Local Company Semi-Finalist In National $1 Million Business Plan Competition
ENRG Power Systems, a StartGarden recipient, is recognized as a semi-finalist in
Accelerate Michigan Innovation Competition
Grand Rapids, MI– Local entrepreneurial company and StartGarden investment, ENRG Power Systems LLC is announced as a semi-finalist in the Accelerate Michigan Innovation Competition – North America’s largest business competition. The competition is an international business contest aimed at fostering entrepreneurial growth throughout Michigan’s vibrant business community.
For the third year in a row, ENRG Power Systems LLC – the nation’s premiere supplier of advanced ignition system technologies such as the ENRG Power System® – has been recognized as a semi-finalist in the world’s largest business plan competition. This year’s competition attracted over 300 company entrants from across the United States, Canada, India and Africa.
After an intense review process by the judge’s panel, 53 semifinalists were selected to compete for more than $1 million in cash and prizes. Businesses worldwide from as far as Canada, the United Kingdom and across the United States, submitted post-patent ideas for this year’s contest.
“The Accelerate Michigan Innovation Competition continues to grow and help start-up technology-based companies accelerate their growth curves. As the first two-time Sector Award winner, being selected again as a semi-finalist is a testament to the value of our business proposition, in the eyes of a very sophisticated investing and judging community recruited from across North America” said ENRG Power President and CEO, Milton Roye. “Our ignition system improves the fuel economy of trucks and vans by 14-21 percent on a retrofit basis, providing much of the fuel economy and emissions advantages of hybrids to vehicles already in service but at a fraction of the cost. This value proposition resonated as well with the judges as it does with our rapidly growing customer base.”
“The power to reinvent Michigan is being generated in large measure by creative, talented, and driven entrepreneurs and innovators in every corner of the state,” Governor Rick Snyder said. “The Accelerate Michigan competition provides a great opportunity to harness this positive energy and turn it into new businesses, cutting-edge technologies, and more and better jobs.”
Advanced combustion systems such as the ENRG Power plasma ignition – using non-thermal plasma pulses, generated in timescales measured in nano-seconds – will be one of the key enablers of improved fuel economy and cost efficiency both today and in the future, particularly for owners and operators of vehicle fleets. With fuel prices hovering around $4.00 per gallon, a 2,500-truck fleet averaging 12 mpg and adopting the ENRG Power ignition technology will save over $3.4 million per year and reduce CO2 emissions by nearly 17 million pounds per year. ENRG Power Systems is the first company to successfully implement these ignition technologies in a system for gasoline-engine vehicle fleets.
Roye added, “We started with a groundbreaking technology; but it is the vetting of our business by Accelerate Michigan and our innovative partnerships which are getting major community leaders to introduce us to potential fleet customers. This is positioning us to accelerate our sales and marketing efforts with light- and medium-duty fleet customers – saving them hundreds of dollars per truck per year in gasoline expenses, while improving their carbon footprints – and to continue our growth across Michigan and the U.S.”
The Competition Finals and Gala Awards Celebration will be held the evening of November 15, 2012 at Detroit’s historic Orchestra Hall, where Accelerate Michigan and its partners will award more than $1 million in cash prizes, along with millions more of in-kind awards to those businesses showing the most promise. For information about the Accelerate Michigan Innovation Competition, visit www.acceleratemichigan.org.
About ENRG Power Systems:
ENRG Power Systems LLC is the nation’s premiere supplier of advanced ignition system technologies such as the ENRG Power System®, which improves the fuel economy of light- and medium-duty vehicles by 14-21 percent. Better yet, it reduces greenhouse gas emissions by 15-55 percent. With the ENRG Power System®, your fleet fuel management problems will be significantly reduced. You don’t have to wait for the future to get cleaner-burning engine technology; tomorrow’s advances are available right now, as a retrofit system for trucks, vans and commercial vehicles on the road today.
For more information please visit www.ENRGpower.com.