Bloomfield combustion engines developer LiquidPiston, Inc. has secured a $5 million investment that will allow the company to add jobs and further advance its fuel efficient rotary diesel engine technology.
The company recently closed on a $5 million Series B investment round from a group of investors including Northwater Capital and Adams Capital Management.
Alexander Shkolnik, president, CEO and founder of the company, said LiquidPiston is developing internal combustion engines based on an innovative thermodynamic cycle that increases the average efficiency over conventional diesel engines by up to 50 percent under typical operating modes.
The engines are also a quarter of the size of comparable engines and up to three times more fuel efficient, Shkolnik said.
Shkolnik said the funding will allow the company to add about five jobs and focus over the next two years on further developing the technology and figuring out how to bring to market.