Wrightspeed raises $5 million from a Private Investor

Wrightspeed raises $5 million from a Private Investor

Ian Wright, founder and CEO of the Silicon Valley based company Wrightspeed has announced he has raised $5 million for Wrightspeed from a private investor on November 4, 2010. The Company that is best known for its X1 Prototype newly acquired $5 million will be used for improvement of its Digital DriveSystem (DDS), an electric drive system with low fuel consumption and exceptional performance.

Wrightspeed Inc. was founded in 2005 by Ian Wright who was also one of the founders of Tesla Motors Inc. where he helped develop the Tesla Roadster. In Wrightspeed, Ian Wright led the construction of the X1 Prototype which can accelerate from 0 to 60 mph in 2.9 seconds only and has the maximum speed of 104 mph which makes it the fastest electric powered street-legal car in the world.

The Silicon Valley based Company that is undoubtedly best known for the X1 Prototype says it is focused on incorporation of its one of a kind Digital DriveSystem into high-performance sports cars and trucks (medium to heavy duty). The Digital DriveSystem technology provides exceptional energy efficiency without compromising performance and safety. In addition, Wrightspeed Digital DriveSystem is very light which means that there is no payload penalty. It also offers a short payback time due to savings on fuel. The Company estimates that its Digital DriveSystem will displace over 3,000 gallons of fuel per year in high-usage cars. The same technology will be used in both sports cars and medium to heavy-duty trucks.

The Wrightspeed Digital DriveSystem includes a battery system, software control plane, electric motors, vehicle dynamics control, generator control system, drive electronics and user interface. Due to small motor sizes and high performance the technology can be easily incorporated into a large number of vehicle designs with little or no customization.

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