The amount of the deal was not disclosed. Director Thomas Urban led the investment for Intel Capital.
The company also has announced a business collaboration with Intel’s New Business Group with a focus on accelerating the introduction of Prieto’s full 3D solid-state battery cell into the marketplace.
Incorporated in 2009 and led by Dr. Amy Prieto, CEO and CSO, Prieto Battery aims to commercialize patented 3D lithium-ion battery technology and patented an electroplating manufacturing process for its battery that uses non-toxic materials. Having demonstrated the fabrication of key battery materials and components in 2014, the company is now working to optimize battery prototypes and ready them for commercialization. Prieto is initially focused on introducing a novel 3D anode in late 2016 to replace a segment of the market served by conventional graphitic anodes, and then will incorporate that anode into its patented 3D Lithium-ion, solid-state battery cell.
The company, which will rely on work with companies like Intel to guide and accelerate marketplace introductions, is actively seeking investments in its Series B-1 round. For more information on investments, contact Katie M. Hoffner, Senior VP of Strategy.