Arpa-E, the US government advanced energy research project, reinvests in compressed gas refuelling technology spinout Onboard Dynamics, contributing to $3m round.
Onboard Dynamics, a US-based company that works in the compressed natural gas sector, has raised $3m from a group of investors including the US Department of Energy’s Advanced Research Projects Agency – Energy (Arpa-E).
Arpa-E was joined in the round by the Portland Seed Fund, utility company NW Natural and undisclosed private investors.
Founded in 2013, Onboard Dynamics is a spinout of Oregon State University that has developed a compressed natural gas refuelling system to support the adoption of compressed natural gas vehicles. The technology uses the vehicle’s own engine to power the compression when refuelling.
The company has also created a standalone mobile compressor system that is self-powered.
The funding will be used to achieve financial sustainability and to complete the development, testing and market introduction of the company’s first products.
Onboard Dynamics previously raised an undisclosed amount of seed funding from Arpa-E, Oregon State University, the Portland Seed Fund, Onami and Oregon Best, according to its latest press release.
In 2012, a statement on the Arpa-E website reported that Onboard Dynamics was awarded $3.9m from as Colorado State University and Oregon State University.
– This article first appeared on our sister site Global Government Venturing.
