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Tech startup NG1 Raises $1.5 Million, Plans Atlanta Move

*This article originally ran in the Atlanta Business Chronicle.

NG1 Technologies secured nearly $1.5 million in funding from Silicon Valley-based Band of Angels, Denver-based Sun Strategies and a private investor, and plans to centralize operations and manufacturing in an Atlanta headquarters.

The company focuses on exhaust systems and will use the funding for testing, research and development and expansion of its manufacturing and distribution.

NG1, which has been operating in Sarasota, Fla., and Memphis, Tenn., with manufacturing in Tupelo, Miss., plans to move establish its headquarters in Atlanta in the first quarter of 2016. The company also plans to bring new manufacturing operations to the city.

“We’ve been talking to the Kennesaw incubator group and we are going to land there for a few months and figure out where we are going to establish our main office,” NG1 CEO Cynthia O’Donnell said.

O’Donnell said the company was introduced to Atlanta’s green tech scene through the company’s involvement with the Clean Tech Open, which the company won.

“There is quite a bit of initiative in Atlanta to become the clean tech city of the east,” O’Donnell said. “There is such positive energy for our company, startups, and clean tech that we felt like Atlanta created an environment for a clean tech start up to want to come there.”

Dustin Nord, chief technology officer of NG1 Technologies, said Gregory Chafee at Thompson Hine helped start the Clean Tech Open and his firm has been one of the largest promoter of clean tech in Atlanta, which was instrumental in helping the company and its transition to Atlanta.

“We are using Memphis as our beta testing location because that’s where we are basically based, but our home is in Sarasota, Fla., and there’s no transportation there,” he said. “We’re choosing Atlanta over all these other cities, which is a great thing for both Atlanta and for us because we’re also going to bring manufacturing into the area.”

Nord noted manufacturing for pickup truck, box trucks, repo trucks, and unleaded vehicles will be established in Atlanta, which will create a drive for jobs.

Nord said NG1 figured out a new theory of fluid dynamic that has many applications. The company’s main product is its TechFlo Exhaust, an aftermarket exhaust system that can generate fuel savings rates in the double digits. 

“When we retrofit our system as an exhaust system, we found that we work with not only with diesels but all other fuels,” Nord said. “Even with the fuel prices as they are now, we are able to get anywhere between a four and six month payback, cutting the payback time in half. We also found we are bringing more air into the cylinder, which is [provides] an emission reduction.”

NG1 is still seeking investment and “will soon close its A Round.”

 

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INNOVATE MS proud to Work with NG1

Innovate Mississippi was proud that NG1 went on to win the Cleantech Open last year and continues to promote  the company.

Writeup in Pointe Innovation.

Thomson Reuters Interviews NG1 Founders

EXECUTIVE PERSPECTIVE: Sustainable Innovation for the World, Techflo Exhaust System

Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. Sustainability is part of their  larger Corporate Responsibility & Inclusion initiative. and they interviewed the founders of NG1 TechFlo Exhaust in collaboration with the Cleantech Open..

NG1 is the winner of the 2014 Clean Tech Open

Clean Tech Open – open the door for international sales.

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Cleantech 2014 News

Ng1TechFlo won the CleanTech Open national technology competition in 2014. Cleantech Open is the largest Cleantech accelerator in the world. Ng1 competed against over 400 companies and was vetted by investors and industry specialists alike.

Ng1 Techflo won the Cleantech Open national Accelerator technology company competition.

Cleantech Open 2014 National Winner.

Production News

NG1 Techflo is being produced by Holley Exhaust. Holley manufactures high performance carburetors, manifolds, superchargers, water pumps, throttle body fuel injection and fuel pumps for street and race applications. In producing these parts, Holley prides itself in utilizing the latest technology in a lean environment to provide the highest quality parts at the best value to the customer. Holley’s machining departments range from small drilling and tapping centers to large four and five-axis high speed machining centers. Many are equipped with automatic pallet changers to facilitate the highest level of spindle up-time. Also included are CNC turning centers. An in-house tool room and maintenance department is comprised of a CNC wire EDM, CNC die-sinking EDM, Ewag tool grinder, and a host of manual machines..

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