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A Western Massachusetts company that has developed a more efficient internal combustion engine for cars and trucks is seeking $40 million in private investment, the company disclosed in a regulatory filing today.
The Scuderi Group LLC last year unveiled its prototype Scuderi Engine, an air-hybrid internal combustion engine designed to improve efficiency and power over conventional gas and diesel engines.
The company, based in West Springfield, has been touring trade shows and continuing to develop its technology, which it is seeking to license out to an engine or car manufacturer — a move that will bring in its first revenue, said president and co-founder Salvatore Scuderi.
“We’re in discussion with a number of automotive manufacturers,” he said.
The engine is based on a concept the company calls “the Scuderi Cycle,” which seeks better efficiency and performance by dividing the conventional four strokes of an engine cycle (intake, compression, power and exhaust strokes) into a paired combination of one compression cylinder and one power cylinder. The Scuderi Group holds 17 U.S. patents, according to the company’s website.
With about 20 full-time and 40 contract employees, the Scuderi Group has so far taken in a little more than $30 million from an undisclosed list of investors, Scuderi said. He declined to say where the company will look for the $40 million funding round it is seeking.
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