|
By DON DODSON Copyright 2004 The News-Gazette CHAMPAIGN – Phil Krein has got energy – and patience, too. Krein is a professor of electrical and computer engineering at the University of Illinois, and he has been working on energy-processing technology for 15 years. This year, he and some colleagues formed a company, SmartSpark Energy Systems, to expedite new methods of processing electrical energy and using it more efficiently. In practical terms, that means building batteries that last longer, developing lower-cost ways to convert alternative energy into electricity and getting maximum efficiency from energy sources. Krein has no illusions about SmartSpark becoming an overnight success, but he's confident the company will have a lasting impact. "We'll be a small firm in 2005," he said. "We may not be so small in 2010." SmartSpark opened its doors in the UI's EnterpriseWorks building in January, and its first full-time employee started two weeks ago. "We're expecting an initial ramp-up in 2004," Krein said. "By the end of the year, we'll be selling things and working actively with major clients." SmartSpark recently hired an interim chief executive officer, Neil Kane. As an "entrepreneur-in-residence" at the UI Research Park, Kane works with several start-up companies needing management expertise. Kane, a UI mechanical engineering graduate, said he has spent four years commercializing technology from universities and federal laboratories. From his experience, Kane said, "Academic-led startups do better and make smarter decisions with a seasoned business person involved." At this point, SmartSpark is exploring a variety of innovations, but focusing on three in particular: – Improving the performance of rechargeable batteries by "balancing" the electrical charge across a series of batteries. The "Batteq" balancing system could yield benefits for the automotive industry. It could also be used in computer and communications backup systems, battery-operated power tools and light electric vehicles such as golf carts and scooters. – Developing "PulseLink," an energy conversion technology that is more reliable, has fewer parts and costs less than existing conversion technologies. PulseLink could be used in converting energy from sources such as solar panels or fuel cells. Among the potential customers: military markets and high-end residential developers. – Developing a control method, "ripple correlation," that gets maximum efficiency out of energy sources, whether it be a solar panel or an electronically controlled motor in a home appliance. "The energy savings could be substantial," Krein said. "That technology could have a significant national impact on energy consumption." The battery-balancing project is the one closest to product stage, Krein said. The ripple correlation project is "farther down the line," he said. "The purpose of founding the company is to get some of these important electrical energy innovations into the hands of the public," he added. Working with Krein to get the company off the ground are Patrick Chapman, a UI assistant professor of electrical and computer engineering, and Jonathan Kimball, a UI research engineer who serves as vice president of engineering for the company. Brian Kuhn, the company's first full-time employee, joined SmartSpark after working six years as a research engineer at Purdue University. Kuhn and Chapman, who knew each other at Purdue, had long tossed around the idea of starting a company. When Krein asked Chapman whether he would be interested in being involved in the new company, Chapman said he "didn't hesitate at all." "The timing is very appropriate," Kuhn said, noting public attention to the nation's energy needs following blackouts in the Northeast and Midwest last year. "It's more in the forefront of people's minds than it used to be." Krein said the SmartSpark name was chosen because the founders wanted to "bring out the notion of intelligent energy processes." At this point, SmartSpark is working on prototypes, and in the next few months, the company expects to develop partnerships to help create the right products for customers. Customers for battery balancing are likely to include "companies that put together battery units for other companies," Krein said. "Most things we sell will be to industrial providers," he added. Krein said end users already know current batteries don't perform up to expectations. But for battery producers to adopt the new technology and improve their products, they'll need to realize a benefit for themselves, he said. Krein said most companies engaging in the kind of work SmartSpark does are small start-ups, rather than industry giants. "There are a couple start-up companies at the University of Wisconsin that compete with us a bit, but we have some advantages in terms of our technologies," he said. SmartSpark recently received a $5,000 award from the Illini Entrepreneurship Center Network and is in early discussions with IllinoisVentures about a possible investment. But at this point, the company hasn't put together financing to take it to the next level. Krein estimates the company will need a "couple million" dollars in the next year or so. Preparing for the financing is part of Kane's job. "I need to prepare a business plan, outline what products to build, what markets to go after, before we credibly go after the money," Kane said. "I'm not an expert in this field," he added. "But I smell an opportunity here." You can reach Don Dodson at (217) 351-5227 or via e-mail at dodson@news-gazette.com. |
|
|