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Tuesday, September 20, 2016

Flexible battery firm raises $5m to move its technology into IoT

By Nick Flaherty

Lithium polymer battery maker BrightVolt is an interesting company for IoT developers. The company is raising over $5m from a venture capital firm called New Science Ventures to move its flexible battery technology into the Internet of Things.
The thin film solid state battery technology, Polymer Matrix Electrolyte (PME), can be used in reflow PCB manufacturing processes as it can withstand the high temperatures without being damaged. This would allow the flexible, very thin batteries to be easily added to IoT nodes by being laminated into the PCB, especially where they use energy harvesting. 
“There is enormous upside market potential for BrightVolt battery technology in the expanding IoT space, including sensors, labels, medical devices and wearables,” said Todd Peters, BrightVolt CEO. “As the numerous uses for our revolutionary and patented battery chemistry continues to multiply, with this investment so will our ability to meet global market demand. Our partnership with New Science Ventures accelerates our ability to lead new battery development and meet the world’s need for safer, smaller and more powerful batteries.”

“As power requirements for semiconductors keep coming down and IoT applications experience rapid growth, many players are looking for flexible form factors to power these distributed devices,” said Vivek Mohindra, New Science Ventures partner and board member. “BrightVolt’s proprietary technology changes the way batteries are developed, and speed innovations in areas where new types of flexible and safe batteries are needed. Our continued commitment to BrightVolt reflects our strong belief in their industry-leading technology and the current direction of the company.”

The technology has already been used to manufacture more than 10 million batteries, and the company is evaluating additional funding from other parties interested in investing.

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