TEAM Industries Licenses Fallbrook Technologies' NuVinci® Continuously
Variable Transmission Technology for Light Vehicle Applications
? TEAM and development partner ready for next-generation electric vehicles -
BAGLEY, Minn. and SAN DIEGO, Nov. 19, 2012 /CNW/ - Fallbrook Technologies Inc.
and TEAM Industries, Inc. (TEAM) today announced that their development
partnership has continued to progress and the two have entered into an
exclusive licensing arrangement for the use of NuVinci® CVP (continuously
variable planetary) technology in North America and Europe for electric and
gasoline light vehicle applications.
"TEAM and Fallbrook have been working since 2011 to validate the benefits of
the NuVinci technology for TEAM's products," said William G. Klehm III,
Chairman and CEO of Fallbrook. "We have now signed an exclusive agreement to
begin the commercialization of NuVinci products for TEAM's customers. We're
pleased with the progress to date and look forward to assisting TEAM in moving
forward rapidly. "We believe our innovative NuVinci technology can enable
entirely new categories of vehicles," Klehm added. "And we are working with
high quality manufacturers like TEAM to produce NuVinci CVP transmission
products for their customers, the vehicle manufacturers."
The licensing arrangement between TEAM and Fallbrook includes exclusive
manufacturing rights for TEAM's light utility and recreational vehicle
families for North America and Europe and includes an engineering services
agreement (ESA) for the development of a NuVinci vehicle transmission, with
development running through 2013 and into 2014. The agreement also provides
for royalties with commercialization volume milestones beginning in 2015.
"TEAM is dedicated to driving innovation which is why we are so excited about
the NuVinci technology and our agreement with Fallbrook", says David Ricke,
TEAM CEO, "the NuVinci CVP will provide our customers with an advanced
drivetrain solution that improves performance, efficiency and reliability."
TEAM is the largest supplier of rubber belt continuously variable
transmissions (CVTs) to the All-Terrain Vehicles (ATVs), Utility Terrain
Vehicles (UTVs), Low/Medium Speed Vehicles (LSVs/MSV's), and Neighborhood
Electric Vehicles (NEVs) markets, all of which are included in Fallbrook's
license to TEAM.
About NuVinci® CVP Technology
First commercialized in a continuously variable transmission (CVT) for
bicycles, now in its second generation as the NuVinci N360™, NuVinci
Technology is applicable to a wide variety of applications including bicycles,
light electric vehicles, primary transmissions for automobiles, trucks and
commercial vehicles, lawn care equipment and wind turbines. NuVinci
technology offers companies the flexibility to design and produce
next-generation products that are better tailored to their unique business,
market and competitive requirements.
Instead of the traditional gear and clutch mechanisms found in conventional
transmissions, a NuVinci transmission utilizes a set of rotating spheres that
are arranged around a central "sun" that transfers torque between two "rings."
Tilting the spheres changes their contact diameters on the rings, permitting
an infinite progression of speed ratios. The result is a smooth, seamless and
continuous transition to any ratio within its range, maximizing overall
powertrain efficiency and ride quality.
For more information about NuVinci® CVP Technology, visit
About TEAM Industries
TEAM Industries is a vertically- integrated engineering and manufacturing
company that has been driving innovation in performance and
reliability-enhancing components for nearly half a century. Headquartered in
Bagley, MN, TEAM offers a complete range of services, from collaboration on
new product designs to custom contract manufacturing. Their principal products
include transmissions and transaxles, axles and four-wheel-drive systems,
continuously variable transmissions (CVTs), and electric vehicle drivetrains.
For more information, visit www.team-ind.com
About Fallbrook Technologies Inc.
Fallbrook Technologies Inc. is a privately held technology development company
headquartered in San Diego, California and has its primary operations and
product development activities located in Cedar Park, Texas, with employees
and other operations in Michigan, China and Europe. Current major investors
are Robeco, NGEN Partners LLC, Macquarie and Allison Transmission Holdings
Inc. Fallbrook has built an extensive portfolio of over 500 patents and
patent applications worldwide. For more information, visit
Dan Katona, Fallbrook Technologies Inc., +1-858-623-9557, X123,
firstname.lastname@example.org; or Jason Rasmussen, TEAM Industries,
SOURCE: Fallbrook Technologies Inc.
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