INDIANAPOLIS, May 16, 2024 /PRNewswire/ -- Allison Ventures, Allison Transmission's venture capital arm, is pleased to announce it has committed to a $10 million investment in EnerTech Capital, a venture capital firm focused on the development of emerging technologies and business models in the mobility space.
Through this partnership, Allison will gain access to EnerTech's large network of high-tech companies that are advancing automotive technologies in the electrification, connectivity, autonomy and digitization sectors.
"We are excited to have Allison Transmission join as an investor in our latest fund, The Global Strategic Mobility Fund. The partnership between Allison Transmission and our firm will provide actionable insights into emerging technologies that help complement their internal innovation strategy," said Wally Hunter, Managing Partner, EnerTech Capital. "Allison is joined by nine other corporate investors in the fund, and we look forward to leveraging the synergies between these groups as we build out our investment portfolio."
Through EnerTech's network, Allison Ventures will have the opportunity to collaborate with like-minded companies that are committed to developing new technologies and business models to enhance the converging technology, energy, utility and transportation sectors. This will include access to insights into trends in mobility, market research, business development opportunities and data to further enhance Allison.
"EnerTech seeks to redefine the mobility sector through investments in companies that are shaping the future of the industry," said Todd Bradford, Vice President, Strategy, Business and Corporate Development, Allison Transmission. "This strategic partnership will accelerate Allison's efforts to increase our innovation pipeline across commercial duty mobility and work solutions."
To learn more about Allison Ventures, visit allisontransmission.com.
About Allison Transmission
Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of propulsion solutions for commercial and defense vehicles and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has approximately 1,600 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.
About EnerTech Capital
EnerTech Capital is a globally recognized venture capital firm that has been investing and partnering with innovators since 1996, empowering entrepreneurs to build transformative technology companies. The firm has pioneered an integrated approach to business building, leveraging strategic collaboration across a diverse stakeholder ecosystem to create value; with a focus on Mobility, Industry 4.0, and Connected Customer. EnerTech's current platform has a significant focus on emerging opportunities in the mobility space across Electrification, Autonomy, Smart Mobility, and Connectivity. The firm has a long history of working with corporate strategic investors and providing value added insights and partnership opportunities to support growth and innovation objectives.
EnerTech has offices in Toronto, Philadelphia, Palm Beach Gardens, Boston, and Orange County.
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SOURCE Allison Transmission Holdings Inc.