Inmatech Honored as One of the 2016 “Michigan 50 Companies to Watch”
Inmatech, Inc. has been recognized as one of the 2016 “Michigan 50 Companies to Watch,” an awards program presented by Michigan Celebrates Small Business. The company will be honored at an awards ceremony during the 12th annual Michigan Celebrates Small Business gala event, May 5, 2016 in Lansing, Michigan.
Inmatech is developing next-generation supercapacitor devices that incorporate low-cost, high-performance materials in proprietary designs. Supercapacitors, also called ultracapacitors, offer a combination of energy and power that complements other electrochemical storage and conversion devices, including batteries and fuel cells. A hybrid supercapacitor and battery – or supercap battery – offers the best of both worlds. Based on low-cost materials and unique cell design, the technology results in higher energy densities that extend the range and cycle lives of batteries in such a hybrid architecture.
The leadership team —Les Alexander CEO, co-founders Professor Levi Thompson, Dr. Saemin Choi, Dr. Paul Rasmussen and Dr. Stefan Heinemann — formed through the University of Michigan (UM).. The initial concept grew from advanced materials R&D that was further developed, leveraging the expertise of Dr. Thompson, one of the brain trusts behind another early-stage firm (T/J Technologies). In 2006, T/J was sold to A123 Systems, which is renowned in the industry. The UM Office of Technology Transfer (OTT) helps the company leverage the commercial potential of the innovation through licensing agreements, investment attraction, technology scale-up and seamless integration into the marketplace.
Les Alexander, CEO, explained the appeal behind the technology: “Most people in the industry know about Levi’s track record. And everyone wants their storage device to follow three simple rules: 1) perform well – meaning meeting or exceeding the customers’ expectations, 2) perform safely, and 3) do these things at a very reasonable price. It sounds simple, right? Well, it’s not, really. There are a lot of products that can achieve one or two of those things. Being able to do all three is a different story.” He added. “Our supercap offers a triple performance rating boost at a mere fraction of the cost of most commercially available cells.”
Inmatech’s devices are inherently safer, because they use non-volatile, inorganic electrolytes. (Lithium ion batteries typically use an organic solvent in the electrolyte: the culprit behind the notorious thermal runaway issues with such systems.) “The combination of superior performance, cost and safety offered by our supercaps will enable significant expansion into important markets and sectors, including mobility, stationary and defense applications,” said Alexander.
“Inmatech has completed fundamental testing for establishing its supercapacitor materials as significant improvement over commercially available products. This year we are excited about new partnerships we are developing for automotive and commercial markets” said Dr. Thompson. Inmatech aims to commercialize its next generation supercapacitors and systems within key markets, through strategic partnerships, these industries are likely to leverage Inmatech’s innovative supercapacitors, which offer three times higher energy storage density and ten times lower cost compared to other commercial devices.
Companies making it to the “Michigan 50 Companies to Watch” list are a remarkable group of second-stage companies. Defined as having 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants, these companies form the backbone of Michigan’s economy. Representing all regions of the state and a diverse range of industries, companies like Inmatech, Inc. are known for their exceptional entrepreneurial leadership, creation of innovation or use of innovation in creative ways, and their sustainable competitive advantage.
Winners were selected by Michigan-based judges from the banking, economic development, entrepreneurship development, and venture capital communities.
Michigan 50 Companies to Watch is presented by Michigan Celebrates Small Business.
Founding underwriters are the Michigan Economic Development Corporation, PNC Bank, Accident Fund Insurance Company of America, and Dynamic Edge, Inc.
Contributing Underwriters are Comcast Business Class, Consumers Energy, DTE Energy Foundation, Hungerford Nichols CPAs and Advisors, Edge Partners, Michigan Credit Union League & Affiliates, Rehmann, Michigan Business Network and Varnum Attorneys at Law.
Michigan Celebrates Small Business was founded by Michigan Small Business Development Center, Michigan Economic Development Corporation, U.S. Small Business Administration – Michigan, Edward Lowe Foundation, Chris Holman – Small Business Advocate, and the Small Business Association of Michigan.
Information about Michigan Celebrates Small Business, can be found at www.MichiganCelebrates.biz.