The Grand Junction Economic Partnership (GJEP) has announced that ExoPower Inc., developers of an in-motion capacitive wireless charging technology, has been approved for the state’s Rural Jump-Start Program.
ExoPower has developed an in-motion capacitive wireless charging system for industrial mobile robots, from small picking robots and autonomous forklifts, and eventually to larger electric vehicles (EVs). This breakthrough technology enables these vehicles to charge while they work and move, eliminating the need to halt operations for recharging.
Its technology solves significant industry pain points by dramatically increasing productivity and reducing costs. To maintain 24-hour operation, industrial mobile robots, particularly forklifts, may spend up to 8 hours daily for charging. Warehouse operators often compensate for this by buying additional robots to cover downtime, or investing in costly, space-consuming battery-swapping systems. ExoPower’s in-motion wireless charging removes these operational burdens, substantially lowering acquisition and maintenance costs. Additionally, a substantial number of industrial vehicles still rely on combustion engines. By eliminating the charging downtime hurdle, ExoPower makes electric propulsion more viable for these vehicles, enabling widespread emissions reduction and advancing environmental sustainability.
ExoPower relocated to the Grand Junction area from Lafayette, CO in 2024 and is currently operating through the Business Incubator Center with plans to connect with a local manufacturer to facilitate in-house assembly of its products and later establish a headquarters as it scales. Currently in the research and development stage, ExoPower was previously awarded a grant from the National Science Foundation (NSF) for $252,000 in 2023, and an Advanced Industries Early-Stage Capital and Retention grant of $100,000 through the Colorado Office of Economic Development and International Trade (OEDIT) in 2024.
“Being located in Grand Junction allows us to take advantage of the rural nature of the community. There are many advantages such as the Rural Jump-Start Program and the Advanced Industries Tax Credit Program for high tech companies based in Colorado, especially those outside of the Front Range,” stated Dr. Brandon Regensburger, CEO of ExoPower.
ExoPower adds to Colorado’s economic base by advancing clean tech, creating skilled R&D and engineering jobs, and planning future local manufacturing. The company’s innovative development will attract industrial interest, positioning Colorado as a leader in wireless charging.
“We are thrilled to see ExoPower grow in Grand Junction with support from the state’s Advanced Industries Accelerator and Rural Jump-Start programs. Their work will advance an important new technology while continuing our state’s leadership in the advanced industries and creating new jobs for western Colorado”, said Eve Lieberman, OEDIT’s Executive Director.
The Grand Junction Economic Partnership worked closely with ExoPower throughout their Rural Jump-Start application which will now provide the company with financial incentives and tax relief, including no state, local, or income taxes for up to eight years, allowing them not only to launch and grow, but also contribute to the overall economic base of Mesa County. Through the program, ExoPower is now eligible to receive cash grant funding up to $20,000 to help offset startup costs and up to $2,500 per new hire, for the creation of up to nine new jobs. Through the program, the company will also collaborate with Colorado Mesa University to access its talent pipeline for internships, recent graduates, and alumni.
“ExoPower’s innovative technology will help position Colorado as a leader for clean technology and sustainability. By leveraging the Rural Jump-Start Program, ExoPower can focus on scaling its groundbreaking wireless charging solutions that will help create skilled jobs and contribute to Mesa County’s economic base. Their decision to operate in Grand Junction reinforces our community’s position as an emerging hub for tech and advanced manufacturing. We look forward to seeing ExoPower continue growing in Mesa County!” stated Curtis Englehart, Executive Director of the Grand Junction Economic Partnership.
To be eligible for the Rural Jump-Start Program, companies must be new to the state of Colorado or create a new division with a minimum for five new jobs, must add to the economic base, and export goods or services. ExoPower is the 30th company to be approved for the program in Mesa County, initiated with the assistance of the Grand Junction Economic Partnership.
To learn more about available incentives like the Rural Jump-Start Program and business development services provided by the Grand Junction Economic Partnership, please visit www.gjep.org/business-resources.