VeriTran is developing an Infinitely Variable Transmission (IVT) intended to expand adjustable-speed solutions into applications not served by Variable Frequency Drives and to offer an alternative for dissatisfied VFD users. Its IVT is positioned as a green technology that increases productivity while reducing energy, fuel and maintenance costs, and enables motors and engines to be sized to steady-state loads for higher efficiency and true soft starts. The IVT has completed successful endurance testing at NM Tech and VeriTran is developing an application prototype focused initially on oil industry uses. TEAM Technologies, the founding partner and current home of VeriTran, will supply engineering expertise and prototype manufacturing from its Albuquerque facilities. Cottonwood Technology Fund is leading the initial $2.5M funding round and TXO Resources is a co-investor and strategic partner providing additional engineering reviews, funding solutions, design improvements and sales/business development support. The company traces its technology to work first identified at Sandia Labs and is positioning the IVT for commercialization in industrial pumping and other variable-flow markets.

Total raised

$3M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2013