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Pinnacle Engines gets $13.5 million infusion for ultra-efficient combustion engine development

Pinnacle Engines revealed its new four-stroke engine design for 2013. The company has also received $13.5 million in venture investments.

Pinnacle's new four-stroke engine design uses opposed pistons and can operate in different modes depending on operating conditions. Pinnacle Engines

While automakers are working toward building hybrid, plug-in or bio-fuel- driven fleets for the future masses, Pinnacle Engines has unveiled its latest four-stroke engine that promises to be more efficient than the alternatives.

Based on a four-stroke, spark-ignited, opposed-piston, sleeve-valve architecture, Pinnacle's ultra-efficient engine will first power scooters and rickshaws in Asia by 2013, and in the future will power cars in the United States and Europe.

The engine uses technology developed by Monty Cleeves called the Cleeves Cycle.

"By 2016, more than 200 million combustion engines will be manufactured globally. Pinnacle technology could make them considerably more efficient while dramatically reducing the costs required to achieve those efficiencies," states Ron Hoge, Pinnacle's new chairman and CEO. "Monty Cleeves' lifelong dream to design a much more efficient internal combustion engine is becoming a reality. The opportunity to be a part of this exciting new engine company with its game-changing technology and capability to scale quickly and affordably was something I couldn't pass up."

According to Pinnacle, the new fuel-effectiveness engine in fuel will also be cost-efficient to manufacture.

"Engines that can deliver significant efficiencies within 5 to 10 years are critical as the global demand for vehicles places a strain on both natural resources and the environment," said Rohini Chakravarthy, Pinnacle Board member and a Partner at NEA. "We believe Pinnacle Engines is in a unique position to have a major impact in that timeframe, by delivering exceptional efficiency gains at the lowest possible cost."

The Northern California company has raised $13.5 million in venture funding from NEA, Bessemer Venture Partners and Infield Capital.