Prieto Battery receives investment from Stanley Ventures for new technology
Posted: May 23rd, 2016
FORT COLLINS – Prieto Battery, an advanced 3-D lithium ion battery technology company spun out of Colorado State University, has announced a strategic investment from Stanley Ventures, the newly formed venture arm of Stanley Black & Decker. Stanley Black & Decker is a world-leading provider of tools and storage, commercial electronic security and engineered fastening systems.
“This investment from Stanley Black & Decker is an important step toward bringing Prieto’s innovative battery technology to market,” said Amy Prieto, CEO, CSO and co-founder of Prieto Battery, and an associate professor in CSU’s Department of Chemistry. “Securing strategic partnerships has been a focus for us, both as a way to capitalize our company and as a way to define the markets where our battery technology can demonstrate a competitive advantage.”
Larry Harper, vice president of Stanley Ventures, said: “The goal of this collaborative relationship between Stanley Black & Decker and Prieto is to bring their innovative technology to market through our world-class brands and industry leading products.”
In November 2015, Prieto Battery also announced a partnership with Intel’s New Business Group, and an investment from Intel Capital.
Prieto Battery Inc., based in Fort Collins, was founded in June 2009 to accelerate the shift of Prieto’s innovations from the research laboratory to the commercial marketplace. The company’s mission is to commercialize a patented 3D lithium-ion battery technology that delivers transformational performance at a competitive cost using non-toxic materials, and with the ability to customize shapes.
Since its incorporation, Prieto Battery has made significant strides in achieving its goal to produce a truly disruptive and transformational battery technology through its patented 3D battery architecture.
Alongside the technology, Prieto has also patented a unique electroplating manufacturing process for its battery that uses non-toxic materials and will be price competitive.
For more information, contact Katie M. Hoffner, Senior VP of Strategy, Katie.Hoffner@PrietoBattery.com.
Full article available at SOURCE.