Source: Tom Ranken, Original content, August 12, 2011. Christopher Gil of WCTA member MotoVolta was one of the featured presenters at the NWEN Breakfast Buzz meeting in Bellevue this morning. MotoVolta is developing unique battery technology that will be installed in high performance electric motorcycles.
“Unlike current electric motorcycles which are used primarily for neighborhood transportation and urban commuting, we will create a machine with the capability to hold its own in the canyons and on the freeway. Our performance, progressive design, and state of the art features will separate us from the current market, while nearly silent operation and an automatic transmission will let riders experience the ride and the natural environment around them. Motorcyclists at all levels will enjoy the riding experience like never before.”
The company notes that gas powered motorcycles produce four times the pollution of an SUV. MotoVolta electric motorcycles are expected to deliver competitive performance with their gas powered competition at $0.01-0.02 per mile and with much quieter performance. They are expected to have an initial range of seventy miles.
The company is developing proprietary technology that better manages the performance of batteries. Under current technology, multiple battery schemes perform only as well as the weakest battery. MotoVolta technology monitors the utilization of batteries. It improves the performance of the entire system by exchanging energy between cells and compensating for the weakest link. Gil indicated that he believe that this is such a strong underlying strength of the company that it might become a focus in the future.
The global motorcycle market in 2010 was $62.7 billion. The company is planning to raise three rounds of capital totaling $16-17.5 million with an initial raise of $3.0-3.5 million.
The company is now building a prototype.