February 6, 2008
CI invests $750K in Oil Purification Systems
The state's technology investment authority, Rocky Hill-based Connecticut Innovations, has provided $750,000 in funding to Oil Purification Systems Inc. through the Eli Whitney Fund.
Shelton-based OPS designs and manufactures an oil-refining system that eliminates contaminants in engine oil, virtually eliminating the need for routine oil changes. The technology is currently installed in thousands of vehicles around the world.
"CI is pleased to help advance the OPS products with our funding," Peter Longo, CI president and executive director, said in a statement. "We were impressed by the rapid market adoption of the OPS-1 system, which is clearly also impressing the company's growing base of customers. No doubt, these customers appreciate the fact that, once installed, the OPS-1 system typically pays for itself in less than a year."
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