Wednesday, May 28, 2014

Yan Engines Raises $4M In Funding

Austin-based Yan Engines, a startup out of the Austin Technology Incubator (ATI) developing engine fuel economy technology, has raised new capital, bringing its total funding to $4M, according to the ATI. The ATI said the funding includes funding from New Energy Holdings, a Erueopean private equity fund. Yan Engines is developing a Differential Stroke Cycle Engine which is 80 percent more fuel efficient than existing engines; the company has contracts with the U.S. Marine Corps and is also working to adapt its engine to the marine shipping and other areas. The company apparently moved to Austin in the fall of 2011, when it joined the ATI's Clean Energy Incubator. The ATi said the funding came via a Series A round of $2M in funding, which came on top of earlier funding.