Viatec, a US-based manufacturer of plug-and-play electronic power take-off (PTO) systems that support the electrification of utility fleets, has secured investment from Terex and Duke Energy.
Terex, a manufacturer of aerial work platforms and materials processing machinery, led the Series B investment round, securing one of five seats on Viatec’s board.
Terex Utilities has been working with Viatec since 2019, focusing on plug-in PTO solutions for the electric utility industry.
It offers SmartPTO on a variety of its utilities products, which eliminates noise and carbon emissions, lowers operating costs and extends the life of utility equipment by reducing engine operating hours.
John L. Garrison, Jr., Terex Corporation Chairman and Chief Executive Officer said: “Viatec has developed an electrification solution for utility customers that is highly effective and easy to use. Our investment in Viatec will enable the company to scale production and make its offering more widely available to electric utility and other customers.”