Thursday May 19, 2016 0 comments
FORT COLLINS -- Prieto Battery, an advanced 3D lithium ion battery technology company, today announced a strategic investment from Stanley Ventures, the newly-formed venture arm of Stanley Black & Decker (NYSE: SWK), a world-leading provider of tools and storage, commercial electronic security and engineered fastening systems.
“This investment from Stanley Black & Decker is an important step toward bringing Prieto’s innovative battery technology to market,” said Dr. Amy Prieto, CEO, CSO and co-founder of Prieto Battery.
“Securing strategic partnerships has been a focus for us, both as a way to capitalize our company and as a way to define the markets where our battery technology can demonstrate a competitive advantage.”
“The goal of this collaborative relationship between Stanley Black & Decker and Prieto is to bring their innovative technology to market through our world-class brands and industry leading products,” said Larry Harper, Stanley Ventures VP.
No details on the investment were disclosed.
Prieto Battery was founded in 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 with the ability to customize shapes.
Since its incorporation, Prieto said it 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.
Connecticut-based Stanley Black & Decker, a Fortune 500 component of the S&P 500, is the world’s largest tools and storage company, the world’s second-largest commercial electronic security company, and a world-leading provider of engineered fastening systems, with unique and powerful growth platforms in the oil & gas and infrastructure industries.