EV conversion startup keeps focus on Ford

Kurt Neutgens knows the Ford F150 inside and out, and he thinks the electric car of tomorrow should be based on something that robust.

The CEO and founder of startup Plug-In Motors of Missouri was the engineering manager of the popular truck, in total working at the automaker for 17 years. Neutgens is now parlaying that experience to convert the Ford F150 and Mustang into plug-in electric vehicles with regenerative braking systems capable of reaching 85 miles per hour.

The benefit of this technology, Neutgens told the Cleantech Group, is that it relies on well-established and robust vehicles.

“You don’t have problems with the roof leaks, the radio problems, and other things that have nothing to do with the electric part of the vehicle,” Neutgens said. “It provides a great, high-quality base, and above that it reduces the upfront investment significantly. We’re talking about millions instead of billions.”

Armed with a prototype of the electric Mustang, Plug-In Motors is now seeking $1.5 million in a Series A to develop demo vehicles and build up a sales and marketing campaign.

Plug-In Motors asks that customers bring in vehicles to be converted. Powered by lithium ion iron phosphate batteries, the conversions cost $75,000 for the vehicle with an 85-mile range, or $125,000 for a 200-mile range. Those prices would drop if the company is able to secure more orders, Neutgens said.

The company has established relationships with dealers to sell and service the vehicles in Colorado, where customers are eligible for a tax credit of 85 percent, and Kansas City. Neutgens is also seeking to expand into Oklahoma, where customers can qualify for a 50-percent credit.

Plug-In removes from each the vehicle the engine, cooling system, exhaust, fuel tanks and lines, and emissions equipment. Then, Neutgens installs an electric motor, battery pack, on-board charger, and dashboard display. Neutgens declined to name the battery manufacturer, which he said was located in China. The motor is supplied by AC Propulsion, which has licensed its technology to Tesla Motors to integrate the charging electronics into the inverter (see Zero emission car makers get tax break in California).

Plug-In also modifies the transmission to a more efficient, more robust direct-drive transmission with no shifting.

“Shifting in transmissions is the part that breaks down over time, so if you have no shifting the transmission will last a lot longer,” Neutgens said.

The regenerative braking system is installed on the accelerator pedal to recover much of the energy wasted in stop-and-go traffic and charge the battery when the vehicle is coasting (see Delhi Metro earns carbon credits for regenerative braking system).

A full charge of the battery pack is expected to take an hour and 15 minutes for the 85-mile range vehicle and a little more than 3 hours for the 200-mile range vehicle.

The company has raised about $150,000 in angel funding. Additional funds would allow Plug-In to rent time and space on an assembly line of a major manufacturer, as well as increase marketing and sales. The company has not yet sold any conversions.

Plug-In Motors is one of 12 potential new global investment opportunities that the Cleantech Group added to its dealflow database this week—available exclusively to members of the Cleantech Network. Members can click here to search the dealflow database.

Interested in investing in cleantech companies? Here are two companies from the Cleantech Group's dealflow database also looking for funding:

• UK-based EGS Energy is raising £500,000 in seed funding for the early stages of its demonstration project for advanced geothermal systems. The company says it can provide valuable baseload power alongside wind and solar power projects—at the same price of a single clean coal power station.
• California-based Ultrasolar Technology is raising $10 million in follow-on funding for its next-generation, high-efficiency solar cells that reduce the cost and area required to generate solar power. The company projects revenue of $100 million by 2012.

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