August 14, 2016. Inventev LLC, a TechTown Detroit tenant that is developing and marketing a mobile power-generation system for work trucks, is seeking financial partners for its quest to open a vehicle development center in Detroit.
The startup is submitting a proposal to the U.S. Department of Energy on Aug. 29 for the plan, which it is calling the Detroit Advanced Vehicle Integration Center. Inventev is seeking a $4.5 million grant but needs matching support from new equity partners, project funding, in-kind support, economic development incentives or other sources.
Dave Stenson, Inventev's founder and CEO, said the company would use the center to take its product to market, but also serve as a home for software developers and other startups breaking into the automotive market.
"We think establishing a vehicle development hub downtown would be unique," Stenson said. "We hope it could start out small and expand into a large development space for others."
If Inventev achieves its matching support, the DOE would notify the company whether it is awarding the grant in spring 2017. It received a $500,000 DOE grant in January.