Torvec, Inc has allocated $500,000 in new funds towards completing pre-production prototypes of a transmission that significantly reduces diesel soot emissions and fuel consumption in heavy-duty trucks. When production is completed, Torvec will send a diesel truck with the new transmission to the Environmental Protection Agency for emissions and fuel testing.
Keith Gleasman, President of Torvec, said, ‘We expect diesel trucks with our transmission will meet the EPA’s aggressive and healthy goals for lower soot emissions. Commercial quantities of the Torvec transmission could be produced quickly and inexpensively because it has about 300 parts, compared to 600 in today’s transmissions. It also weighs less, which further reduces manufacturing costs.’
Torvec was founded by the same team that invented and commercialised the Torsen differential, which improves the handling of high-performance vehicles made by General Motors, Toyota, Audi, Porsche, Hummer, Mazda and Volkswagen and in Formula 1 and Indy race cars. A private investor who purchased 100,000 common shares from Torvec at $5.00 per share provided this new investment. Torvec believes its transmission will reduce trucks’ diesel emissions to a level that meets or beats the EPA’s proposed goals for soot of 0.01 grams per brake-horsepower-hour by 2007. This is a 90% reduction from current standards of 0.1 grams per bhp-hr. With Torvec’s transmission there is no gear shifting and no clouds of soot. Engines run at a steady speed, their ‘sweet spot’ for fuel efficiency. This is the basis for Torvec’s patented infinitely variable transmission, which the Company believes is the only one with enough torque for heavy trucks.
Earlier designs of Torvec’s transmission were lab tested at Alfred State University. The current design has been tested using CAD/CAM simulations. Forward-looking statements made in this announcement are based on current expectations, which are subject to the risks and uncertainties outlined in Torvec’s 10-KSB dtd. 12/31/99 and in the 2000 proxy statement and also include Torvec’s ability to successfully produce and commercialise its transmission and results of EPA testing.
For more information visit http://www.torvec.com or contact Mr. Jim Gleasman of Torvecat +1 716-248-8549.