Columbia, SC – South Carolina Research Authority announces its affiliate, SC Launch Inc.’s, third investment in Viatec. The Piedmont-based company provides ‘plug-and-play’ electronic power take-off systems that optimize energy efficiency and reduce diesel emissions and noise pollution for utility and other fleets.
Viatec became an SCRA Member Company in 2017 and received a $25,000 Project Development Fund Grant and a $46,000 Demonstration Grant. It became an SC Launch Inc. Portfolio Company in 2018 when it received its first investment of $250,000. Viatec received a second investment of $200,000 in 2020. This new, third investment equals $300,000.
Viatec’s electrification solutions, SmartPTO, SmartPX, and SmartAPU, lower fuel and maintenance costs and reduce emissions while creating a clean, quiet worksite. They provide an affordable, green solution for commercial vehicles in the utility, telephone, construction, and delivery industries,” said SCRA Senior Investment Manager Steve Johnson. “Viatec also has several other systems to eliminate constant diesel idling in large vehicles, such as EMS trucks, and maintaining power and temperature in tractor-trailer driver cabins.”
“Our continued success is due to trusted partners like the teams at SCRA and SC Launch Inc. They’ve been with us for many years as we’ve refined and grown our product offerings,” said Viatec President and CEO Mark Ferri. “This investment will allow us to continue scaling to make our solutions available to more utility fleets and other customers.”
“Viatec is an exemplary company offering innovative and sustainable products and services. Their superior customer service rounds out a company positioned for continued growth in the auxiliary power industry,” said SCRA President and CEO Bob Quinn.
Viatec was recently featured in an industry article highlighting best practices for converting utility fleets to electric vehicles. It was published by Viatec customer Terex Utilities and focused on Viatec’s innovative electric power take-off systems that eliminate engine idling.
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Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and investment funding to qualifying SCRA Member Companies. The returns on this funding provide additional coaching and grants to next-generation technology startups.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority fuels the state’s innovation economy through the impact of its comprehensive services to technology-based startups, academia, and industry. SCRA provides funding and support to accelerate the growth of academic startups; high-quality lab and administrative workspaces; facilitation and funding for partnerships between and among industry, startups, and academic institutions; assistance and funding for the relocation of technology-based companies to South Carolina; and coaching and funding for startups that may also receive investments from its affiliate, SC Launch Inc.
Media Contact
Adrianne Grimes
Director of Marketing and Communications, SCRA
adrianne.grimes@scra.org
