A Chandler-based engineering company has raised $2.5 million through crowdfunding over the last six months to fuel development of an eco-friendly alternative to rubber tires.
Founded in 2011, Global Air Cylinder Wheels said the air suspension wheel, which is in the pre-production phase, is a patented airless mechanical design primarily constructed out of steel with in-wheel suspension.
The company has been developing the air suspension wheel for use by over-the-road mining trucks since 2015, at a gold mine site in South Africa, because of the amount of tires the industry uses each year. The latest version is being tested on a dump truck at a gold mine near Elko, Nevada. The wheel is designed to be safer — no overheating tires — and to last as long as the vehicle it is on, the company said.
According to Global Air Cylinder Wheels, the new air suspension wheel combines an inner steel hub with an outer steel drum which is connected by eight to 12 nitrogen-filled air cylinders and four to six oil-filled dampers that provide suspension. On the outer drum, individually bolt-on steel or polyurethane treads are fitted. The individual treads can be replaced without removing the wheel.
“The ASW is so much more than just another wheel,” Zoltan Kemeny, president and CEO of Global Air Cylinder Wheels, said in a statement. “As opposed to the traditional pneumatic tire providing suspension outside the rim, the ASW suspension is located inside the wheel. Essentially, our wheels become part of the vehicle's overall suspension system. Our wheels are an effective and viable option to rubber tires. They are cost-efficient, safer, and are better for the environment, and for those industries that rely heavily on tires.”
Raised $4M to date
Global Air Cylinder Wheels is headquartered at San Tan Corporate Center II at 3100 West Ray Road and has four employees, with three working on design and engineering in the Valley. The company is looking to hire a project management/operations manager and an unspecified number of engineers. Manufacturing is done by OTR Wheel Engineering in Rome, Georgia.
Kemeny said the company set out to raise $1.07 million through equity crowdfunding platform StartEngine as a way to raise funds from smaller nonaccredited investors and friends and family. But he said it turned out to be more popular than expected and more than double that was raised.
According to the company, Global Air Cylinder Wheels received its first patent in 2015, its first angel investment at the end of 2018 and began testing the latest products in 2019. While the pandemic stalled the business in 2020, the company received its first sales and began generating revenue in 2021.
So far, the company said it has raised $4 million and is looking to ramp up the production of its wheels with its partner OTR Wheel Engineering this year.
“At this point, our plan is to expand our distribution network and really start taking the OTR tire industry by storm,” Kemeny said in a statement. “GACW’s focus is catering to the demand from miners seeking viable tire solutions, and it is a substantial market for us. However, the ASW technology can be applied to all verticals where traditional rubber tires are used, and this market is immense. Our wheels are gaining the traction we need to thrust us into the main market.”
The company is currently still looking to raise another $5 million to $7 million, company officials said.
