U.S. Rep. Kind meets with local businessU.S. Rep. Ron Kind stopped to check in with one of New Richmond’s promising new businesses on April 26.
U.S. Rep. Ron Kind stopped to check in with one of New Richmond’s promising new businesses on April 26.
Kind met with officials from Engineered Propulsion Systems Inc. at their offices in The Creamery building. Co-owners Michael Fuchs and Steven Weinzierl provided an update on the company’s progress.
EPS is in the midst of developing a new diesel engine for the general aviation market. The business is nearing the completion of a working prototype, which will be unveiled by mid-July, if all goes according to plan.
“Getting ready to take this to the next level?” Kind asked.
“We’re definitely on track,” Fuchs said.
EPS has run into a few bumps along the way, Weinzierl noted. Most recently, the company had trouble getting a used car engine from Germany through U.S. customs. It took more than four weeks to get the shipment through.
“That was quite a fiasco,” he noted.
“It sounds like a nightmare,” Kind said.
But there has been some good news in recent weeks.
Weinzierl said the engine designers have been able to knock off about 18 pounds from the weight from their prototype, and when you’re working with aviation engines, any time you can drop a few pounds the better it is.
EPS has also received some encouragement from the Department of Defense, which is interested in the new technology.
The company’s financing has progressed well, said Paul Mayer, president of the New Richmond Area Economic Development Corp.
When a working prototype is finished, he said, the next round of financing will begin. A number of larger investors are waiting until the second and third phase of the project, he told Kind.
Kind pledged to continue to work with the company as the project progresses.