PicoSpray expands to 4 as it graduates from TechArb

PicoSpray is reaching a couple of new milestones this fall. The clean-tech start-up recently graduated from the TechArb incubator at the University of Michigan and has landed financing from the Michigan Microloan Fund. The Ann Arbor-based start-up is commercializing a low-cost electronic fuel injection system for the small engine market. The business got its start last year when a mechanical engineering student began developing a super efficient fuel-injection system for the kinds of small engines that drive motorcycles and lawnmowers. The idea is to create a cost-efficient system that is both fuel efficient and cleaner. PicoSpray has been developing its technology at the TechArb over the last few months, utilizing the student-driven small business incubator's resources to continue developing its technology. "We're nearing the end of the development phase," says Lihang Nong, founder of PicoSpray. "We learned a lot. We want to focus commercializing the technology." PicoSpray has also received a microloan from the Michigan Microloan Fund. The microloan specifics weren't released but those loans average about $50,000 in size. PicoSpray's microloan enabled the start-up's team of four people to buy testing equipment and showing quantifiable benefits of the technology. The company has also filed for a provisional ballot for its technology. Source: Lihang Nong, founder of PicoSpray Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.