A big future for New Brunswick automotive company
Big future for New Brunswick automotive company
Whether they interest you or they don’t, electric vehicles (EVs) are here to stay. And the reason goes far beyond reducing the carbon footprint of our cars, trucks, and SUVs. Consider it this way, EVs represent an opportunity to rethink how we drive.
Potential Motors, a New Brunswick start-up, sees this gap in the multi-billion-dollar EV market.
Sam Poirier, the company’s CEO, is leading a high caliber team in developing of a new technology called RallyAI that makes EVs safer and more responsive than conventional vehicles. They’re building a vehicle control system that enhances an electric vehicle drivetrain with the latest sensors and software that uses Artificial Intelligence RallyAI is smarter and faster than any human driver. It operates at the speed of processors, software, and electric motors to control the acceleration, steering, and braking. RallyAI doesn’t replace the driver; it augments their abilities and reaction times; it enables the vehicle to perform maneuvers faster than any human could. Simply put, this will make EVs safer by supporting independent wheel vectoring, allowing a vehicle to manage (or avoid) hazardous conditions automatically.
Pretty cool, right?
A mission to foster a new driving experience combined with their smart technology has attracted top talent to their team.
Their leadership team includes New Brunswick start-up veterans Marcel Lebrun, Chris Newton, and Chris Ramsay, who were the co-founders and chief executive leadership at Radian6, which was acquired by Salesforce in 2011 as the CVCA deal of the year. Their vision has attracted multiple Ph.D.’s in AI and vehicle dynamics from all around the world! Collectively this team has dozens of years of experience as part of the automotive industry.
Potential Motors has a stacked roster of operational, technical, and business development knowledge under one roof. Combine that with the automotive passion and experience from Sam Poirier (CEO), Isacc Barkhouse (CTO), and Nick Dowling (COO); huge things are possible (and happening!).
This combination of leading-edge technology and proven leadership has attracted $2.5 million in funding, including $500,000 from NBIF.
Sam knew his team could build a significant EV software company right here in New Brunswick. Fredericton is a hub for software talent, and they are harnessing it for Potential Motors. With the funding from NBIF and their other investors, they have the runway they need to make their vision a reality.
And from our team’s perspective, we knew from the beginning that opportunity lay within Potential Motors. The experienced team, growing market, and innovative product made this investment decision easy. Potential Motors is well on its way to becoming a globally relevant company.
To read more about Potential Motors or stay up to date on their technology, visit their website here.
NBIF Investment Manager