Prieto Battery Raises $5.7 Million to Accelerate Development of Solid-State Advanced Rechargeable Batteries
FORT COLLINS, Colo., Aug. 18, 2021 /PRNewswire/ -- Prieto Battery, Inc. announced today that it has closed on the first tranche of its $5.7 million Series C Round financing. The investment will accelerate Prieto's development of its proprietary 3D solid-state rechargeable lithium-ion battery. Pilatus Capital, a new investor in the company, led the series C financing with participation of existing investors including Stanley Ventures.
Prieto's novel and patented battery architecture provides higher power capabilities, fast charging, high energy density, low and high temperature operation, and is safer than conventional lithium-ion batteries.
"We welcome Pilatus Capital to the Prieto investor team and are encouraged by the continued support of our strategic partner Stanley Ventures," said Mike Rosenberg, Prieto CEO. "The Series C financing enables us to expand our team and build up the resources necessary to scale our solid-state battery for our partners and customers, as well as initiate the development of high-volume manufacturing processes."
"Prieto's technology is unique and potentially transformative. It is a solid-state system that has the potential for high power and fast charge, but also high energy density and operating safety" said Sebastien Belanger, Pilatus Capital's Principal Executive Officer. "Pilatus is pleased to join the other investors and to work closely with the Prieto team as well as Stanley Ventures to commercialize this breakthrough technology."
About Prieto Battery
Prieto Battery is an advanced technology company focused on the development and commercialization of advanced 3D, solid-state, lithium-ion, rechargeable batteries. The company was founded by Dr. Amy Prieto to commercialize patented 3D advanced battery technology and its lab and headquarters are in Fort Collins, CO. Prieto is an industry leader in the development of advanced technology batteries with its unique 3D battery architecture that enables both high power and high energy density. Alongside the technology, Prieto has also patented a unique low-cost electroplating manufacturing process for its battery that uses non-toxic materials. Please visit www.prietobattery.com for additional information.
About Pilatus Capital
Pilatus is a venture capital firm driven by innovation. We have deep academic foundations and an unwavering commitment to furthering innovation. We seek to join forces with early-stage enterprises that develop high-impact technologies with global reach.
We have spent decades investing, building, and operating successful businesses. We strive to leverage our expertise and networks to identify, evaluate, and enable our portfolio. We aim to provide guidance to perfect, protect, and commercialize these innovations for the betterment of human health, our environment, society, and our investors.
About Stanley Ventures
STANLEY Ventures is the corporate venture arm of Stanley Black & Decker. STANLEY Ventures partners with the company's businesses to drive innovation and push the boundaries of what's possible through strategic investments in startups who are developing technologies that redefine industries. They are "For Those Who Make the World Innovative."
For more information:
Mike Rosenberg
CEO
Prieto Battery, Inc.
970-545-4085
[email protected]
SOURCE Prieto Battery, Inc.
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