Monday, September 8, 2008

Adura Gets Bridge Funding

Menlo Park Adura Systems, which is developing technology focused on plug-in hybrid vehicles, announced Monday morning that it has snagged a round of funding from New frontier Renewable Energy LLC, an existing investor. Amount of the bridge round was not disclosed. Adura Systems said it is developing a software and electronics platform targeted at improving fuel efficiency by "greater than 300%". The technology is being initially targeted at city bus manufacturers and delivery trucks. More information »