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 6C 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.

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Dan Alpern, Marketing & Communications
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