Ann Arbor-based solartonic took home $25,000 in prize money from last month's
Accelerate Michigan Innovation Competition and plans to put that cash toward a seed capital raise it hopes to close on next year.
The 3-year-old startup won the Alternative Energy sub-category at Accelerate Michigan, which was sponsored by NextEnergy. That money is being put toward solartonic's seed round raise of $750,000. The money will also go toward helping the company market its solar technology.
"We have an international market we need to get a foothold in so it will help us," says Brian Tell, co-managing partner of
solartonic.
The 3-year-old company is commercializing solar panel technology, which can wrap outdoor infrastructure like street lamps. The solar panels generate the power during the day so the lamps can produce light at night, especially infrastructure in remote areas.
"It's past proof of concept," Tell says. "It's just a question of refinement and getting some orders."
Solartonic currently employes 10 people.
Source: Brian Tell & Harry Giles, co-managing partners of solartonic
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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