John Dunn
Knoxville, TN (USA)
Role(s):
Founder/Owner/Principal
USUE
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Startup
Location:
Sweetwater
Industry:
Manufacturing
Year Founded:
2003
Number Employees:
10-50 people
Description:
United States Utility Enclosures manufactures high tech, high strength composite enclosures for the underground utilities industry. We are the only company in our industry to hold patents on significant technology & design targeted at giving us an advantage over our competition.
We recently developed a new recycled composite material called Envirocast that is unique to this industry & the world. It is a fraction of the weight of tradition polymer concrete used in our industry, is closed molded, which is also unique to our industry, can be LEEDS qualified, & is superior in strength, weight, impact, & cost to industry standard polymer concrete.
The mold technology & process technology for this material is also very unique.
Due to this advanced development, we recently secured global contract for telecom product that will make us a guaranteed net profit of $9M per year, with projections without guarantee at year 2 going to $30M net profit. Customer is paying for all tooling.
Once we obtained this contract my partner immediately triggered buyout clause in our contract between us. Although designed to be an even buyout, he is calling in our lines of credit for material & operations, along with his outstanding promissory note, to force me out of the company.
I am looking for equity partner to turn the tables & remove his group, instead of mine. My group is the technology & development arm of the partnership, his is the sales & marketing. Although, they have done such a poor job that we got involved also in the sales & marketing to obtain this & other accounts to USUE direct as OEM's. I am confident our group can replace my partner's group for doing the sales & marketing as well with much greater success.
The pentagon & DOD have tested & approved our recycle Envirocast material as a replacement for steel armament on Hummers.
The Envirocast material is used by Northrup Grummond-Perceptics as sole source for homeland security inspection system, by Miami Dade, as basis for their "going green" campaign for the Automated Meter Reading water metering system. Pentair products is our OEM for the water metering & enclosure industry.
With the new ecomomic stimulus package focused on infrastructure, our industry is positioned for increased demands. We have the only product that works every time, meets all specs, all design provisions, at competitive or below competitive price.