Vnomics Corp. announced Lockheed Martin Corp., an original investor, will further invest in the company and the development of its latest technology, True Fuel.
The amount was not disclosed.
True Fuel is a tablet-size device that precisely monitors each vehicle’s actual fuel usage in real time and compares it with the maximum achievable fuel economy, or potential miles per gallon, for that vehicle under its current load and operating conditions, the company said.
True Fuel then coaches drivers in the cab to achieve the highest fuel efficiency and provides comprehensive data fleets can use to optimize fuel performance and improve profitability, according to Vnomics.
It can be used in conjunction with any telematics or onboard technology platform, Rochester, New York-based Vnomics said.
As an original investor, Lockheed Martin was involved in early technology development at the company and has deployed Vnomics’ on-vehicle analytics software framework, on which True Fuel was built, in advanced military applications, the company said.
“To me, Lockheed Martin’s decision to further invest signals their satisfaction with the strides we’ve made in developing this technology as well as Vnomics’ prospects moving forward,” Vnomics CEO Alan Farnsworth said in a statement.
Lockheed Martin, a security and aerospace company, is based in Bethesda, Maryland.