Rocketruck's executive summary
RockeTruck, founded in October 2020, develops and manufactures power-generating systems and components and is based in Escondido, California.
ion batteries, integrated battery energy storage systems, and advanced power conversion devices using wide bandgap semiconductors. In the slightly longer term (3-4 years), RockeTruck will build on this foundation by expanding into the manufacturing of heavy-duty trucks and buses using zero-carbon propulsion systems, which will utilize similar fuel cell, battery, and power conversion components to those RockeTruck is now manufacturing for near-term mobile power generator applications.
RockeTruck is presently developing advanced technologies and is preparing to move into expanded facilities to support scale-up of manufacturing of all of the products listed above. RockeTruck plans to equip its Escondido manufacturing facility with state-of-the-art renewable power generation and energy storage systems, which will be integrated into one of the world’s most advanced microgrids. This will enable the facility to operate with a zero-carbon footprint, and with several RockeTruck products used in the microgrid, the upgraded manufacturing facility will showcase these products in a high-visibility, real-world application that will help drive product sales. The microgrid will produce more power than required by RockeTruck’s own operations,
allowing RockeTruck to export power to the grid in collaboration with San Diego Gas & Electric (SDG&E), whose Integrated Test Facility is across the street from RockeTruck’s current Escondido facility.
RockeTruck is currently working with SDG&E to develop its mobile hydrogen generator, and has established strong partnerships with an array of other prominent companies to support development of this and other products. To support its fuel cell activities, RockeTruck is working with American Honda Motors to adapt its automotive fuel cells to broader power generation applications. To support its battery manufacturing activities, RockeTruck has partnered with American Lithium Energy, based in Carlsbad, which will co-manufacture lithium-ion battery cells with RockeTruck that will offer higher energy and greater safety than competing battery
manufacturers. To support its integrated battery energy storage system manufacturing, RockeTruck has partnered with AVL Mobility Technologies, based in Lake Forest, which will license to RockeTruck its unique "Cassette Battery" technology, which enables the packaging of lithium-ion battery cells into modules that are safer and more compact than competing battery
module products. To support its power converter manufacturing, RockeTruck is working with major semiconductor suppliers to develop compact, high-efficiency power converters. Other prominent organizations supporting RockeTruck include California State University, Los Angeles, which is providing hydrogen and supporting RockeTruck workforce training and community outreach activities; Sandia National Laboratories, which is supporting RockeTruck's power conversion product development; and a second California-based utility – Southern California Edison (SCE). RockeTruck’s utility partners are playing a key role in helping to conduct laboratory and field testing of RockeTruck's power-generating systems. RockeTruck's partnerships with these world-class companies demonstrate the respect RockeTruck has earned in the power generation industry during its brief 3-year history.
Following its formation, RockeTruck raised private seed capital from a group of private investors that includes two of RockeTruck's co-founders. Since early 2022, RockeTruck has leveraged this investment by securing approximately $5 million in non-dilutive funding from multiple public sources, including the California Energy Commission, the U.S. Department of Energy, and the South Coast Air Quality Management District.
RockeTruck has succeeded in attracting prominent investors and partners because of its compelling, timely vision and the unparalleled experience and track record of its corporate leadership team. RockeTruck’s three top executives – CEO Michael Simon, Chief Scientist Paul Scott, and Chief Engineer Jurgen Schulte – have worked together to develop climate-friendly technologies and products for nearly 30 years, and previously founded two successful startup companies, ISE Corporation and Transportation Power, Inc. (“TransPower”). In 2020, TransPower was acquired by Meritor, the world’s leading manufacturer of axles for commercial vehicles, which helped set the stage for Meritor’s multibillion-dollar acquisition by Cummins in 2022. Products originally developed by RockeTruck’s leadership team, when they were key executives with TransPower, are currently being marketed by Cummins to leading truck and bus manufacturers around the world.