Katech will significantly grow EM’s ability to bring things from design to life at a rapid pace, taking us further down the path of redefining how the world is powered,” Amit Soman , EM president and chief operating officer, said in the release. “With this, we are adding a remarkable team with a long-standing reputation for high quality and a proven track record in the space.”
Founded in 2008 and privately held, EcoMotors, uses an opposed-piston, opposed-cylinder (OPOC) engine technology that is aimed at improving fuel efficiency while also keeping down production costs. It counts Bill Gates among its primary investors, as well as Khosla Ventures and Braemar Energy Ventures.
* Full Story Linked Above *
