A simple device that could be the “next big thing” in energy conservation got its humble start when an OU alumnus called the SBA three years ago. Thomas Lasky, CAS ’80, and one of the partners of Bingham Farms-based Hammerhead International, turned to his alma mater to transform Hammerhead’s LogicPlug from an entrepreneurial idea to reality.
LogicPlug captures “phantom” energy — the electricity used to power TVs, computers and other electronics when they are turned off. LogicPlug saves energy by dramatically reducing electricity to an appliance when it is off but ensuring power is full when needed.
Hammerhead was one of the first companies to enroll in the SBA’s Experiential Learning and Innovation (ELI) program based in the SBA’s Center for Integrated Business Research and Education (CIBRE). The program gave Hammerhead access to then-graduate student Shannon Dougherty, who conducted research and analysis and wrote a business plan for Hammerhead’s LogicPlug, under the guidance of her ELI adviser Wayne Blizman, director, SBA’s Entrepreneurship Institute.
That plan helped Hammerhead introduce the product to investors, who quickly put up $1 million in financing, explains Joseph Hodges, the Hammerhead board member who had the original idea for the plug.
“The SBA at OU has been terrific. The business plan was important because it gave us a target to start with and a workable process to follow,” explains Hodges.
While the company awaits its patent, Hodges is demonstrating the product and showcasing it to potential buyers. Hodges proved to the University of Michigan that using LogicPlug on all of its computers could save nearly $1 million a year. Similarly, an upscale hotel in Las Vegas is interested in the plug because the energy savings on TVs alone would be tremendous. At OU, Sri Sharma, associate professor, MIS, is conducting a study evaluating retrofit technology, including the Logic Plug, to help OU conserve energy and save money.
Hodges points out that one plasma television can consume more than $125 a year in energy when turned off. “Do you know how many TVs there are in Vegas?” Hodges asks. “That could be a huge savings for them.”
“I think we’re really on to something, and OU has always been there to help,” he adds.
By Rene Wisely
This article appeared in the Summer 2010 issue of SBA Insight
A simple device that could be the “next big thing” in energy conservation got its humble start when an OU alumnus called the SBA three years ago. Thomas Lasky, CAS ’80, and one of the partners of Bingham Farms-based Hammerhead International, turned to his alma mater to transform Hammerhead’s LogicPlug from an entrepreneurial idea to reality.
LogicPlug captures “phantom” energy — the electricity used to power TVs, computers and other electronics when they are turned off. LogicPlug saves energy by dramatically reducing electricity to an appliance when it is off but ensuring power is full when needed.