Orlando–based Capacitech Energy Inc. is an Orlando Inno 2023 Fire Awards honoree. The firm ranked No. 1 in the Not Just Lucky category, companies that are 7-8 years old.
The firm created a revolutionary product: a power cord that also stores energy to make batteries and renewables better. “When we are working on projects with customers, we generally start by understanding their needs and technical requirements," said CEO Joe Sleppy. "From there, we can recommend solutions that are based on the standard products we produce.” All of the firm’s products are made in Orlando.
Read more about the Fire Awards in Orlando Business Journal's June 9-15, 2023, weekly edition.
Introducing the 2023 Fire Awards winners
Here’s more from Sleppy:
What led to your firm’s rapid growth?
We repositioned our products to be more affordable, easier to use and to serve significantly larger-scale projects — all of which are critical to helping our customers overcome challenges they face.
How did you accomplish it?
Just as our products are physically flexible, so is our team. That flexibility helped us adopt new technologies and approaches that unlocked additional performance and value for our customers.
What’s one big challenge your firm’s rapid growth has created?
It has led to larger projects, bigger budgets and greater operating complexities. We are overcoming those through world-class partnerships with companies like Genesis Research & Development and New World Angels. We are at the UCF Business Incubation Program at Central Florida Research Park, which gives us access to engineering talent and lab infrastructure.
A fun fact about your company:
One of our initial minimum viable prototypes was built with parts from Lowe's. Our “hardware prototype” was only a demonstration, but led to a $225,000 research grant. Currently, we have baseline production capacity in-house and are in the process of setting up local contract manufacturing arrangements for scale.
Top 2023 goals:
Scaling up production, optimizing performance and showing our customers how they can exceed their goals by reshaping energy storage systems with our Power Storage Cables product line
How does your company stay on the cutting edge?
Our culture is built on curiosity and humility. That combination keeps us learning and pushing the boundaries of what is possible.
Capacitech Energy Inc.
- Top executive: Joe Sleppy, CEO
- Founded: 2016
- Capital raised since founding: $2.5M
- Total employees: Five
- Website: capacitechenergy.com
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