Source: The Hill
November 19, 2014 - The Hill held an event on The Next Generation of Electric Transportation: Innovation in Technology & Power. During a robust discussion, panelists explored the next generation of electric vehicles and how they are transforming both the transportation industry and the power sector.
Government leaders, business executives, and industry experts offered varying perspectives on innovations in the use of electric cars and trucks, where the industry stands today, what to expect over the next decade, and what new technologies and policies could be required to get there.
February 12, 2014 - Inventev, with its power generation and hybrid drive technology, was awarded First Place Emerging Company in the Great Lakes Entrepreneurs Quest (http://gleq.org/) Fall cycle of the competition as announced January 30th at Michigan’s Annual Collaboration for Entrepreneurship 2014 in Livonia. Along with the $5,000 cash award for having the best business plan, Inventev receives a presentation slot at the Michigan Growth Capital Symposium in June.
Also recently announced, Inventev has been chosen one of several finalists in the regional Clean Energy Challenge competition in Chicago, sponsored in part by the U.S. Department of Energy with top awards reaching $100,000. This competition will conclude with an awards event and exposition on April 3rd in Chicago(http://www.cleanenergytrust.org/challenge/).
Source: PR Newswire
July 8, 2013 - To increase its national visibility and accelerate its business development, Detroit start-up Inventev is participating in the Palo Alto-based Cleantech Open national business competition and has been named a Semifinalist from the Midwest region. As the developer of an innovative and patent-pending commercial fleet truck propulsion system, Inventev addresses the needs of mobile temporary power generation while equipping a daily work truck for common job-site tasks. Powering these tasks electrically ( such as moving aerial lifts) avoid the noise, emissions and high fuel consumption of idling a costly diesel engine all day. Leading market targets are the electric utility or cable company line-service "bucket" trucks. Many other vocational uses will show favorable paybacks as well.
"Everyone still has Hurricane Sandy in mind where there weren’t enough generators in the country to respond effectively…even bringing them from California," said Inventev founder & CEO (and former GM executive) Dave Stenson. "We plan to integrate neighborhood generating capacity onto fleets of hybrid electric trucks saving fuel every day while also having the standby generating capability when needed."
September 17, 2013 - The Rice Alliance for Technology and Entrepreneurship (Rice Alliance) announced the 10 Energy & Clean Technology Venture Award companies at the 11th Annual Energy & Clean Technology Venture Forum in Houston last week. Energy & Clean Technology companies showcased their new offerings at the largest venture capital conference in the Southwest with 450 attendees, including investors, venture capitalists, industry representatives, business leaders, service providers, and entrepreneurs.
The one-day event culminated in an announcement of the 10 Energy & Clean Technology Venture Award companies chosen from 35 presenters and judged by the Rice Alliance Energy & Clean Technology industry experts, based on the companies’ business plan presentations.
February 9th, 2016: Inventev, the Detroit-based cleantech startup working on mobile power generation via plug-in hybrid electric vehicle architecture, announced Monday that it has snagged a $500,000 grant from the U.S. Department of Energy (DOE). Inventev’s CEO and founder, Dave Stenson, said the company will use the money to model, develop, and test key elements of its drive system for commercial, medium-duty trucks.
Inventev isn’t in the business of manufacturing vehicles. Rather, it produces new, integrated transmissions with power-generation and power-storage capabilities. Stenson said Inventev’s technology revolves around next-generation propulsion and controls. Take, for instance, the commercial trucks used by utility companies that come equipped with “buckets” for repairing power lines. After being fitted with Inventev’s system, those commercial trucks run like “a Chevy Volt on steroids” while in motion, he said, and generate flexible, grid-quality power when stationary.
Typically, when medium-duty utility trucks are in the middle of a job, the vehicle sits idling—sometimes for hours—creating pollution and wasting gas. (The truck needs to be running in order to power the aerial lift.) When modified with Inventev’s system, commercial trucks can power the hydraulics needed to raise and lower the aerial lift without idling, Stenson said.
The company plans to use the new DOE grant in a 12-month, $750,000 demonstration project showcasing the company’s Energy SWAT Truck, with the base vehicle chassis provided by a Ford F-550. “We remove [the original equipment manufacturer’s] transmission and put ours in,” Stenson explained. In addition to Ford, demonstration project partners include Pacific Gas & Electric, which is providing the test vehicle; A123 Systems BorgWarner NextEnergy Product Assembly Group and Landi Renzo.
Stenson said the DOE grant, awarded under the ARPA-E program, will complete half of Inventev’s seed funding round, which it hopes to close by summer before moving on to a Series A round. Since launching in 2011, the company has also won a $50,000 MATch Energy Grant from NextEnergy, a $5,000 prize in the 2014 Great Lakes Entrepreneur’s Quest business plan competition, and a $25,000 cleantech prize in the 2014 Accelerate Michigan competition.
Before he started Inventev, Stenson had a 30-year career with GM, mostly in engineering and product development. He also served as chief technical officer on the Hummer spin-off team, leaving in 2010 after the deal to sell the brand fell apart. During Inventev’s early days, when it was applying for patents and incubating at TechTown Detroit, he tried to understand the nuances of the market and figure out where the need was.
“I left Hummer with thoughts of what’s new in the truck world that I might be interested in,” Stenson said. “We had been exploring the hybridization of the Hummer platform. So I thought, ‘If I were to hybridize a truck of that size, how would I do it? How can I offer a lower-cost, higher-capability system than what the market is offering?’ That’s where the idea for a multi-functional vehicle came from.”
He also wanted to avoid competing with the Big Three, which is how he ended up focusing on the kinds of medium-duty trucks used by landscaping, utility, and cable companies. The DOE grant, Stenson said, is a huge boost to the credibility of Inventev’s technology.
“We’ve gone through a number of stages during the conceptual phase,” Stenson added. “We’re very excited to break out of that, get into the hardware stage, and have the funding to build a prototype.”