FOR IMMEDIATE RELEASE October 19, 2011
For more information please contact: SCRA Micki Howard 843.760.3329 office 843.697.9226 mobile micki.howard@scra.org
SC Launch Presents “Big Check” Investments at InnoMobility SmartTruck and Dannar Each Receive $200,000
Greenville, SC - October 19, 2011 - SC Launch, an SCRA affiliate focused on high technology economic development, presented "big check" investments to newest Portfolio Companies SmartTruck and Dannar during the InnoMobility Conference in Greenville yesterday.
Based in Greenville, SC, and focused on increased fuel efficiency, SmartTruck is in its first phase of aerodynamic upgrades for class 8 tractors and trailers. This is the first step to making the class 8 long haul truck 60% more aerodynamic than today's best. This translates to a 30-40% improvement in fuel efficiency. SmartTruck Phase I products are available with new equipment or as a retrofit to existing equipment.
"We appreciate the support and recognition of SC Launch," said SmartTruck CEO Mike Henderson. "This funding will most certainly enable us to make further headway in the industry and grow our company."
Also based in Greenville and receiving investment is Dannar. The company's technology offers hybrid/battery-electric systems to reduce emissions in transportation vehicles. The Dannar - Mobile PowerStation (MPS) is a leading edge OEM of purpose built vehicles for the government roadside and "Right-of-Way" management market.
"I have worked in the vehicle transportation market for many years and am excited to introduce this new technology," said Dannar CEO Gary Dannar. "The resources and support that we have received from SC Launch have been invaluable. We are thankful and proud to accept this investment."
"We are delighted to recognize these innovative companies," said SCRA Executive Vice President and SC Launch Executive Director Dave McNamara. "Their dynamic technologies are helping to transform the transportation market. We look forward to their continued success and contributions to South Carolina's Knowledge Economy."
Since its inception by SCRA in 2006, and with initial funding of $12 million in SCRA earnings, SC Launch has supported and funded 188 companies in SC, helped draw 12 relocation "landing parties" to the state, provided business services to 230 early stage companies in SC through a powerful Resource Network and helped position emerging South Carolina companies to secure more than $140 million in follow-on funding from angel, venture and other private capital sources. With a program mission to develop emerging technology-based businesses in South Carolina, SC Launch has been recognized regionally, nationally and internationally for leadership in entrepreneurial support and technology-based economic development.
About SCRA http://www.scra.org
SCRA is an applied research company with over 28 years of experience building multi-organizational teams and delivering innovative technologies. Our economic development affiliate, SC Launch, helps early-stage companies to commercialize innovations and create jobs. Our ATI affiliate manages over 100 national and international applied R&D programs worth over $1.4B in contract value. SCRA-led teams deliver technology solutions with high transition rates and high ROI to Federal and corporate clients.
In support of both our applied R&D and economic development missions, SCRA builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops.