Contour Energy Systems, an Azusa, CA-based portable power company commercializing next-generation battery systems, has completed its over $20m Series C round of financing.
The round was led by Singapore global fund EDBI, with participation from new backer SBI Jefferies Asia Fund L.P. and existing investors CMEA Capital, Harris & Harris, Schlumberger and U.S. Venture Partners.
The company intends to use the funding to continue to expand its R&D efforts in carbon-fluoride chemistries and its production capacity, as well as allocate working capital in support of projected sales growth.
Contour plans to commercialize and accelerate time-to-market cycles for its portfolio of primary and rechargeable batteries targeting applications in consumer, industrial, medical, military and specialty markets worldwide.
Led by CEO Joe Fisher, the company, which has over 45 patented and patent-pending technologies, also maintains exclusive technology licensing agreements with the California Institute of Technology, CNRS and the Massachusetts Institute of Technology, as well as strategic partnerships with Jet Propulsion Laboratory, NASA, Schlumberger, and other academic and private institutions.
FinSMEs
06/10/2011