Peoples Bank of Alabama, based in Cullman, Ala., has invested $250,000 in ZeroRPM, a local maker of an “idle mitigation system” designed to power a vehicle and its air-conditioning system for several hours via high-capacity batteries.
PEOPLES BANK OF ALABAMA recently made a $250,000 investment in ZeroRPM, Inc., a start-up company located in Cullman County and supported by the recently formed WSCC Appalachian Regional Center for Entrepreneurship and Renewable Energy Technologies.
ZeroRPM is a start-up company that is focused on reducing fuel consumption and CO2 emissions for vehicles, such as police vehicles that incur significant amounts of idling periods every day. The company recently received support from Wallace State Community College’s President Vicki Hawsey and the new incubator program: the WSCC Appalachian Regional Center for Entrepreneurship and Renewable Energy Technologies. The “new green tech company” was recently launched in Cullman with the assistance of Alabama Governor Robert Bentley who described ZeroRPM as “one of the best examples yet in this state of entrepreneurship and innovation…”
ZeroRPM is a company formed by co-founders: Tod Bennett and Lance Self. The idle mitigation system (IMS) unit, currently under testing with the Alabama State Troopers, Hoover Police and Cullman Police departments, is in its 3rd generation of development and could potentially save police departments thousands of dollars per year in fuel costs and reduce tons of CO2 emissions for each vehicle equipped with an IMS unit.
According to PEOPLES BANK President, Chris Sawyer, “Our ability to invest in ZeroRPM took the work and cooperation of many local and state officials including the State of Alabama Banking Department. Peoples Bank believes that an investment in ZeroRPM is an investment in sound entrepreneurship that will pay big dividends for the local communities and the state of Alabama.”
FDIC insured PEOPLES BANK is headquartered in Cullman, Alabama with over $500 million in assets and has been providing business and personal banking solutions throughout Alabama since 1977.