Monday, August 29, 2011

Levant Power's growth fuels move to Woburn

By Kyle Alspach, Boston Business Journal

Levant Power Corp., a startup developing a fuel-saving shock absorber, is moving to a larger facility in Woburn, on Friday from its current headquarters in Cambridge.

The 15,000-square-foot facility will triple the size of the company’s current facility and potentially allow for prototype work and light manufacturing, said David Diamond, the company’s vice president of business development.

Levant has signed a three-year lease for the facility, located at 475 Wildwood Ave. in Woburn, with Cummings Properties, Diamond said. The company was represented by T3 Advisors.

Levant Power has said its shock absorber, the GenShock, is expected to first be used in U.S. Army and Marine Corps vehicles. The shock absorber “harvests” energy while the vehicle drives over rough roads, generating electricity and improving fuel economy by 1 to 6 percent, according to the company. The shocks harvest the most energy in vehicles that are heavy, run over rough terrain and drive fast, Levant says.

The company, which employs 15, expects to announce its first initiatives with commercial customers in 2012, with production expected to start in 2013, Diamond said.
Levant says it has raised two rounds of financing, but the company hasn't released specifics.