Pinnacle Engines Raises $13.5M in Venture Funding
Summary
Pinnacle Engines, a San Carlos, CA-based designer of a new engine that is designed to enable reductions in fuel consumption and greenhouse gas emissions without increasing vehicle cost, has raised $13.5m in venture funding., a San Carlos, CA-based designer of a new engine that is designed to enable reductions in fuel consumption and greenhouse gas emissions without increasing vehicle cost, has raised $13.5m in Investors include NEA, Bessemer Venture Partners and Infield Capital.In conjunction with the funding announcement, the company unveiled plans to commercialize its engine by 2013.Pinnacle Engines is currently in the process of commercializing its technology through a joint development and licensing agreement with an Asian vehicle OEM.Additional developments, including plans for expansion into the global automotive market, will be revealed later this year.