New Eagle wins loan to bring electric-vehicle 'brain' to market
In the race to supply the electrified vehicles, which are expected to hit the road in growing numbers, New Eagle got a recent jolt.
The company, founded in 2008, was awarded the first loan from the Eastern Washtenaw County Micro Loan Fund to help bring to market its technology that company founder Richard Swortzel says acts as the “brain” of electrified vehicles. “The task in an electric car is to manage what the driver wants, tell the motor what to do, while monitoring the battery and keeping it happy,” he said.
The loan is a “stepping stone” to help establish his company's product development infrastructure, Swortzel says. He is also applying for funding from the state's Pre-Seed Capital Fund, as well as surveying other potential debt and equity funding sources to support the company's plans to grow its staff.
New Eagle's core product is its MotoHawk® software platform, which uses complex algorithms to manage how electricity is used to power a hybrid or electric vehicle. New Eagle also integrates the software technology into electronic control units that are installed in vehicles.
