Flagstaff-based, Motor Excellence is continuing to shift its focus toward new applications and technology licensing. The company recently announced an additional force reduction as part of its transition plan started in November 2011. An additional 10 Full-time positions have been terminated.
According to Jon Mrkonich, Motor Excellence (ME) president, the transition requires the company to focus on the continued development of motors for robotic applications, capitalizing on interest from prospective customers for other custom development, and licensing of our technology.
“Our business model was based on a hub and spoke strategy. For the past year, we’ve been staffing up and building our infrastructure to advance plans for spoke companies focused on large generation and propulsion. While achieving promising results, those plans are being put on hold as we focus our resources on licensing and commercialization of motors for specific applications. As a result, we continue to lean down and focus our resources on key projects,” says Mrkonich.
Last year Motor Excellence’s headcount grew to 56 full-time positions before expected capital funding fell through. This led to a force reduction late last year. The company is now proceeding with 20 full-time employees.
“Reduction of ME’s team is a challenge for us all as it impacts the lives and livelihoods of people we care about and consider family. It’s a difficult, yet necessary action. We continue to streamline our operations, cut costs, and build a foundation so we can go the distance,” says Mrkonich. “Our board, investors, and senior leaders understand the challenges associated with many start ups and have set forth this plan to mitigate those risks and see us through,” adds Mrkonich.