NJBIZ 2006 Business of the Year Awards, Princeton Power Systems Inc.


Princeton Power Sytems Photos



view all images

	TerraCycle Inc.

	Winner

	Achieve 3000

	Lakewood, NJ

	Compass Healthcare Communications

	Princeton, NJ

	RightAnswers Inc.

	Clark, NJ

	Stellar Academy

	Bridgewater, NJ


Princeton Power Systems
Darren Hammell,
President & CEO
Princeton, NJ

www.princetonpower.com

The technology fueling Princeton Power Systems Inc. was born in a dorm room at Princeton University.
>>>College classmates Erik Limpaecher, Mark Holveck and Darren Hammell developed their
ideas for the company into a winning business plan in 2001. They convinced their first investor over coffee at a Princeton Starbucks.
>>>By early 2003, the three had ironed out the kinks in their initial plan, settling on the right mix of products, markets and approaches.
>>>Princeton Power designs and makes advanced power converters that lower the cost of electricity from solar and wind sources, reduce
industrial energy use and operate submarines more quietly, cleanly and cost-effectively.
>>>The energy market is full of older, established corporations, and that presents a challenge for an upstart like Princeton Power.

“As a small company, it is difficult to project the credibility and reliability required in our markets,” says Hammell, company’s president and chief executive officer. “We have had companies tell us everything we did was perfect, but their superiors requested that they find a more established company to take
over the project.”
>>>Nonetheless, Princeton Power has been able to snag experienced entrepreneurs and business people to aid in its development. The company has also won substantial contracts with both private and government entities in an era when energy conservation is on many people’s minds. Sales in 2005 were more than
$1.5 million.

Visit the Princeton Power Systems Website

© 2006 Journal Publications Inc. All information on this site are copyright of Journal Publications Inc. All images are the sole property of Journal Publications Inc. and no rights are granted for any use without the express written consent of Journal Publications Inc.