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Indy Power Systems technology cited by Discovery magazine

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He started out to make an electric car and wound up with a device to blend and regulate power among different types of electric batteries.

It’s not as exciting as a car, but the gadget developed by Steve Tolen’s Indy Power Systems wound up the 19th slot in the top 100 stories of 2009 by Discover magazine.

Noblesville-based Indy Power was lumped in with other transformative battery technologies to power the car of the future, along with work on a five-minute battery-charging technology by a team from Massachusetts Institute of Technology.

Discover credited Indy Power’s device for its ability to blend power produced by high-performing-but-expensive lithium-ion batteries and less-expensive-but-heavy lead-acid batteries and other types of batteries, “offering a transitional technology until lithium energy storage gets cheaper.”

His company’s gadget may have more lucrative uses in industrial and military applications, where weight isn’t an issue and various battery types are in use that can be blended.

Indy Power has yet to announce a major customer for its device.

Tolen initially planned for his company Symphony Motors to produce a vehicle.

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  • Take the Money & Run
    There is no doubt that Tolen has several good ideas daily or perhaps weekly. This is his second BIG venture as the first was Symphony Bank whose 200 plus shareholders lost their investment ($12,000 million) dollars to his hubris style. He was trying to open Symphony Motors to rub it in their faces but now its a battery company. If you see him coming run the other way. bankalchemist.

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