JumpStart Inc., a Northeast Ohio venture development organization that accelerates the progress of high growth early-stage businesses, recently announced an investment commitment of $250,000 in Myers Motors LLC , a Tallmadge, OH company manufacturing electric vehicles. The company’s vehicle, which is classified as a motorcycle according to the Department of Transportation because of its three wheels, is an all-electric vehicle that is charged using the same alternating current (AC) available in household outlets.
Known as the NmG (“No more Gas”), the single passenger vehicle is reportedly qualified for highway travel, reaches speeds of up to 75 miles per hour, and runs 60 miles on one charge. According to the company, the NmG would meet the needs of the 80 percent of Americans who commute to and from work alone, and accommodate nearly half of Americans’ travel needs beyond work, which include errands and other day-to-day activities done solo as well.
The company plans on using JumpStart’s investment to build out their two-seat prototype vehicle and develop their intellectual property strategy.
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