Torvec’s unique combination of innovation, design and engineering creates advanced, proven vehicle differentials and hydraulic pump technologies, dramatically better than anything on the market. If you need superior traction, performance, handling and safety, we’re the experts. If you want compact, high-efficiency, lightweight mobile hydraulics, count on us. Chances are if it drives, flies, or sails, we can enhance your technology with greater performance and value.
Company Intends to Raise Up to an Additional $1.0 Million
ROCHESTER, N.Y., March 28, 2014 (GLOBE NEWSWIRE) -- Richard A. Kaplan, Chief Executive Officer of Torvec, Inc. (OTCQB – TOVC), announced today that the Company has raised $5.0 million in a private placement transaction involving a new series of preferred stock. In connection with this investment in the Company, a total of 25,000,000 shares of Series C-2 Voting Convertible Preferred Stock were issued to a small group of investors.
At its Annual Meeting on June 19, 2013, the Company announced that its current test phase of its IsoTorque differential for use in Models C5 & C6 Corvettes has been completed, and that this product is technically ready for entry into the aftermarket.
Torvec Annual Meeting
Torvec has entered into an agreement with Chinese automotive manufacturer, BAIC Motor Co., Ltd.
Visit our Torvec store to order IsoTorque differentials.