Ann Arbor's New Eagle gets $2 million investment from Powertrain Integration

Ann Arbor-based engineering services firm New Eagle has received a $2 million investment from Madison Heights-based Powertrain Integration, the Michigan Economic Development Corp. announced today.

Powertrain Integration is also expected to receive approval for a $300,000 technology collaboration credit from MEDC's Michigan Economic Growth Authority board, a special tax credit that's connected to the New Eagle partnership.

New Eagle cofounders Mickey and Rich Swortzel hope to double the company's personnel over the next year.

Photo courtesy of New Eagle

"New Eagle will generate a unique software code for Powertrain Integration’s use in an automotive engine control module," according to a press release. "The collaboration will result in the commercialization of the only large-bore, spark-ignited engine available to the on-highway market. The engine will be used in medium-duty, alternative fuel applications."

Economic development officials said Powertrain Integration plans to add 26 new jobs because of the project, and New Eagle plans to add 15.

New Eagle employs about 10 engineers and five operational employees, although not all full-time.

New Eagle co-founder Rich Swortzel recently told AnnArbor.com that the firm is searching for new office space, too. The startup, which has about 1,300 square feet at an office building on North Main Street and another 1,500 square feet in Scio Township, wants to consolidate into about 7,000 square feet.

The firm, an early recipient of a microloan from a program managed by Ann Arbor SPARK, is also pursuing funding from the $1 million Accelerate Michigan Innovation Competition.

Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.