TransPower Places Ninth in San Diego’s Fastest 100 Growing Private Companies
San Diego, July 14, 2014 – Transportation Power Inc. (the “Company” or “TransPower”), a leading provider of clean vehicle and stationary energy storage technologies and products, placed ninth in the San Diego Business Journal’s 2014 ranking of the 100 fastest growing private companies in San Diego. To be considered for the awards, companies had to be in business since the beginning of 2011 and have generated revenues in excess of $200,000 and demonstrated growth from 2011 through the end of fiscal 2013.
“TransPower was founded in mid-2010, so this is our first year qualifying for the awards,” said Mike Simon, President & CEO of TransPower. “I think the fact that we placed ninth the very first time out is a testament to the amazing team at TransPower and the unbelievable demand for cleaner heavy automotive vehicles and energy storage.”
TransPower revenues grew 281% between 2011 and 2013 to a total of $4,510,000. The company plans to expand significantly over the next 12 months as the demand for their products and services increases with state and federal government mandates and regulations.
Transportation Power, Inc., doing business as TransPower, is a privately-held California company that develops and provides clean vehicle and stationary energy storage technologies and products. TransPower has developed a proprietary “ElecTruck™” integrated electric drive system for large trucks, tractors, and buses. TransPower has also developed the “Grid-Saver” fast energy storage system for stationary energy storage applications, designed to maximize commonality with TransPower’s electric vehicle products, including lithium battery modules, battery management systems, and energy management technology. In addition, TransPower is developing drive products using state of the art hybrid-electric and fuel cell hybrid propulsion systems.
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