New Scale Technologies, Inc.
|Title:||Founder and CEO|
|Executive Summary:||New Scale Technologies, Inc. makes the world’s smallest linear actuator called the SQUIGGLE motor. Compared to other micro motors this patented design is one half the size and achieves ten times better position resolution and push force. The largest market for SQUIGGLE motors is auto focus and optical zoom in mobile phone cameras, which is forecast to grow from 500 million/year in 2005 to 900 million/year in 2009. This emerging market will need more than one billion tiny motors per year. The top three mobile phone handset manufacturers are in contact with New Scale as well has the top tier camera modules suppliers. In July 2006, New Scale signed a license agreement with Tamron Co. Ltd. (Japan) and in February 2007 Tamron’s first optical zoom module was announced. New Scale is investing $1M to create an automated manufacturing facility in Victor, NY with capacity to 100,000 SQUIGGLE motors per month and also pursuing Asian manufacturing partners with capacity greater than one million per month. Revenue in 2006 exceeded $2M with significantly greater cash flow and 2007 revenue is projected to be greater than $6M. The revenue objective for 2010 is sales greater than $75 M.|