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SOURCE Pinnacle Engines
New Advisory Board's Automotive and Asian market expertise will aid Pinnacle's 2014 expansion
SAN CARLOS, Calif., May 8, 2014 /PRNewswire/ -- Pinnacle Engines, developer of ultra-efficient engine designs, today announced it has appointed five industry leaders to its newly formed Asian Business Advisory Board. Comprised of individuals known and respected for their extensive experience in Asian markets, the Board will offer strategic business and technological advice to Pinnacle Engines' executive team. Pinnacle Engines also announced closure of its Series C financing, bringing total investment in the company to more than $30 million. Investors in the round included Mitsui Global Investment, VenturEast and a strategic OEM partner along with its existing investors Bessemer Venture Partners, New Enterprise Associates and Infield Capital.
"The combined power of this additional capital and new advisory board gives us the resources and expertise to innovate rapidly in emerging markets. These advisors bring deep industry knowledge and relationships to our company," says Ron Hoge, CEO and Chairman of the Board at Pinnacle Engines. "With increasing demand around the world for sustainable automotive solutions, they will greatly assist Pinnacle Engines in introducing its engine technology into multiple Asian market segments."
"The evolving Asian automotive landscape offers tremendous opportunity for new technologies that enable next generation efficiency and performance. Pinnacle Engines is poised to capture key emerging markets with its low cost, low emissions design and I am thrilled to be invited to advise them at this critical juncture," commented John Parker, former Executive Vice President at Ford Motor Company.
Pinnacle Engines' Asian Advisory Board members are:
About Pinnacle Engines
Pinnacle Engines is a Silicon Valley-based technology company addressing the urgent need for a more efficient internal combustion engines. Its patented ultra-efficient, 4 stroke internal combustion engine architecture uses standard components and manufacturing techniques for lowest total cost. Once adopted, the Pinnacle engine technology will have a significant impact on the transportation sector's petroleum usage and greenhouse gas emissions. Pinnacle's first commercial engine, jointly developed with its charter OEM partner, will soon launch in Asia. For more information visit www.pinnacle-engines.com.
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