California, USA. - June 2005- Direct Drive Systems was one of three companies chosen as Best of Show at the Larta Institute's 2005 Venture Forum that took place in Los Angeles May 25th and 26th. Attending investors served as judges for this year's Venture Forum Best of Show awards, representing a cross-section of institutional, corporate, venture capital and angel investors.
This year's Venture Forum, held at the Wilshire Grand Hotel in Los Angeles, featured an extended 2-day format, showcasing 130 companies. The second day of the forum was devoted to technology companies from Southern California, companies funded by NIST's Advanced Technology Program (ATP), companies working under the US-Israel Science and Technology Foundation (USIFTF), and several nanotechnology companies in a special Tiny Tech Pavilion.
"My colleagues at Direct Drive Systems and I are thrilled at winning the Best of Show award given the number of high quality presentations that were made at the Venture Forum," said Tom Smith, President of DDS.
"These companies deserve special commendation for winning Best of Show in a year that featured a tremendous number of high-quality companies. The judges had a hard time deciding and the count was very close right up to the last minute," said Rohit Shukla, Larta Institute's CEO. "All the companies that presented this year should feel proud of their performance. We look forward to hearing about their success in the future."
About Direct Drive Systems
Direct Drive Systems, Inc. (DDS) will produce a line of high-speed high-power motors and alternators. These particular motors and alternators are significantly more efficient and cost effective compression and generation solutions to the multi billion dollar natural gas and LNG industry. DDS has developed its first 2MW (2600 HP) 23,000 rpm product and has secured long term contracts with two large global OEMs. Additionally, DDS will develop an 8MW (10,500 HP) 15,000 rpm by 2006.
DDS is a subsidiary of Calnetix, a privately held high tech company based in California, USA, is the industry leader in high speed motors, generators, magnetic bearings, and integrated magnetic drive systems. The companys products are utilized in distributed power generation, power conditioning, gas processing, semiconductor manufacturing, automotive, medical equipment and other industries worldwide.
About the Larta Institute
Larta institute connects people to drive innovation. Larta accelerates the transition of cutting-edge technologies to the marketplace. Larta connects people, technology, and capital to help companies grow. Larta creates and manages the innovation pipeline. Since 1993 companies helped by Larta Institute have raised over $1.5 billion in capital. Larta's conferences and seminars provide insights to thousands of businesspeople each year. To learn more about the Larta Instutute, visit their website at www.larta.org.
