The company has been seed funded through non-dilutive sources to complete the initial development of the technology, file patents and build a prototype machine. LC Drives has received two NSF (National Science Foundation) grants, one DARPA (defense department) grant and three NYSERDA (NYS government) grants. This has enabled the advancement of the technology and filing of ten (10) Patent applications in these technologies. LC Drives intents to raise series A financing during 2017.
An experienced and seasoned management team has both entrepreneurial start-up experience and significant industry experience. This business has the unique combination of lower risk protectable technology and large accessible market.
Startup Your Motors
A “serial entrepreneur” with a passion for motors demonstrates an example of how to innovation can be accomplished through unlikely avenues. After presiding over the growth of a company that folded upon his departure, LC Drives CEO Russel Marvin has now brought a potential breakthrough in motor weight and size to the market….Read more
LC Drives and the Shipley Center for Innovation at Clarkson University
LC Drives Elevator Pitch