It’s a good day for clean fuels! Below the Portland Business Journal details how a Central Oregon-based company is working to make clean fuels infrastructure more readily available:
“An Oregon manufacturer of compressed natural gas systems for car and truck engines has received $3 million from federal and private sources.
Onboard Dynamics Inc.’s most recent fundraising round includes money from the Portland Seed Fund, the U.S. Department of Energy and NW Natural.
In the next 18 months, the Bend-based company anticipates completing development, testing and market introduction of its first products, according to a statement.
The company is currently working on two compressed natural gas refueling options. One is a fully integrated onboard engine-compressor system. The second is a standalone, self-powered mobile system.
“This additional funding commitment puts Onboard Dynamics on track to become a financially sustainable provider of affordable CNG refueling solutions,” said Rita Hansen, CEO of Onboard Dynamics.
Onboard Dynamics bagged $3.4 million in 2014, coming from Oregon BEST, the U.S. Department of Energy and the Oregon Nanoscience and Microtechnologies Institute.
“Portland Seed Fund was the first investor in Onboard Dynamics because we saw the transformative potential of the technology and believed this was the right team to make it a success,” said Jim Huston, managing director of Portland Seed Fund, in the statement.
“Not only would their technology make natural gas more economically feasible for fleet vehicles, but it would help reduce transportation-related air pollutants and greenhouse gas emissions,” he added.”