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January 16, 2009 – Vol.13 No.43 ReVolt Technology, Ltd Receives Additional 10 Million Euro ($13 Million) B Round Investment. ReVolt Technology, Ltd, which has developed a rechargeable zinc-air battery, has received a new round of investment from NorthZone Ventures, SINTEF, SOFINNOVA Partners, TVM Capital, Verdane Capital and Viking Venture and new corporate venture investor RWE Innogy. RWE Innogy holds the renewable assets of RWE, a pan-European leader in power production. The investment combined with a 5.5 million Euro ($ 7.2 million) investment in 2007 by current investors brings the total B round commitment to 15.5 Million Euro ($20.3 million) and total amount invested in ReVolt technology since inception to 24 Million Euro ($31.4 million). “We are very excited to support and join the Revolt Technology effort to transform the landscape for renewable energy storage,” stated Crispin Leick, responsible for the Venture Capital activities at RWE Innogy. “ReVolt’s technology is very compelling for applications small and large, and it has the promise to provide game-changing solutions for energy storage. We look forward to contributing to the development of a great technology and company.” ReVolt’s zinc-air, rechargeable battery technology provides a high energy solution for consumer and industrial market applications that is environmentally safe, reusable and recyclable. Revolt’s zinc-air technology offers up to three times the energy density of lithium-ion in an inherently safe and cost-effective package representing a major leap forward and compelling value proposition for energy storage applications.
ReVolt’s batteries may enable more high-power consumer devices and increase the runtime of existing consumer devices significantly. The technology is a result of six years of intense research and development at SINTEF (the largest independent research institute in Scandinavia). (1/15/09)
Links: ReVolt Technology RWE Innogy
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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