20 July 2012
Paper Battery Company Awarded as Finalist in the Investment Pitch Competition at the NY New Energy Symposium 2012
Troy, NY—The Paper Battery Company has been awarded as finalist in the Investment Pitch Competition at the Seventh Annual New Energy Symposium in New York City July 18-19, 2012. The competition, now in its fifth year, is hosted by New Energy New York, the Energy & Environmental Technology Applications Center (E2TAC) of the College of Nanoscale Science & Engineering (CNSE), iCLEAN, E2TAC's clean energy incubator at CNSE, and the New York Academy of Sciences.
The Paper Battery Company was selected as one of the top 3 investment-worthy companies from 15 emerging cleantech startups that pitched to an outstanding panel of over 40 regional and national VCs, angels, private equity investors, corporate VCs, investment bankers, and government executives at the Investment Pitch Competition on July 18. Judges were given a pool of hypothetical cash and had to vote by investing their imaginary dollars in the various companies.
Through the last five years, 58 early stage companies that have presented at the New Energy NY Investment Pitch Competition have gone on to raise $160 million in venture capital and government funding to develop clean energy technologies, products, and services.
“Being selected from this group of game-changing energy companies by a highly experienced and diverse investor panel was very encouraging.” said Shreefal Mehta, founding CEO of the Paper Battery Company, “Investors can see our real progress in converting the PowerWrapperTM technology platform technology to first commercial products, focused on valuable applications.”
The winners were invited to the National Renewable Energy Laboratory's annual Industry Growth Forum on 23rd October, 2012 and were presented cash and awards to cover registration and travel to this forum.
The Paper Battery Company has also won over $1 million in competitive awards from New York State Energy Development Authority (NYSERDA) over the last few years, and has attracted over $2 million in private investment to match these awards. The company currently has early commercial prototypes currently in evaluation with commercial partners and interested customers. A development kit is now available for select customers by emailing a request to sales@paperbatteryco.com. The company is now transitioning its production processes to prepare for commercial scale manufacture in 2013.
About Paper Battery Company
The Paper Battery Company, located at the Russell Sage College INVEST Incubator, has designed a transformational process to print an ultrathin ultracapacitor. The company’s first product line, PowerPatchTM, provides scalable voltage, energy and power in a single, patternable package. The long life, environmentally-friendly device reduces battery waste, enhances function of lithium batteries and can be designed to fit in or around the tight confines of portable electronic components. The structurally embedded, high-power sheets make ubiquitous energy storage possible, with transformative impact on power management and usage in computing, electronics and transportation.
Paper Battery Company Media Contact:
Shreefal Mehta, CEO; info@paperbatteryco.com; Ph: 518-244-4628
