Forbes Magazine Names ALTe Powertrain Technologies as one of America’s Most Promising Companies
AUBURN HILLS, Mich., – December 1, 2011 – Forbes Magazine has named ALTe Powertrain Technologies (ALTe), developer of the first range-extended plug-in hybrid electric vehicle powertrain for light commercial fleet vehicle applications, as one of America’s Most Promising Companies. Forbes‘ list features 100 privately held up-and-comers with compelling business models, strong management teams, notable customers, strategic partners and precious investment capital.
ALTe’s distinction as one of America’s Most Promising Companies is based on an algorithm that took into account everything from news announcements to job boards and court filings that the company and others listed announced this year. Forbes teamed up with CB Insights, a Manhattan-based data firm that tracks investment in high-growth private companies, and developed complex software called Mosaic that mines myriad online sources to come up with one, algorithmically-derived score that measures a private company’s health. Forbes married Mosaic’s data-crunching with old-fashioned reporting to assemble a list of rising stars with bright growth prospects.
“Sizing up younger, privately held companies is hard: Their fortunes can change very quickly and there’s a dearth of public data,” says Forbes Executive Editor Brett Nelson. “We took a more comprehensive approach to evaluate their health and potential.”
ALTe’s increasing magnitude of substantive announcements in 2011 contributed to their placement on the Forbes list. These included a long-term supply agreement with battery maker A123 and electric motor supplier Remy, a preferred installer partnership with vehicle remarketer Manheim, a collaborative effort with Pacific Gas & Electric Company (PG&E) to test their technology on PG&E’s fleet of trucks, and a joint venture with Inmatech, Inc. to produce and sell hybrid electric storage (HES) devices. Each of these strategic alignments has helped to further perfect ALTe’s technology and ensure that the company is aligned with the best business partners available before production begins in 2012.
“This is a very exciting time for ALTe and we are truly honored to be listed as one of America’s Most Promising Companies by Forbes,” said John Thomas, CEO and co-founder. “This award is a validation of the strategic alignments we’ve made and a show of support to our unique place in the alternative automotive market that ALTe identified and addressed with our range-extended plug-in hybrid electric vehicle powertrain.”
ALTe is one of only three companies listed in the Capitol Goods industry category, the only hybrid technology company and the only company from Michigan to appear on the list. ALTe’s management team is comprised of a group of automobile engineers with extensive experience at leading OEMs and suppliers worldwide and in Silicon Valley. The company receives tactical guidance from its advisory board which includes representatives from some of the nation’s leading corporate fleets: Club Assist, Consumers Energy, Cox Communication, DIRECTV, Duke Energy, Enterprise, Film Vehicle Services, Frito Lay, NCH, PG&E, Stantec, Service Master, and Waste Management.
Forbes announced the list online on November 30. To view the complete the list, please visit www.forbes.com/ampc.
ALTe is the developer of a Range Extended Electric Powertrain used to repower light commercial vehicles. The system will be retrofit into existing fleet vehicles as well as used in “glider” applications of new vehicles to dramatically increase their fuel economy and lower emissions. Designed to replace a base V-8 internal combustion engine powertrain, the system’s patented technology improves fuel economy from 80 percent to 200 percent. Based in Auburn Hills, Michigan, the company is headquartered in a 185,000 square foot facility where it will assemble its powertrains that will be shipped to Manheim installation locations across North America. For more information, visit http://www.altept.com.
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CHICAGO, IL, – June 7, 2012 – ALTe Powertrain Technologies, developer of the first range-extended plug-in electric hybrid powertrain for light commercial fleet vehicle applications, today announced that it has created a Commitment to Action as part of the Clinton Global Initiative America (CGI America) meeting. ALTe has committed to spur adoption of hybrid electric technology in the worldwide fleet industry and bolster clean technology jobs in America.
May 16, 2012 – The crew at Translogic took the time to stop by and see the the team at ALTe Powertrain Technologies. Founded by a group of former Tesla Motors executives, the company focuses on building plug-in hybrid conversions for fleet vehicles.
ALTe Powertrain Technologies and Club Assist Announce Development Project on Plug-In Electric Hybrid Powertrain for Fleets
AUBURN HILLS, Mich., – April 16, 2012 – ALTe Powertrain Technologies and Club Assist today announced a joint development project to study ALTe’s powertrain technology in Club Assist’s fleet. Project will be a first for Club Assist, a company committed to electrification of fleets.
ALTe Powertrain Technologies Launches Second Vehicle Line for Plug-in Electric Hybrid Powertrain Systems
AUBURN HILLS, Mich., – March 22, 2012 –ALTe more than doubles miles per gallon for the popular E350 full-size fleet van.
Update on ALTe; EREV powertrain company tracking for production-caliber units by December, production ramp in 1Q 2013
February 29, 2012 – Extended range electric vehicle powertrain company ALTe (earlier post) is tracking to produce a limited number of production-caliber vehicle powertrains by December, and plans to ramp up production in the first quarter of 2013.
January 11, 2012 – Alternative-fuel and fuel-efficient vehicles are increasingly becoming fleet mainstays — electric vehicles and hybrids are a common sight in a growing number of fleets
December 3, 2011 – ALTe Powertrain Technologies and Coda Automotive are two of America’s Most Promising Companies, according to Forbes. The conservative business mag’s annual list spotlights 100 privately-held companies with compelling business models, strong management teams, plenty of capital, and notable customers and strategic partners.
AUBURN HILLS, Mich., – December 1, 2011 – Forbes Magazine has named ALTe Powertrain Technologies (ALTe), developer of the first range-extended plug-in hybrid electric vehicle powertrain for light commercial fleet vehicle applications, as one of America’s Most Promising Companies.
October 30, 2011 – Before there ever was an EcoBoost engine, Ford sold tons of F-150 trucks as fleet vehicles with engines that were far more gas guzzling. Now, ALTe is ready to convert many of those trucks with its proprietary ALTe Green Box as shown at The Battery Show 2011.
October 27, 2011 – No thanks, the three founders of ALTe Powertrain Technologies told Tesla Motors CEO Elon Musk when Tesla decided to close its Michigan Tech Center. Rather than move to Palo Alto and continue work on luxury electric vehicles, we’ll stay in Michigan and start a new company on the eve of an industry downturn to build an alternative powertrain for light commercial vehicles.