Infinite Power Solutions, Inc. (IPS)--a company developing thin-film batteries for electronics--announced that it has raised $20 million in series C financing.
The new capital will be used to expand the company’s manufacturing capacity, accelerate the build out of its global sales channels and further support research and development of its THINERGY® solid-state rechargeable energy storage devices.
Existing financial investors D. E. Shaw Ventures, Polaris Venture Partners and Core Capital Partners co-led the financing, which also included Al Gore's Generation Investment Management as a new investor and participation by Applied Ventures, LLC, and two additional strategic investors.
Earlier investors in the company included Texas Instruments and In-Q-Tel.
Founded in 2001, Infinite Power is based in in Littleton, Colorado. The company’s energy
storage products
displace coin cells, supercapacitors, and other micro-batteries in a
variety of applications. The company’s THINERGY MECs and INFINERGY®
Micro Power Modules (MPMs) enable ambient energy-harvesting
solutions to
address the growing demand in the wireless sensor,
active RFID, powered smart card, medical device, consumer electronics,
automotive and civil/military/aerospace markets.
"IPS brings breakthrough rechargeable energy solutions to the universe of small devices," said Alexander Wong, Head of D. E. Shaw Ventures. “IPS’ products enable a plethora of novel applications in multiple markets including wireless, consumer, medical and defense.”
