FORT COLLINS, CO — (Marketwired) — 11/03/15 — Prieto Battery, an advanced 3D Lithium Ion battery technology, today announced its business collaboration with Intel–s New Business Group and initial investment from Intel Capital at the annual Intel Capital Global Summit in San Diego. The primary focus of this collaboration with Intel is to accelerate the introduction of Prieto–s full 3D solid-state battery cell into the marketplace.
Specifically, Prieto has agreed to complete a series of milestones designed by Intel and Prieto to demonstrate the company–s battery performance and readiness, with a focus on improving the performance of the battery against size, energy density, and complexity vectors. Intel will be staging their investment to each milestone; and in exchange, Prieto is granting Intel the ability to implement the technology first in computing devices.
“This commitment from Intel, one of the global leaders in computing devices, is important for us at this stage of our company,” said Dr. Amy Prieto, CEO, CSO and Co-Founder of Prieto Battery. “We–ve been deliberate about trying to build relationships with companies like Intel that can help shape our commercialization roadmap and deliver strategic value for all stakeholders — most importantly, the end user of the technology.”
Today–s growing need for energy storage is driving the requirement for a radical change in battery design and production. Since its incorporation in 2009, Prieto has made significant strides in achieving its goal to produce a truly disruptive and transformational battery technology through its patented 3D battery architecture. Alongside the technology, Prieto has also patented a unique electroplating manufacturing process for its battery that uses non-toxic materials and will be price competitive. Having demonstrated the fabrication of key battery materials and components in 2014, Prieto is now working to optimize battery prototypes and ready them for commercialization.
“Prieto–s thoughtful and creative approach to battery innovation is attractive to Intel as we focus on designing and building essential technologies that serve to advance the world–s computing devices. This is particularly true for wearable devices, where a conformal battery with high energy density is highly attractive,” said Jerry Bautista, VP in the New Technology Group and GM of the New Business Group at Intel. “Our goal is to help incubate and accelerate Prieto–s technology into early product implementation that will provide significant market advantage to several of our business units.”
Director Thomas Urban led the investment in Prieto from Intel Capital; terms were not disclosed.
Prieto plans to commercialize two products that focus on a series of applications requiring a combination of high power and energy storage. More specifically, 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. Prieto then will incorporate that anode, which features higher energy density and safety, into its patented 3D Lithium-ion, solid-state battery cell. Prieto will rely on work with companies like Intel to guide and accelerate marketplace introductions.
About Prieto Battery
Prieto Battery Inc., a Colorado company, was founded in June 2009 to accelerate the shift of Prieto–s innovations from the research laboratory to the commercial marketplace. The Company–s mission is to commercialize a patented 3D lithium-ion battery technology that delivers transformational performance at a competitive cost using non-toxic materials. Prieto–s lab and headquarters are based in Fort Collins, Colorado. Additional information can be found at . Prieto is actively seeking investments in their Series B-1 round. For more information on investments or media inquiries, please contact Katie M. Hoffner, Senior VP of Strategy.
About Intel Capital
Intel Capital, Intel–s strategic investment and M&A organization, backs innovative technology startups and companies worldwide. Intel Capital invests in a broad range of hardware, software, and services companies targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested nearly US$11.6 billion in over 1,400 companies in 57 countries. In that timeframe, 213 portfolio companies have gone public on various exchanges around the world, and 373 were acquired or participated in a merger. Through its Global Summit and other business development programs, Intel Capital curates thousands of meetings each year between its portfolio and Intel–s partners in the Global 2000. For more information on what makes Intel Capital one of the world–s most powerful venture capital firms, visit or follow @Intelcapital.
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