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Indy Power Systems wins “Biggest Opportunity” award — 10/28/08

Indianapolis — On October 28, 2008, Indy Power Systems was named the "Biggest Opportunity" startup company in a statewide competition of emerging companies. Co-sponsored by the Venture Club of Indiana and the Indiana Economic Development Corporation, "Venture Idol" featured 21 finalists who presented their businesses to a panel of judges and an audience of business professionals.

Indy Power Systems provides hardware and software solutions to the electric power industry. Their Multi-Flex™ energy management system was featured in the Venture Idol competition for which the Company won the “Biggest Opportunity” award. Indiana Economic Development Corporation’s Director of Entrepreneurship Bruce Kidd said “Indy Power Systems' Multi-Flex™ is a breakthrough technology that has the potential to optimize the generation and storage of electrical energy using multiple types of batteries, or any combination of power units. The power units can be, but are not limited to, any combination of batteries, fuel cells, and capacitors. This capability will enhance Indiana’s position as the epicenter of the technology required to advance the electrification of the transportation industry."

The Multi-Flex™ optimizes multiple energy sources, enabling Battery Electric and Hybrid Electric Vehicle manufacturers to custom blend various battery power solutions to meet different consumer needs. The Multi-FlexTM will enable battery costs to be reduced by over 50% in electric vehicles. Indy Power Systems has filed a provisional patent on the Multi-Flex™ technology.

The Company’s technology is highly scalable and can also manage and optimize alternative energy power such as wind, solar, batteries, and the electric utility power grid. Variations of the Company’s technology can be applied to battery and battery cell management.