Market for Products Expanding; Companies Looking to Offer Lines With Unmatched Overall Performance
SAN DIEGO, July 25, 2011 (GLOBE NEWSWIRE) -- Fallbrook Technologies Inc. (Fallbrook), developer and manufacturer of NuVinci continuously variable planetary (CVP) transmissions that are designed to increase battery life and performance of electric vehicles, and well-known manufacturer of electric vehicles (EVs), Tomberlin Group (Tomberlin), along with TEAM Industries (TEAM), a leading designer and manufacturer of drivelines, announced today the acceleration of their joint development activities.
In January, 2011, Fallbrook announced a partnership with TEAM Industries to develop electric vehicle transmission prototypes. The first initiative under that joint effort was with Tomberlin and their new Anvil™ electric city car. Subsequently, Fallbrook, TEAM and Tomberlin have expanded the focus of their cooperative efforts and will explore the application of Fallbrook's NuVinci technology to additional Tomberlin product lines.
According to William G. Klehm III, Chairman and ceo of Fallbrook Technologies, Fallbrook, TEAM and Tomberlin now believe market growth and the benefits of Fallbrook's NuVinci CVP technology make it appropriate to expedite their schedule of integrating NuVinci technology into Tomberlin's Anvil™ while also evaluating similar initiatives with other Tomberlin product lines.
"The demand for electric vehicles with improved range and capabilities is growing very rapidly, compelling us to speed up our development timeline to meet the rise in projected interest," said Klehm. "We've engaged in additional strategic discussions with our valued partners, Tomberlin and TEAM, to make this a reality in the near term."
"The drive toward electrification of transportation will require a number of technically innovative components and systems," said Tony Passanante, Senior Director of Marketing and Strategic Planning for TEAM Industries. "Our work with Fallbrook will reshape the electrification of powertrains and will deliver performance enhancing benefits that riders and the market are demanding."
"Together, we're in a terrific position to make eco-friendly transportation exciting and feasible for the global market," said Mike Tomberlin, a member of Tomberlin's leadership team. "Our partnership with Fallbrook and TEAM will give our fleet added operating performance advantages such as improved hill climbing ability, acceleration capabilities and towing capacity in addition to other rider benefits. The concept is catching on at a great pace, and we're laying the foundation to meet this demand!"
Fallbrook Technologies has demonstrated that its technology can extend the capabilities of certain light electric vehicles. Unlike conventional gear and clutch transmissions, the NuVinci CVP uses a set of rotating and tilting balls positioned between the input and output components of the transmission that adjust to vary the speed of the transmission. Tilting the balls changes their contact diameters and varies the speed ratio. As a result, the NuVinci CVP offers a seamless and continuous transition to any ratio within its range in a compact, easy to manufacture and cost effective package that improves system performance.
Tomberlin is an emerging global brand with community-based distribution throughout North America, Europe and Asia. Recognized for channel creation, innovative electric vehicle platforms and rapid product development, Tomberlin leads the low speed electric category with over ten models including a Carroll Shelby Edition. Tomberlin's product diversity includes Golf, Personal Transportation, Neighborhood Electric, Vanish™ electric 4x4 Utility Vehicles, ATV's and Schwinn Scooters. Tomberlin's vision is to create the next generation of task specific electric City Cars to capture the expanding market of short distance vehicle use. More information is available at www.tomberlin.net.
About TEAM Industries
TEAM Industries designs and manufactures systems that take power and put it to work quietly and efficiently. Driving innovation with six locations throughout Minnesota and North Carolina, headquartered in Bagley, Minnesota, TEAM has been developing performance and reliability enhancing components for original equipment manufacturers since 1967. More information is available at www.TEAM-IND.com or www.facebook.com/teamindustries
About Fallbrook Technologies Inc.
Fallbrook's NuVinci continuously variable planetary (CVP) technology improves the performance and efficiency of machines that use a transmission, including bicycles, electric vehicles, automobiles, agricultural equipment, wind turbines and others. The NuVinci technology offers companies the flexibility to design and produce next-generation products that are better tailored to their unique business, market and competitive requirements. An example of a next generation product is a NuVinci CVP that controls the speed of automotive accessory drives (including air conditioning compressors, alternators, and superchargers) independently of engine speed, thereby improving fuel economy or increasing performance or both.
Fallbrook has built an extensive portfolio of over 400 patents and patent applications worldwide. The company intends to continue its research and development activities to enhance the performance and capabilities of NuVinci technology.
For more information, visit www.fallbrooktech.com