Fluorine-based battery company Contour Energy Systems finalizes Series C Funding Round with addition of new investor SBI Jefferies Asia Fund L.P.
Contour Energy Systems, Inc, 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), has finalized its Series C round of financing that now includes SBI Jefferies Asia Fund L.P. as its newest investor. (Earlier post.)
The closed Series C round, totaling more than $20 million, includes Singapore’s leading global fund, EDBI as lead investor. Contour Energy’s previous investors CMEA Capital, Harris & Harris Group, Schlumberger andUS Venture Partners also participated in this investment round.
With this latest round of funding, Contour Energy Systems will continue to expand its R&D efforts in carbon-fluoride chemistries being developed to significantly increase the energy and power densities of next-generation batteries for a broad cross-section of markets.
The company will also apply its new financing to expand production capacity and allocate working capital in support of projected sales growth. A key objective of this strategic investment round is to commercialize and accelerate time-to-market cycles for its portfolio of next-generation primary and rechargeable batteries targeting applications in consumer, industrial, medical, military and specialty markets worldwide.
In addition to broadening its R&D efforts in carbon fluoride chemistry, Contour Energy will continue to advance its nanomaterials science and manufacturing processes for next-generation primary and rechargeable portable power systems.
With a team comprising battery industry veterans and research specialists including co-founder Dr. Robert Grubbs, a Nobel Laureate in chemistry with Caltech, Contour has amassed more than 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.