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 states it 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," says 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 states it 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, the company says.
"EnerTech seeks to redefine the mobility sector through investments in companies that are shaping the future of the industry," says 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."
