Battery Streak Announces Exclusive Option Agreement; Initial Funding By Act One Ventures

Battery Streak Announces Exclusive Option Agreement; Initial Funding By Act One Ventures

By |2018-09-07T21:02:22+00:00May 8th, 2017|Categories: Press Release|Tags: , , , |0 Comments

Battery Streak Announces Exclusive Option Agreement; Initial Funding By Act One VenturesThousand Oaks, Calif. (May 8, 2017)–Battery Streak, a start-up company created to commercialize ultra-fast lithium ion battery charging technology, announced today that it has entered into an exclusive option agreement with UCLA and has acquired the necessary patents to bring the technology to market. Los Angeles-based Act One Ventures, which funds early stage, high technology companies, is providing initial funding.

The fast-charging technology was developed by two UCLA professors who are leaders in their fields–Dr. Bruce Dunn, Department of Material Science & Engineering, and Dr. Sarah Tolbert, Department of Chemistry & Biochemistry. The technology involves replacing traditional electrodes in standard lithium batteries with Battery Streak proprietary materials that enables batteries to charge at 15C with a longer cycle life and high Coulombic efficiency.

Battery Streak technology can dramatically reduce charge times in a variety of applications including smart watches, cell phones, lifestyle monitors, laptops, hearing aids, medical devices, power tools, industrial robots and forklifts. “We have our sights on electric vehicles,” says David Grant, Battery Streak CEO. “The technology will eventually enable electric car owners to fully charge their vehicle in the time it takes to fill a tank with gas.”

Battery Streak, based in Thousand Oaks, California, expects to exercise its option with UCLA and enter into an exclusive licensing agreement during the third quarter of 2018. The first battery prototypes will be available in mid-2018.

For more information, go to www.BatteryStreak.com/about/.

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About the Author:

The mission of Battery Streak is to bring Ultra Fast Charging to consumers and industry. Our aim is to reduce charging time for all electronic devices to minutes, not hours. Today, Battery Streak technology allows lithium ion batteries to charge at up to 15C with high energy density. We are always working on faster materials and our roadmap has Battery Streak fully charging electric cars in the time it takes to fill up a tank of gas.

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