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Posted: November 18, 2008
EnerG2 Introduces Advanced Nanomaterials for Energy Storage Breakthroughs
(Nanowerk News) EnerG2, an innovative engineered materials company with a strong track record of backing from the public and private sectors, including clean-tech venture capitalists, announced today that it is introducing advanced nano-structured materials for energy storage breakthroughs.
The five-year-old firm's state-of-the-art solution revolves around customized electrode materials that enhance energy and power density in ultracapacitors, one of the essential engines of the new energy economy.
Ultracapacitors, which are dependent on the performance of their materials, store and release more energy faster than conventional batteries. The size and make-up of the electrodes' surface area helps ultracapacitors store and supply large bursts of energy; the materials also effectively enable limitless cycle life.
Looking forward, ultracapacitors containing EnerG2 materials will be increasingly embraced by the automotive industry for hybrid electric vehicles, by electronics manufacturers for enhancing the life and usability of consumer goods, and by a variety of industrial customers to deliver an ever-increasing breadth of new ways to improve energy efficiency.
Materials That Matter
"We believe that efficient, reliable and cost-effective clean energy storage will be an essential element in the New Energy Economy," says Rick Luebbe, CEO of EnerG2. "And that's why we're approaching the problem with engineered materials solutions. It's the materials that matter in energy storage devices."
EnerG2's unique process controls the molecular structure and assembly process of pure carbon materials at the earliest stage possible. The benefit of this ground-up approach is that it leads to greater flexibility, lower costs and maximum performance.
Overcoming Energy Storage Limitations
"Rather than accept the limitations of naturally occurring materials, EnerG2 uses materials science to assemble cutting-edge products at the molecular level," explains Lee Cheatham, Executive Director of the Washington Technology Center (WTC), an original supporter of EnerG2. "As a result, the company shows great promise for overcoming today's energy storage limitations."
In addition to WTC, EnerG2 and its scientific approach to energy storage has been backed over the past five years by the University of Washington, WRF Capital of Seattle, Washington, the Sustainability Investment Fund of Portland, Oregon, OVP Venture Partners of Kirkland, Washington, Firelake Capital Management of Palo Alto, California, and members of the Northwest Energy Angels.
Last month, EnerG2 raised $8.5 million in Series A financing. The financing was led by OVP and Firelake.
In the future, EnerG2 materials may be used to improve natural gas, methane and hydrogen storage as well as lithium-ion batteries.