Terex invests in electric PTO specialist
By Mike Brezonick01 February 2022
Terex announced it has made an investment in Viatec, Inc., a South Carolina-based manufacturer of plug-and-play electric power take-off (PTO) systems that support electrification of utility fleets.
Terex did not disclose the specifics of its investment, but said it is the lead investor in the Series B investment round along with other participants including Duke Energy. In conjunction with its investment, a Terex representative will fill one of five seats on Viatec’s board.
Terex Utilities has actively worked with Viatec since 2019, focusing on plug-in PTO solutions for the electric utility industry. Terex offers flagship product, the SmartPTO, on a variety of its Utilities products. SmartPTO is a lithium-ion battery-based, universal PTO that eliminates the need to idle utility trucks, which reduces noise and carbon emissions, lowers operating costs and extends the life of utility equipment by reducing engine operating hours.
“Viatec has developed an electrification solution for utility customers that is highly effective and easy to use,” said John L. Garrison, Jr., Terex Corp. chairman and chief executive officer. “Our investment in Viatec will enable the company to scale production and make its offering more widely available to electric utility and other customers.”
“We are excited to take our company capabilities to the next level,” said Mark Ferri, Viatec’s President and Chief Executive Officer. “We look forward to our continued partnership with Terex and appreciate the company’s investment.”
The clock is ticking… Construction workers in New York City – have you fulfilled your required Site Safety Training (SST)? Get your SST card online now
The gold standard in market research
Off-Highway Research offers a library of more than 200 regularly updated reports, providing forensic detail on key aspects of the construction equipment industry.
Our detailed insights and expert analyses are used by over 500 of the world’s largest and most successful suppliers, manufacturers and distributers, to inform their strategic plans and deliver profitable growth.