October 15, 2002

Silicon Valley Company Relocates to Indiana to Partner with Rose-Hulman Ventures

Rose-Hulman Ventures, a technology-based incubator and product development center, today announced a partnership with LE Incorporated (LE), who recently relocated its headquarters to Indianapolis from San Jose, California. Located in a 10,000 square foot tech-center on the north side of Indianapolis, LE maintains sales offices in San Jose, California and Jackson, Michigan. 

LE Incorporated is a leading developer and manufacturer of compact, lightweight, high efficiency amorphous metal motors and generators for the automotive, mobility and power generation markets. A major emphasis of the company is in applying its systems into existing legacy based products and services as well as the emerging power generation, hybrid electric and fuel cell electric vehicles market. 

Since 1998, LE’s proprietary technology allows them to be the only company able to use amorphous materials and therefore the clear choice for high performance, cost effective applications. Located in a 10,000 square foot tech-center on the north side of Indianapolis, LE maintains sales offices in San Jose, California and Jackson, Michigan. 

Matt Johnson, president and CEO of LE Incorporated said, “LE completed a very exhaustive analysis when searching for the company’s future headquarters. Indiana quickly moved to the top of the list. The talent pool for LE to draw upon here is second to none. Rose-Hulman Ventures was an important piece in our decision. Their program allows us to grow our business here at a much quicker pace and creates a steady flow of talent and services in the future. Their financial commitment to the company further exemplifies their dedication to building Indiana’s technology growth. We expect a very long and successful relationship with RHV.” 

Under the terms of the agreement, Rose-Hulman Ventures has committed $1.1 million to provide engineering services and financing.  Rose-Hulman Ventures’ first project is the design and construction of facilities at RHV’s Terre Haute site for performance testing of LE’s machine designs. Rose-Hulman Ventures is also working along side LE on other aspects of product design, development, and enhancement.  

Rose-Hulman Ventures president Jim Eifert said, “We consider LE’s decision to move to Indiana a strong endorsement of Indiana’s ability to attract high-tech companies from the west coast.  Indiana offers access to a wealth of technical talent, a very cost effective product development environment, and an excellent strategic location for eventual manufacturing and distribution of products like those under development by LE.  For Rose-Hulman Ventures and for Indiana, LE provides the opportunity to partner with a company introducing disruptive technology into what we perceive to be a rapidly growing market segment. We hope this relationship will lead to many similar opportunities.”   

Lt. Governor Joe Kernan, who serves as the director of the Indiana Department of Commerce, added, “We appreciate LE Incorporated’s recognition of the many positive aspects of Indiana’s economic infrastructure, including our skilled workforce, high quality of life, and pivotal geographic location. Rose- Hulman Ventures’ participation in this project underscores its tremendous potential to assist us in attracting high-tech businesses to the state and validates Rose-Hulman Ventures’ mission to foster the growth of innovation-based businesses and to create economic vitality.”  

Rose-Hulman Ventures is the technology-based incubator, product development center and venture capital arm of Rose-Hulman Institute of Technology.  Rose-Hulman Ventures was established to create economic growth and career opportunities for technical professionals in Indiana as a result of a $29.7 million grant from the Lilly Endowment, Inc.  

For the fourth consecutive year, Rose-Hulman Institute of Technology is ranked No. 1 by U.S. News and World Report magazine among all colleges and universities that offer the master’s as the top degree in engineering. The ranking is based on a national survey of engineering educators.