SOURCE: TM3 Systems

Duffey Petrosky

September 04, 2014 15:25 ET

New Michigan Tech Start-Up TM3 Systems Completes $1.6 Million Financing Round

DETROIT, MI--(Marketwired - September 04, 2014) - TM3 Systems, an award-winning manufacturer of intelligent power distribution equipment for off-grid applications, successfully completed a $1.6 million round of funding and is currently working on several projects from the U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC).

TM3 Systems spun out of the Michigan-based high-tech incubator, NextEnergy, and was selected to receive a first round of Pre-Seed Capital Fund investments from the State of Michigan. Initial funding enabled microgrid technology demonstrations at Marine Corps Experimental Forward Operating Base (ExFOB) 2013, the General Dynamics Land Systems Maneuver Collaboration Center (mc2) and Camp Grayling's Centennial Celebration. Additionally, in 2013, the company filed for patent protection and secured its first contracts.

This round of funding will be used to continue technology and product development, and begin additional application exploration in the areas of disaster relief, mining and entertainment.

TM3 Systems will be a vendor at this year's Intelligent Transport Society World Congress in Detroit from September 7 through September 11, through a partnership with Michigan CAT. TM3 will work with Michigan CAT's onsite power generators to conserve energy and help maintain equipment, providing more efficient power to the many demonstrations on Detroit island, Belle Isle.

About TM3 Systems

TM3 Systems is an award-winning energy distribution company that provides universally compatible intelligent power management for off-grid applications. TM3 Systems was founded in 2012 to commercialize technology developed through collaboration between Coritech Services and NextEnergy. TM3 products are designed to meter, control and optimize power in remote locations, providing users with increased efficiency and reliability of their power systems.

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