Wednesday November 4, 2015 0 comments
FORT COLLINS -- Prieto Battery, an advanced 3D lithium-ion battery technology company, announced a business collaboration with Intel’s New Business Group and an initial investment from Intel Capital.
The announcement was made at the annual Intel Capital Global Summit in San Diego on Tuesday. The amount of Intel’s investment was not disclosed.
Prieto said the primary focus of the collaboration and investment with Intel is to accelerate the introduction of Prieto’s full 3D solid-state battery cell to the marketplace.
Specifically, Prieto said it has agreed to complete a series of milestones designed by the company with Intel to demonstrate its battery performance and readiness with a focus on improving the battery against size, energy density and complexity vectors.
Intel will stage its investment in Prieto on the company meeting each milestone, and will implement the new 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 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.”
Since incorporating 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.
“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,” said Jerry Bautista, Intel’s VP in its New Technology Group and GM of its New Business Group.
“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.”