1 September 2006
Investors back engine tuning technology
Engine technology developer, ActiveTorque Pty Ltd has
successfully closed its first round of investment with
Allen & Buckeridge joining a Uniseed-led financing
consortium. The Queensland Government's teQstart Investment
Fund has also invested in the company, following-up
an earlier research grant from the State via the Queensland
Sustainable Energy Innovation Fund (QSEIF).
ActiveTorque was spun out of The University of Queensland
by UniQuest Pty Ltd to commercialise software which
can dynamically calculate and tune a combustion engine
to optimal operating settings.
The ActiveTorque board and UniQuest were extremely
pleased to close the first funding round, according
to ActiveTorque Chief Executive Officer, David Robinson.
“Allen & Buckeridge's wealth of experience
with start-up companies as well as their US connections
will complement the skills brought to the company by
Uniseed and teQstart”, said Mr Robinson. “The
funding will enable the company to move its lead technology
through proof-of-concept research and market assessment
to the stage of market validation.”
The technology will be initially trialed on a V6 Holden
engine, with initial results expected by October. Allen
& Buckeridge Venture Partner, Bob Christiansen said
all three investment groups were impressed by the ActiveTorque
technology. “By optimising engine performance
on the go, ActiveTorque's technology should enable an
engine to continually operate at maximum efficiency
without risking damage,” said Mr Christiansen.
“An engine enabled to always operate at its peak
would consume less fuel and produce less pollution.”
“With today's fuel prices, if ActiveTorque's
technology can demonstrably increase fuel efficiency
even by only a few per cent this would equate to a large
saving for drivers and automotive companies around the
world would be interested in incorporating it into their
cars.”
ActiveTorque's technology will be operated in trials
using data supplied by torque sensors from the German
company, Non-Compact Torque Engineering. The technology
was developed by UQ PhD student, Larry Weng.
Media inquiries: David Robinson (ActiveTorque), 0410
568 849 or
David.robinson@activetorque.com
