San Jose, California
September 14, 2012
San Jose startup, Wrightspeed, will receive a $5.8 million grant from the California Energy Commission (CEC) for Advanced Vehicle Technology Manufacturing. The grant is part of the CEC’s Alternative and Renewable Fuel and Vehicle Technology Program. The scoring criteria were: project feasibility, project budget, match funding, economic benefit, qualifications of project team, and market development; Wrightspeed received the highest application score of the applicants.
The grant funds will accelerate manufacturing of Wrightspeed’s Route™, a retrofit powertrain for the medium duty commercial fleet market, which boasts 2 million trucks in the US alone. The jobs created within Wrightspeed will be full time positions, and the grant will indirectly catalyze hundreds of California jobs, through suppliers and the end users of the Route™.
“The City of San Jose congratulates Wrightspeed for winning a California Energy Commission grant for advanced vehicle technologies,” said San Jose Mayor Chuck Reed. “I’m pleased that the company will be adding manufacturing and testing jobs in San Jose.”
Wrightspeed founder and CEO, Ian Wright, stated, “We are excited to accelerate development of our electric drive technology with this grant. We strongly endorse the Energy Commission’s vision of energy independence, cleaner vehicles and creating high skill, high wage jobs in California.”
During 2010 and 2011, Wrightspeed raised $10 million in private investments, some of which was used as matching funds for the company’s prior CEC grant for $1.2 million. Since cutting the ribbon on their San Jose facility April 7th, 2011, Wrightspeed has proven their powertrain technology in several trucks that are now in customer trials for validation and testing.
Wrightspeed demonstrated their Route™ powertrain the Hybrid, Electric, and Advanced Truck Users Forum National Conference and Expo (HTUF), in Charlotte, NC. HTUF is the nation’s premier event for advanced vehicle technologies in the medium and heavy-duty industries.