Christini Technologies Inc. announced the completion of a $3 million equity financing round. The financing was led by Matthew Trattner, President of Tradewise LLC, a group of Wall Street investors including Mr. & Mrs. Vincent Viola, former NYMEX Chairman.
CHRISTINI AWD has been a pioneer in the design and development of proprietary All Wheel Drive Systems ("AWD") for motorcycles and bicycles. The affordable, lightweight AWD system distributes power between the front and rear wheels with virtually no power loss. The new funding will be focused on the production launch of the revolutionary AWD Motorcycle, scheduled to be available in the fall of 2006.
As a motorcycle enthusiast and former manager of Mr. Viola's Pioneer Trading Group, Mr. Trattner will be actively involved in the promotional and development activities of the CHRISTINI AWD motorcycles and he will also assume a seat on the CHRISTINI Board of Directors. "I am confident that the CHRISTINI AWD technology will revolutionize the off road riding experience for both beginner and expert riders," stated Mr. Trattner. "I look forward to working closely with the company and making AWD as pervasive in the motorcycle industry as it is in the automobile industry."
Steve Christini, founder, President and the inventor of the AWD technology, commented: "We are pleased to be backed by Matthew Trattner and Tradewise LLC, a group that truly understands the potential for the AWD technology we have developed. Strong financial backing is critical to ensuring our success and we are confident CHRISTINI AWD is now positioned for significant market exposure and very dynamic growth in 2006 and 2007."
CHRISTINI's AWD motorcycle technology features a durable rigid series of shafts and gears to power the front wheel. The proprietary AWD system is entirely enclosed within the frame and head tube of the motorcycle and is extremely efficient, resulting in less than 1% power loss while adding less than 15 lbs total weight to the motorcycle. Traction and safety in wet and treacherous terrain both on and off road are dramatically improved by AWD and in testing, AWD has enabled a broad range of riders to achieve performance levels far superior to a normal rear wheel drive motorcycle. "Our system is race tested, durable and most importantly for the business, highly sought-after by pro riders and weekend enthusiasts," explained Steve Christini. "We look forward to a successful summer of racing and the near-term commercial launch our product."
The CHRISTINI AWD motorcycle has been very favorably reviewed in more than 10 industry publications. Most recently, the October 2005 issue of Trailrider Magazine proclaimed: "We need to own one of these bikes. This is it. [AWD] is the wave of the future. Once AWD bikes become available, off road riding will never be the same. The AWD system makes all the difficult riding easier and makes the marginal riding safer and more surefooted. And the fact that it can do it without robbing a ton of horsepower is incredible."
CHRISTINI AWD plans a rollout of 10+ racing AWD motorcycles by summer 2006 providing a first-hand demonstration of the AWD technology across the eastern seaboard. A limited production run of the CHRISTINI AWD frame kit, custom designed to fit the 2005 and 2006 Honda CRF250, will be available by the fall of 2006.
Christini Technologies was founded by Steven Christini in 1999 and previously received funding from Philadelphia angel investment groups and Ben Franklin Technology Partners of Southeastern PA.
Individuals interested in reserving one of the limited 2006 models should call 215-351-9895 or visit the CHRISTINI AWD website at www.christini.com.