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Khosla's EcoMotors to Get $18 Million for Advanced Engine Technology

EcoMotors International CEO Don Runkle recently announced that Zhongding Holding Group has signed a letter of intent to fund further development of EcoMotors' opoc engine technology. The agreement specifies that Zhongding Holding and Global Optima LLC will commit up to $18 million of advanced engineering focused on the opoc technology, including refinement of the existing EM100D diesel engine, and development of a smaller gasoline version, the EM65FF. Global Optima has expressed the possibility of direct equity investment in EcoMotors.

The Zhongding Holding (Group) Co., Ltd. is a large Tier1 supplier which includes Zhongding USA, based in Monroe Mich. Global Optima LLC is an engineering services company based in Allen Park Mich., and has operations in the USA and a new technical center in Shanghai China.

According to EcoMotors, its opoc engine technology provides several benefits including higher efficiency (up to 60% greater fuel efficiency), lighter weight, and lower manufacturing costs.

Governor Jennifer M. Granholm said today's announcement bolsters her administration's ongoing efforts to diversify Michigan's economy and create new jobs. "One of the economic sectors we're working to grow is advanced manufacturing," Granholm said. "The EcoMotors, Zhongding and Global Optima venture is further evidence that Michigan has the business climate, infrastructure and skilled workforce to compete in the global marketplace."

Based in Troy, Mich. EcoMotors is developing high-efficiency engines — specifically the unique opoc engine — for use in cars, light trucks, marine applications, agricultural vehicles, stationary generators, etc.; essentially anywhere conventional gas or diesel power is utilized.

EcoMotors is a Khosla Ventures portfolio company.