New York City, Miami – July 14, 2004 – Fast Ventures client, Gaia Power Technologies, has been named a “success client with great growth opportunity” by New York City-based Industrial & Technology Assistance Corporation (ITAC) in its 2003 progress report. They further nominated the company for the 2004 mayor’s award for its accomplishments in the energy field.

Gaia Power Technologies is uniquely positioned to develop next-generation power management solutions that allow efficient peak shaving, load leveling, and bridging of distributed electrical power for a wide cross section of users and applications. Their unique MSPS (Modular Stationary Power System) technology enables electric utilities to maximize their efficiencies and service five times as many customers without having to install new distribution lines. A slightly different solution serves as a unique peak-shaving device for businesses with short but high power pulses. “This can reduce so-called electricity demand charges by up to 90%” says Bige Doruk, co-founder & CEO of Gaia Power Technologies and translate into significant savings for their customers. Yet another application caters to residential customers that are located in geographical regions that experience frequent power outages either due weather-related problems or overstrained distribution grids. In the event of a power outage Gaia’s Power Tower™ provides online power backup and keeps refrigerators, freezers, pumps, and other utilities fully operational until power has been restored.

“Working with Gaia Power Technologies, has been an incredibly gratifying experience” says Mark Alexander, Director of Fast Ventures’ Technology Group in Miami. We have assisted them with developing a viable strategic business plan that can be used to attract potential equity partners and secure debt financing. So far, the company has been able to secure a term loan from the New York Community Investment Company (NYCIC), extend existing credit lines, and attract significant attention among leading VCs. With initial sales exceeding $1.0 million Gaia has been able to build a solid foundation for launching their MSPS technology nationwide. “They are a textbook case of how to launch a successful technology venture in a time where most other businesses suffer from the current economic downturn” says Mark Alexander. 

Gaia Power Technologies has chosen the Fast Ventures Connect™ services platform to present its business plan and interact with a diverse variety of accredited investors. Registered users are able to review and download Gaia’s comprehensive company profile, fact sheet, and business plan by logging on to our secure Fast Ventures Connect™ services platform.