ICR Turbine Engine Corporation (ICRTec) is a Hampton, NH–based developer of an innovative turbine engine using advanced ceramics intended to replace diesel engines in mobile and stationary markets. Its core product, the ICR350™, is a gas turbine engine positioned as a fuel-efficient, flexible replacement for diesel across heavy-duty truck transportation, oil and gas production, and data centers. The ICR350’s unique ability to switch on the fly from natural gas to diesel is intended to accelerate adoption of natural gas in transportation. The company plans to use the capital to continue ongoing engine testing and development and to initiate commercialization with OEM partners in heavy-duty truck transportation and on-site power generation. ICRTec closed a $10M Series A led by New Venture Partners with participation from two strategic investors, and an NVP managing director joined the company’s board.

Total raised

$10M

Funding rounds

1

Latest round

Series A

Latest activity

Nov 2012