Lyon. France (ots/PRNewswire)
- An independent French
company, MCE-5 DEVELOPMENT has been carrying out innovative R&D for
over 10 years to develop its fuel-efficient gasoline engine, the
MCE-5 VCRi. To date, over 55 million euros of investment have made it
possible to materialize this engine project, to which another 10.3
million euros will be added in October 2001, raised by the company's
historic private shareholders and new qualified investors.
The success of the capital increase is due to the renewed
participation of its historic shareholders but also to the interest
of new investors. Michel Mulliez, the largest shareholder and a
director of MCE-5 DEVELOPMENT since 2002, considers "this innovative
project as the realization of a visionary idea that will go down in
automotive history [...], overcoming the problems of current
technology [...], today, the results achieved fully justify the risks
taken and the technical results guarantee commercial success [...]".
The automotive industry must, now more than ever, face
constraints linked to environmental, energy, and economic stakes.
MCE-5 VCRi technology can provide an answer: MCE-5 VCRi, a variable
compression ratio gasoline engine that significantly reduces fuel
consumption and CO2 emissions, by up to 45%. It combines the
technological advances made on both Diesel engines and gasoline
Since its beginnings, MCE-5 DEVELOPMENT has been backed in all
its investments by French institutions whose main mission is to
foster innovation, as well as by private and industrial investors.
The company currently has roughly 350 shareholders.
The 10.3 million euros raised during the last capital increase
will provide significant financial independence to this company [D1]
that employs a staff of nearly 40 people, including thirty engineers,
and that works closely with over 60 partner companies throughout
France and Europe. Its CEO Jean-Francois Roche, a shareholder and
director of MCE-5 DEVELOPMENT, underscores that "many of our 350
shareholders consider that their investment in the share capital of
MCE-5 DEVELOPMENT represents above all a commitment to a long-term
project, in the framework of a technological, economic and human
adventure. Some invested when the company was created 10 years ago,
when the project was still in its early stages, sensing its visionary
nature [...], today, the results delivered by the engines on the test
bench and by the demo car have proven them right and are drawing new
investors. As a result, MCE-5 DEVELOPMENT is opening up to these new
investors, with an additional aim: to widen the already extensive
network made up by its current shareholders".
The first prototype vehicle was very well received by French
journalists when presented in mid-September 2010. With the backing of
a consortium of 12 European companies, essentially Tier-1 OEMs, the
current short-term focus of the project is the commercialization of
the technology to carmakers in order to begin the mass production of
the MCE-5 VCRi engine by 2016-2017.
Website : http://www.vcr-i.com
ots Originaltext: MCE-5 DEVELOPMENT SA
Im Internet recherchierbar: http://www.presseportal.ch
CONTACT: MCE-5 DEVELOPMENT S.A.: Press contact: Madeline VASSAUX
, Direct line : +33-4-72-00-42-30 - mobile
:+33-6-45-50-71-43. MCE-5 DEVELOPMENT S.A. - Immeuble Le Danica, 21
avenue,Georges Pompidou 69486 Lyon Cedex 03 - France