Thin film battery startup raises money

October 24 2008 / by Garry Golden
Category: Energy   Year: 2012   Rating: 2

Earth2Tech is reporting that thin-film lithium-ion battery start-up Planar Energy Devices, has announced $12 million financing deal as it prepares to release its PowerBladeâ„¢ product in 2009.

The demand for safe, energy dense storage systems will only continue to grow as more consumer gadgets, wireless sensors, and micro devices hit the marketplace.

Planar hopes to capture its share of this growing market (Est. $55 billion) with its thin film solid state battery design that uses a unique cell separator to prevent overheating and potential fires common to lithium ion.

This is Planar’s second finance round. It was spun out of the U.S. DOE National Renewable Energy Laboratory (NREL) with an initial $4 million in 2007 with venture-financing from Battelle Ventures and Innovation Valley Partners (IVP).

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