Retired State Rep. Cappelli Helps Capture Funding in Support of iE2 Engine
Williamsport, PA - March 11, 2009 - Lycoming Engines, a Textron Inc. (NYSE: TXT) company, will receive a $1.5 million Redevelopment Assistance Capital Program (RACP) grant from the Commonwealth of Pennsylvania to help bring its ground-breaking integrated electronic engine, iE2, to market. Retired State Representative Steven W. Cappelli was instrumental in securing the funding.
Lycoming has been developing its integrated electronic engine for several years, moving from a well-kept secret to public introduction at the 2008 EAA Airventure air show in Oshkosh, Wis. The general aviation community lauded the advanced technology of the iE2, which helps decrease pilot engine management workload and increase fuel efficiency.
“The iE2 allows computer technology to control the engine in much the same way a team of flight engineers would,” says Michael Kraft, Lycoming’s vice president of Research, Development and Engineering. “The technology essentially frees the pilot to simply fly the plane rather than manage the engine and fly the plane simultaneously.”
The grant will help pay for further testing, development, certification and production of the iE2.
“Prior to my retirement from the House of Representatives, I pledged that I would secure funding for this project because of its importance to Lycoming Engines and our regional economy,” Cappelli said. “In order for American industries to be strong and competitive, we must continue to invest in new ideas and advanced technologies. I am proud to say that Lycoming Engines has been a leader in the area of research and development throughout their 80-year history. They continue to be highly successful and stable, despite the recent worldwide economic downturn. I am delighted to have helped secure this state assistance, which will help enable Lycoming Engines to continue to be the premier aviation engine company in the world.”
“We sincerely appreciate Mr. Cappelli’s efforts and support for our business and our vision,” said Ian Walsh, Lycoming’s senior vice president and general manager. “The iE2 is a critical part of our competitive advantage and future growth.”
The RACP is a Commonwealth grant program administered by the Office of the Budget. Since February 2003, the Commonwealth has issued a total of $528 million in RACP funds for projects in 47 counties. These state grants are expected to attract at least $2.8 billion in private investment.
The local administrator for the grant will be the Lycoming County Industrial Development Authority.
About Lycoming
Lycoming Engines specializes in Engineering, Manufacture, Service and Support of piston aircraft engines. Headquartered in Williamsport, Pennsylvania, Lycoming piston engines power more than half of the world's general aviation fleet - both rotary-wing and fixed-wing. Lycoming Engines is a division of Avco Corporation, a wholly owned subsidiary of Textron Inc. More information is available at www.lycoming.com.
About Textron Inc.
Textron Inc. (NYSE: TXT) is a $14.2 billion multi-industry company operating in 28 countries with approximately 42,000 employees. The company leverages its global network of aircraft, defense and intelligence, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.