ICR Turbine Engine Corporation, a developer of turbine engines has closed $10 million in Series A financing. Financing is led by New Venture Partners.
ICR Turbine Engine Corporation (ICRTec), the developer of an innovative turbine engine using advanced ceramics that will replace today’s diesels in mobile and stationary markets, has closed $10 million in Series A financing. This funding comes at a particularly important time as the North American engine market is a $12 billion market. Their signature product, the ICR350 engine competes head-to-head on price and fuel efficiency with today’s best diesel engines and surpasses the new generation of natural gas engines, allowing ICRTec to deliver efficient transportation, grid-competitive energy, and the lowest possible emissions without the need for any added equipment or after-treatment.
Financing is led by New Venture Partners.