Allison Ventures, Allison Transmission's venture capital arm, recently committed to a $10 million investment in EnerTech Capital, a venture capital firm focused on the development of emerging technology and business models in the mobility space.
The partnership will enable Allison to access EnerTech's vast network of high-tech companies advancing automotive technologies such as electrification, connectivity, autonomy, and digitization.
"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."
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Through EnerTech's network, Allison Ventures will be able 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, VP of 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."
