I Power Energy Systems, an Indiana Company, designs, develops and manufactures power generation and power management equipment. The business originated as a spin off from Remy International, Inc. based on a group that had worked on the General Motors electric and hybrid car activities in the 1990s. DTE Energy Technologies, Inc. (formerly Detroit Edison) acquired the business in 2004 as part of an initiative to participate in the distributed generation market. DTE Energy Technologies, Inc. elected to exit the distributed generation business, and on November 23, 2005 a group of Indiana investors formed the Company as an Indiana limited liability company and purchased the business from DTE Energy Technologies, Inc. The primary I Power products had been a series of natural gas fueled combined heating and electric power (CHP or cogeneration) units. However, in 2006, the product line was expanded to include agriculture irrigation pumps, bio-gas fueled units, standby generators, prototype generators and military electric power management applications. Combined heat and power (CHP) units are among the most efficient converters of fuel on a total energy basis. Several recent events provided significant impetus for potential growth. First Samsung selected I Power as a joint venture partner to develop a larger CHP unit thus expanding the product line, the U.S. Army selected the Company to develop a deployable tactical Micro Grid system and a strong alliance and joint development arrangement was established with a company developing a pyrolytic conversion concept for large waste to energy projects. The I Power organization is based on a strong systems engineering capability and operates with a flat organization structure with shared responsibilities across disciplines. The management is comprised of S. Michael Hudson as the Chairman and Chief Executive Officer and Terry J. Pahls as the President and Chief Operating Officer. Both have extensive backgrounds in business and product development, manufacturing and marketing at General Motors and Rolls-Royce, and General Motors and Remy International, respectively. Most recently, Mike Hudson was Vice Chairman of Rolls Royce North America Holdings and Terry Pahls was a founder and senior executive of Remy International. The staffing consists of a core of approximately fifteen professionals providing the business and technical expertise and with the demonstrated capability to flex for special projects and growth opportunities using contract employees and subcontracts with the Indiana research universities and other engineering firms. An additional five to ten hourly assembly and test technicians support the development and manufacturing operations. The operations are based in a modern 66, 000 ft manufacturing facility in Anderson, Indiana.