Diesel engine manufacturer RODI Power Systems Inc has announced it is suspending operations. The company said on its website that the closing is not due to any single event, but rather to a combination of factors, “some over which we have no control.”
RODI spent the last six years developing an engine specifically targeted at the heavy-duty truck market. RODI said it recently redirected its program to address other markets such as marine and stationary electrical power generation.
In July 2000, RODI announced it had purchased a 159,200-sq-ft production facility in Abbeville, LA, and a month later announced it was moving its corporate headquarters there from Puyallup, WA.
“We have an engine suitable for marine and stationary applications well along in development, but additional time and money are required before production can commence,” RODI chairman Byron R. Spain said on the company’s website. “To date, we have been unable to secure funding of this magnitude due in part to the downturn in the stock market made more difficult by our development stage status.”
The company said it intends to aggressively sustain Molectrol Inc., its fuel injector-manufacturing spin-off company. RODI was recently notified that its patent application for the Magnetostrictive Fuel Injector had been approved.