Squires Turbo Systems (STS) is banking its success on a simple theory: Trends will come and go, but the need for speed will never go out of style.

Founder Rick Squires and his team at STS own a handful of U.S. patents on an innovative method of turbo charging a vehicle. With revenues of over $2 million in 2007, STS is poised to experience hyper-growth in 2008. Squires believes he has the product and the management team to make it happen.

“We’ve had great people surrounding our product from day one,” Squires says. “People like our chairman, ‘98 Ernst and Young Entrepreneur of the Year Eric Ruff, and others have made great contributions to our success. With a team like ours, it’s hard to go wrong."

Squires’ flagship product is a turbo charger that dramatically increases the horsepower and torque of a vehicle without risking harm to the engine and increasing emissions. Here’s how it works:

Most turbo chargers are situated under the hood of the vehicle where they reach temperatures approaching 2,000 degrees, posing a serious threat to plastic and rubber engine parts. In addition, today’s cramped engine designs leave little room for traditional turbo chargers.

Squires created a solution by inventing a turbo charger that stays cool enough to place near plastic parts. Additionally, the charger is located in the rear of the vehicle away from the engine, eliminating any space concerns.

The technology has not gone unnoticed by the automotive industry. In its earliest stages, STS Turbo was awarded the 2005 GM Design Award for Best High Performance Product, and most recently received four new product awards at the SEMA 2007 show.

Squires is quick to point out that his company’s success has come at a price. He initially self-funded the company, risking his family’s financial security and his own career.

“You had better choose to do something that you would do for free,” Squires advises new entrepreneurs. “Because sometimes that’s exactly what you’ll be doing.”

Fortunately, it has been a long time since Squires and his team have worked for free. At press time, there were more than 150 STS Turbo distributors throughout the United States and Canada, and Squires says more distributors are joining every week. His company recently caught the attention of dozens of VCs and angel investors at a recent FundingUniverse speedpitching luncheon. He is now entertaining offers from more than one investment group.

“Our time for experimentation has long passed,” Squires says. “We know which strategies work and which ones don’t. Now, we’re ramping up for the next stage of growth when we will implement our strategy and watch all of our hard work pay off. Trends come and go, but the need for speed will never go out of style. Speed enthusiasts have shown amazing resiliency through all cycles of the economy due to their passion for fast cars. We offer a patented system that dramatically increases the horsepower and torque of any vehicle more easily, efficiently and cost-effectively than any product on the market.”
     
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