According to cleantech news site NewNet News, MotoCzysz is looking to raise $10 million through a 25% stake in the company. Securing its first MotoCzysz D1g1tal Dr1ve technology order, MotoCzysz is looking to bring its drivetrain products into full production with this investment, as the company reports it is close to securing further industry collaborations.
Funded to-date primarily by high-networth individuals, MotoCzysz will surely seek venture capital investment to raise the needed $10 million. “We have not gone down the venture capital route yet and I think that has so far been of benefit to the company,” said Michael Czysz to NewNet. “We are open to venture capital investment, we would just choose our partners very carefully
This news is interesting as its a sign that the Portland company is switching gears from a purely R&D and IP company, into a firm that also has a more robust production capability. Of course consumers will be tantalized with the prospect of the 2011 MotoCzysz E1pc going into some sort of limited production (we would caution such conclusions, as Czysz himself has told us that the performance isn’t there yet for such an endeavor), but the true crux of this announcement is really that MotoCzysz will become a a more serious contender in the EV partnership market, competing more evenly with firms like Mission Motors.
With partnerships already formed with battery maker Dow Kokam, and motor manufacturer Remy Motors, MotoCzysz’s relationship with Segway as its Isle of Man TT race team sponsor raises some eyebrows, and perhaps hints at some of the new projects the Oregonian company is working on with its electric drivetrain technology. We’ll have to wait and see what happens with this news, but it certainly seems like a new chapter for MotoCzysz. Thanks for the tip John!