UW spin-out EnerG2 working on materials for battery alternative |
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UW spin-out EnerG2 working on materials for battery alternative
Providing a longer-lasting alternative to the battery could have huge implications in everything from cars to power tools to elevators.
EnerG2 is hoping to capitalize on that wave with proprietary materials that could help power ultracapacitors, an alternative technology to the battery that doesn't rely on a chemical reaction.
The spin out from the University of Washington is sharing more details about its technology following news last month that it raised $8.5 million in venture funding from OVP Venture Partners and others.
Chief Executive Rick Luebbe said the 6-person Seattle company is taking a different approach from the traditional suppliers of carbon to the ultracapacitors, which he said are trying to "plug a square peg in a round hole."
With EnerG2's approach, Luebbe said that they can assemble carbon materials at a nanoscale. And he noted that the ultracapacitor's that it helps develop will last about one million cycles, versus 1,000 cycles for a traditional battery.
The company, which plans to triple the staff in the next 12 months, will begin selling its electrode powder to ultracapacitor makers some time next year.
Makers of ultracapacitors include NEC, Panasonic and Maxwell, with Luebbe saying there has been a "lot of interest from the target customers."
Raising money during the economic meltdown presented an interesting challenge for EnerG2, though Luebbe said the investors were of the belief that energy storage will be a "critical component of the new energy economy." Investors in the 5-year-old company include WRF Capital, the Sustainability Investment Fund, Firelake Capital Management and members of the Northwest Energy Angels.
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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