Contour Energy Systems has raised a Series C round of financing from Singapore’s leading global fund, EDBI (EDB Investments Pte Ltd.) and previous investors CMEA Capital, Harris & Harris, Schlumberger and US Venture Partners. Contour Energy is a spinoff of the collaboration between CalTech and CNRS focused on developing new fluorine-based battery chemistries, nanomaterials science and manufacturing processes for lithium-ion energy storage systems (earlier post).
Contour Energy will apply this latest round of funding to expanding its breakthrough research and development efforts, production capacity expansion and funding working capital growth. These parallel initiatives are specifically designed to commercialize and accelerate time-to-market cycles for its portfolio of primary and rechargeable (secondary) batteries targeting applications in automotive, consumer, industrial, medical and military markets worldwide.
We view Contour’s next-generation battery technology as potentially disruptive and differentiated from existing energy storage alternatives. Locating Contour’s Asian headquarters and R&D center in Singapore, an international business hub with a vibrant R&D landscape, will expedite the commercial rollout of Contour’s game-changing technology. Contour will be well placed to tap on EDBI’s extensive networks and connections to expand its global footprint through new business opportunities in Asia and the world.—Chu Swee Yeok, Chief Executive Officer of EDBI
Comprising battery industry veterans and research specialists including co-founder Dr. Robert Grubbs, a Nobel Laureate in chemistry with Caltech, Contour has amassed over 45 patented and patent-pending technologies. The company 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.