WILLOWBROOK, Ill. – Midtronics Inc. tops Crain's Chicago Business' annual "Eureka Index" as Chicagoland's most innovated company.
The rankings are based on an exclusive analysis of patents by Ocean Tomo, LLC, a Chicago-based merchant bank that specializes in evaluating intellectual property. Midtronics had Chicago’s highest-rated portfolio of patents granted in 2013, based on key criteria including uniqueness of the idea and likelihood for product development.
Ocean Tomo’s algorithms assess both patent quality and strength, arriving at a total Eureka Index score. The overall Midtronics score of 171.8 put the company in the top position. According to Ocean Tomo, a score over 150 puts patent portfolios in the top 5 percent of all U.S. patents. Midtronics finished 4th in 2011 and 6th in 2012.
“Innovation and a dedication to invention and re-invention have always been core values for Midtronics,” said Steve McShane, founder and CEO. “With customers who rely on our expertise, we are committed to staying ahead of the curve on battery technologies and the best solutions for managing and monitoring them.”
Midtronics CTO Kevin Bertness has amassed more than 110 patents in his 20 years with the company.
“The technology we are patenting today may not see commercial viability for 5-10 years down the road,” Bertness said. “But we and our customers can’t afford to wait to develop solutions that will safely and effectively optimize, manage, and monitor the batteries of the future.”
Midtronics was founded in 1984 and has two divisions focused on transportation and stationary battery solutions respectively. It counts among its customers most global vehicle/battery manufacturers, telecommunications, and power generating companies.
From a press release. Posted by Vince Guerrieri