TM3 Systems is raising seed capital to start scaling its microgrid technology. It's off to a good start, landing six figures' worth of funding from the Michigan Pre-Seed Capital Fund
. The 1-year-old firm is currently looking to close on the seed capital by the end of the first quarter this year.
The Royal Oak-based company is designing microgrid technology (think generators) that can be used in remote locations by both military and commercial customers. The idea is to create power sources that help meet the power and logistical needs of the personnel using them.
"We feel the way it's done today ends up wasting a lot of fuel and downtime," says Nate Lowery, CEO of TM3 Systems
. "We're looking to solve these problems."
TM3 Systems microgrid products, developed in partnership with Detroit-based NextEnergy
, are designed to meter, control and condition power in remote locations. The technology provides users with grid monitoring and automatic generation and demand control with an eye for optimizing off-grid power assets. Currently, most of these users need to haul diesel generators to remote locations, with the generators often not meeting the needs for the situations.
"You end up with generators that are too large or too small for the application," Lowery says. "If it's too large it wastes fuel. If it's too small it doesn’t provide enough electricity."
TM3 Systems and its team of three people recently started selling its three units. The company is aiming at both military customers and commercial clients, such as remote mining interests.
Source: Nate Lowery, CEO of TM3 Systems
Writer: Jon Zemke
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