Validation. That's what ENRG Power Systems is taking away from the
Accelerate Michigan Innovation Competition where it won the top prize in the Advanced Transportation Division.
"The continued validation of our business model, says Milton Roye, president & CEO of
ENRG Power Systems. "It helps us continue to gain traction with other resources and investors."
The
TechTown-based start-up is developing new technology that will help automotive engines more fuel-efficient and decrease the amount of green house gases they produce. The three-person firm plans to use the $25,000 Accelerate Michigan prize and a pending Michigan Microloan Fund loan to continue it engineering and marketing work.
Roye points out that his
ENRG Power Systems is close to commercializing its principal product, and expects to do $4 million in sales by the end of 2012 and $10 million in sales by the end of 2013. That growth would allow it to grow to 15-20 employees. Roye expects to land some of his first customers in 2012.
"We're hoping we will pick up our first key customers," Roye says. "I always tell people I have two dozen second customers but what's keys is those first customers."
Source: Milton Roye, president & CEO of ENRG Power Systems
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at
SEMichiganStartup.com.
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