ExoPower Inc., which is based in Grand Junction at the Business Incubator Center, 2591 Legacy Way, has been approved for Colorado’s Jump-Start Program.

ExoPower developed an in-motion capacitive wireless charging system for industrial mobile robots, such as small picking robots and autonomous forklifts, and eventually for larger electric vehicles (EVs). This technology enables these vehicles to charge while they work and move, eliminating the need to halt operations for recharging.

By reducing charging downtime, the technology intends to dramatically increase productivity and reduce costs, such as acquisition and maintenance costs. To maintain 24-hour operation, industrial mobile robots, particularly forklifts, may spend up to eight hours daily charging. Warehouse operators often compensate by buying additional robots to cover downtime, or investing in costly, space-consuming battery-swapping systems.

ExoPower, which relocated Grand Junction from Lafayette, CO in 2024 plans to facilitate in-house assembly of its products and later establish a headquarters as it scales, according to the Grand Junction Economic Partnership, which worked with ExoPower throughout its Rural Jump-Start application.

The jump-start program provides ExoPower with financial incentives and tax relief, including no state, local or income taxes for up to eight years. Plus, ExoPower is eligible to receive cash grant funding up to $20,000 to help offset startup costs and up to $2,500 per new hire, for the creation of up to nine new jobs. Through the program, the company will also collaborate with Colorado Mesa University to access its talent pipeline for internships, recent graduates and alumni.

To be eligible for the Rural Jump-Start Program, companies must be new to the state of Colorado or create a new division with a minimum for five new jobs, must add to the economic base, and export goods or services.