Milton Roye believe the timing is right for the first product of his new startup, ENRG Power Systems.
Bloomfield Hills-based business is working on a new piece of technology
that will allow motorists to retrofit their engines to make them more
sustainable. The technology makes the engines more fuel efficient, as
much as 15-20 percent for V-8s, and reduces the production of all four
major greenhouse gases. Roye sees such a product as having perfect
timing in an age where going green is actually going somewhere.
“It wasn’t right 10 years ago or even five years ago,” says Roye, founder and president of ENRG Power Systems. “It is now.”
1-year-old company is composed of two people and a network of unpaid
volunteers. That team is working with TechTown to finalize its business
plan and marketing strategy so it can launch the product next year. ENRG
Power Systems is also one of the 50 semifinalists in the Accelerate
Michigan Innovation Competition.
Regardless of whether the
company wins any of the $1 million in prizes at the statewide
entrepreneurship contest, Roye and his team plan to raise $750,000 to $1
million in seed capital over the next year to launch the product in
2011. He plans to hit $1 million in sales and a staff of 10-12 people by
the end of next year.
“Our major push now is for the fleet markets,” Roye says. “That’s where we’ll build out our manpower.”
Source: Milton Roye, founder and president of ENRG Power Systems
Writer: Jon Zemke
Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.