Cumulus Energy Storage Ltd Selected to Present at CleanEquity Monaco 2015
LONDON, Feb. 12, 2015 /PRNewswire/ -- Cumulus Energy Storage Ltd will present at CleanEquity Monaco 2015 on March 5th & 6th at the Oceanographic Museum of Monaco.
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CleanEquity Monaco is an annual invitation-only event hosted by Innovator Capital, the London based boutique investment bank.
Other partners and sponsors include Prince Albert II of Monaco's Foundation, Covington & Burling, Porter Novelli, Cranfield University, The Climate Group, PR Newswire, the Monte-Carlo SBM, Oceanographic Museum of Monaco and the Monaco Chamber of Economic Development.
Cumulus Energy Storage has been identified by an expert panel as one of the world's most innovative cleantech companies and has been selected to present to senior financial and strategic cleantech investors, policy makers, legislators, end users and media.
Cumulus Energy Storage is 'enabling renewable electricity' -- by developing the lowest cost grid-level energy storage battery.
The problem we are solving is that the grid isn't designed for the increasing percentage of variable and intermittent renewables generation -- it needs a buffer and apart from pumped hydro, there isn't a low-cost solution; hence the need for our 1-100MWh Copper/Zinc battery.
To date we have received $1.2m grant funding from the UK government, plus $375k seed. We are attending CleanEquity Monaco to ask for £1m second-round seed, followed by £4m A-round finance, to enable us to develop 1MWh/month of energy storage battery manufacturing capacity in Sheffield, UK by December 2016.
We have UK patent granted, international (PCT) patent pending, plus 9 individual country patents and a nest of 4 supporting patents applied for.
The management team of 3 has over 20 years of battery development experience. Both Nick Kitchin (CEO) and Darron Brackenbury (COO) are professional engineers with MBAs from London Business School. Nick's background is mainly plastics and chemicals production, including Shell, plus strategy consultancy. Darron has worked on two major battery projects and floated a technology business on AIM in 2007. Mike Hurwitz (CTO) has Masters level Chemistry education and is the principal inventor of our battery. Darron, Mike and our R&D team are based in San Francisco.
Contact:
Nick Kitchin - CEO
Tel: +44(0)1246 866199
Mobile: +44(0)7870 455995
Email: [email protected]
Website: www.cumulusenergystorage.com
About Innovator Capital
Innovator Capital is a boutique investment bank advising emerging technology companies from around the world. Established in 2003, Innovator focuses on the provision of expert strategic and capital markets advice, transaction arranging and M&A services for private and public companies.
SOURCE Innovator Capital
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