VanDyne SuperTurbo raising funds through debt-offering

LOVELAND — VanDyne SuperTurbo Inc. has raised $890,215 of a planned $2.5 million debt-financing offering, according to a Dec. 28 filing with the U.S. Securities and Exchange Commission.

Loveland-based VanDyne, located at 3755 Precision Drive in the Centerra development, develops the SuperTurbo, a truck-engine management system that improves fuel economy and reduces emissions. The company in 2014 completed a Series C equity financing round of $15 million, which it planned to use for further commercialization of the technology.

Mark Herbst, VanDyne president and chief executive, said VanDyne is working with “Tier 1” strategic partners, essentially automotive suppliers that would manufacture the company’s technology for use in truck engines. Examples would include companies that produce powertrains, transmissions and turbochargers, he said.

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“We don’t have plans to go into manufacturing ourselves,” he said, but would rather work through Tier 1 companies that could manufacture and warranty the equipment.

VanDyne next week will begin working with a launch customer to determine how well the equipment improves engine efficiency in the customer’s vehicle. Successful testing could lead to a development program, with product launch in 2019 or 2020.

“We have a design that’s working well,” Herbst said.

VanDyne, a spinoff of Fort Collins-based Woodward Inc., started as part of the Rocky Mountain Innovation Initiative, now known as Innosphere.  The company employs 20.

 

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