NYSERDA Helps Folsom Technologies,
Inc. Find a Home in New York
RELEASE: IMMEDIATE, October 17, 2001
CONTACT: Tom Collins, NYSERDA
(518) 862-1090, ext. 3250.
Schodack, NY – With nearly $686,000 in support from the New
York State Energy Research and Development Authority (NYSERDA), Folsom
Technologies, Inc. (FTI) made the move from Pittsfield, MA to Schodack,
NY to develop a continuously variable transmission (CVT) for automotive
applications. The company brings with it 10 new jobs and the promise
of hundreds more in the State should its technology achieve commercial
success.
At an open house held at its new facility in Schodack's Capital
Corporate Campus, FTI celebrated its arrival to New York State. Attending
the ceremony were FTI President Lawrence R. Folsom, NYSERDA President
William M. Flynn, Schodack Town Supervisor Eileen Natoli, and Rensselaer
County Executive Kathy Jimino.
"Governor Pataki has been a tremendous advocate for creating
economic development opportunities in ways that protect our environment,"
said NYSERDA President William M. Flynn. "This is a perfect
example of how NYSERDA partners with businesses to create jobs in
New York while also working to improve energy efficiency and preserve
our environment."
CVTs are offered in a variety of foreign automobiles, and are in
the works with domestic car makers. The device combines the feel of
an automatic transmission with the high fuel economy of a manual transmission.
They transmit engine power to the drive wheels in a seamless range
of input/output speed ratios as compared to conventional transmissions,
which operate with a small number of fixed gear ratios. This saves
fuel by offering the engine's computer more options in providing the
required power at any moment. Power output is determined by a combination
of engine speed (rpm) and torque. The CVT allows the computer to select
a speed-torque combination that requires less fuel.
"New York State and NYSERDA have been helpful to us in our
efforts to develop this exciting technology," said FTI President
Lawrence R. Folsom. "The automotive industry recognizes a need
for a CVT with a high-power capability and we're confident that
our technology meets this need. With further support from NYSERDA,
we're hopeful to locate additional sources of capital to commercialize
the CVT and begin manufacturing."
FTI is developing a design that overcomes limitations preventing
CVTs from being used in trucks and large automobiles. Besides the
ability to handle more torque than competing designs, FTI's CVT appears
to be lighter and more easily fit into engine compartments. FTI anticipates
that its CVT could improve fuel economy by 15-20% under normal driving
conditions. Adding a regenerative braking system to capture and re-use
energy normally lost during braking could increase fuel economy by
an additional 30-40% under urban driving conditions. The CVT should
also be more durable than conventional transmissions since it contains
about one-third fewer parts.
FTI is testing a prototype for installation in a Ford Crown Victoria,
which was selected because it is the primary vehicle used in the New
York City taxi fleet and provides a good example of the CVT's ability
to handle tough applications. The same basic CVT could also be used
in light trucks and SUVs. A later phase of the project may involve
field testing the CVT in a taxi or other commercial vehicle. FTI expects
to begin in-vehicle tests later this year.
Ultimately, FTI plans to use the basic internals of their CVT to
produce a range of products that will meet the needs of most car makers.
The same basic parts can be configured to fit rear-wheel and front-wheel
drive vehicles, and Folsom also is preparing designs for hybrid-electric
vehicles. The company also is active in licensing its technology for
applications such as all-terrain vehicles and snowmobiles.
Senate Majority Leader Joseph L. Bruno said, "I'm thrilled
to welcome Folsom Technologies to Rensselaer County. The relocation
of Folsom Technologies to New York State reinforces our commitment
to and success in attracting technology businesses. Their decision
to take advantage of our economic development programs will help our
communities by creating jobs while helping New York build a strong
high-tech economy."
"Working with Governor Pataki and Senate Majority Leader
Bruno, we have been able to balance our town's environmental concerns
with economic growth within our community and I enthusiastically
welcome Folsom Technologies to our new Exit 10 development,"
said Eileen Natoli, Schodack Town Supervisor.
"The designs of Folsom Technologies will lead to greater
energy efficiency in our automobiles, meaning a safer and cleaner
environment, plus the company's growth potential could mean hundreds
of high-paying jobs in the near future," said County Executive
Kathy Jimino. "Capital Corporate Park is rapidly growing into
a prime host site, reflecting our continued efforts to build a diversified
economy throughout all of Rensselaer County."
If the project is successful, FTI expects to increase its workforce
to about 25 employees, but has the potential to create hundreds of
manufacturing jobs throughout the State. Depending on the size of
the market for its CVT, FTI could manufacture the device directly
or license the technology for large-scale manufacturing. FTI has begun
talking to the major car manufacturers and their suppliers, including
companies that build transmissions and have facilities in New York.
FTI also is considering the potential to establish their own production
facilities to serve niche markets such as taxis and delivery fleets.
NYSERDA is a public-benefit corporation established by the State
Legislature in 1975 to address the State energy and environmental
challenges in ways that also benefit the economy. NYSERDA helps New
York State businesses develop energy and environmental products, commercializing
the type of high-value-added products that create jobs and give New
York State businesses a real chance to compete in the expanding global
marketplace.
-30-
101701 |
