TM3 Systems is spinning out technology developed at
NextEnergy that is expected to make energy use in remote locations much more efficient.
The Royal Oak-based start-up's product meters, controls and conditions power usage in remote locations. The technology's grid monitoring and automatic generation and demand control optimizes off-grid power use.
"We see an incredible opportunity to increase the efficiency of power distribution in off-grid power applications that saves fuel and increases the effectiveness of those systems," says Nate Lowery, CEO of
TM3 Systems.
The 8-month-old start-up and its team of three people have raised $750,000 in seed capital, including $250,000 from the
Michigan Pre-Seed Capital Fund. It is aiming to raise more than $1 million in a seed capital round later this year. That money has allowed the company to build its prototypes, of which it has already sold six units.
"We are in the process of signing contracts as we speak," Lowery says.
Source: Nate Lowery, CEO of TM3 Systems
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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