Optimus Technologies closes $17.8M Series A to advance Vector System for heavy-duty engines on 100% biodiesel
Optimus Technologies recently announced a $17.8-million Series A funding round led by Mitsui & Co. out of Tokyo, Japan. The round included participation from one of North America’s largest commercial fleets, Chevron Renewable Energy Group, and Pittsburgh regional investors including: Idea Foundry, Inc., Innovation Works, Richard King Mellon Foundation, and Urban Redevelopment Authority of Pittsburgh.
The capital raise will fund the further development and deployment of Optimus’ Vector System, an advanced fuel system technology which enables medium- and heavy-duty diesel engines to operate on 100% biodiesel.
The Vector System is an advanced fuel system upgrade that integrates into existing engines without significant modifications. The bolt-on technology installs in as few as 12 hours. The system easily integrates into any engine application and can be installed by Optimus, certified partners, or fleet technicians.
Major components include:
An in-fuel-tank heat exchanger and fuel pickup and return lines. The Vector system can use existing or new tanks.
The Vector Manifold that includes heat exchanger, fuel pump, sensors and a dedicated biodiesel fuel filter.
User interface to provide the driver with system information including operational status, fuel level and alerts.
Remote user applications for real-time wireless access to system data, service in formation and performance metrics.
The Electronic Control Unit (ECU) that communicates with the engine’s control module, Vector Manifold, and remote user applications to optimize the use of biodiesel and record system operational and engine performance data.
Optimus Technologies’ Vector System also can be built into new engines as they are manufactured, leveraging the foundational diesel engine for the transition to a low-carbon future.
Optimus was founded in 2010 with the mission of combating global climate change by deploying solutions to decarbonize the largest and most challenging transportation and industrial sectors, and it released the Vector System commercially in 2018. Since then, Optimus has deployed the technology with leading commercial fleets including ADM, and public fleets including Washington DC, and the City of Madison Wisconsin, among numerous others, accumulating millions of miles of successful operation.
The collaboration between Optimus Technologies and Mitsui will not only accelerate Optimus’ deployments in North America but also allow an expansion into a number of strategic international markets.
Optimus Technologies said that its approach to reduce carbon emissions is applicable across a wide range of industries from long-haul trucking to maritime and rail.