AUBURN HILLS (WWJ) — ALTe Powertrain Technologies, the developer of the first plug-in electric hybrid vehicle powertrain system for light commercial fleet vehicles, will announce its participation in a major innovative funding platform Sept. 9.
The company will announce a new Private Placement Offering using the first of its kind sophisticated investment platform targeting prequalified institutional and accredited investors with mid-sized investment requests. In conjunction with ALTe’s rapidly accelerating business development activities in both the United States and Asia, the company has satisfied impressive financial and engineering milestones.
ALTe will bring the world’s first financially viable hybrid powertrain system to the underserved market of commercial vehicles. Designed by seasoned automakers and specialized electrical engineers utilizing patented technologies developed by ALTe, the economically sound powertrain system will have the quickest ROI in the EV industry.
The company’s upcoming announcement on Monday will mark the intersection of cleantech innovation and the global market demand with a cutting edge crowdfunding strategy.
ALTe develops plug-in electric and hybrid powertrain systems used to propel automobiles launching with the commercial vehicle segment. The system will be retrofit into existing fleet vehicles as well as used in “glider” applications of new vehicles to dramatically increase their fuel economy and lower emissions. Designed to replace a base V-8 internal combustion engine powertrain, the system’s patented technology improves fuel economy from 80 percent to 200 percent. Based in Auburn Hills, the company is headquartered in a 185,000-square-foot plant where it will assemble its powertrains that will be shipped to installation locations across North America.
More at http://www.altept.com.