BrightVolt Inc., has announced recently the opening of a Series B round of investment. Prominent scientific venture capital firm New Science Ventures is anchoring the Round with $5 million.
Todd Peters , BrightVolt CEO says, "There is enormous upside market potential for BrightVolt battery technology in the expanding IoT space, including sensors, labels, medical devices and wearables". "As the numerous uses for our revolutionary and patented battery chemistry continues to multiply, with this investment so will our ability to meet global market demand. Our partnership with New Science Ventures accelerates our ability to lead new battery development and meet the world's need for safer, smaller and more powerful batteries."
BrightVolt will utilize Series B funds to build on its patented, core battery technology, Polymer Matrix Electrolyte (PME) and to scale its manufacturing by preparing for substantial growth in 2017.
Vivek Mohindra , New Science Ventures partner and board member says, "As power requirements for semiconductors keep coming down and IoT applications experience rapid growth, many players are looking for flexible form factors to power these distributed devices". "BrightVolt's proprietary technology changes the way batteries are developed, and speeds innovations in areas where new types of flexible and safe batteries are needed. Our continued commitment to BrightVolt reflects our strong belief in their industry-leading technology and the current direction of the company".
BrightVolt ultra-thin film, flexible batteries are solid state, meaning they can be heated and laminated onto smart security and payment cards when compared with liquid lithium-ion batteries that can be flammable and toxic when exposed to the environment. For e.g. BrightVolt's proprietary technology provides more rapid development and an efficient cost effective approach to printed manufacturing at scale. This scientific technology has been employed to manufacture more than 10 million BrightVolt ultra-thin film batteries and is the base for future growth.