INVEST's Paper Battery Wins NYSERDA Award
Funds will be used to take ultra thin ultracapacitor prototypes to pilot production
Unique Energy Storage Product Can Be Made to Fit Nearly Any Space
[NYSERDA INVEST Paper Battery press conference]Francis J. Murray, Jr., president and CEO of NYSERDA, presents $1 million award to INVEST's Paper Battery Company at The Sage Colleges on September 26, 2011
Troy, NY --- The Paper Battery Company, a three year old company located at the Russell Sage College INVEST Incubator, has been selected to receive a $1 million award from The New York State Energy Research and Development Authority (NYSERDA) to continue development of a fully printed energy-storage device that is as thin as a piece of paper.
NYSERDA’s funding will be matched by the company and private investors.
[NYSERDA INVEST Paper Battery press conference] Congressman Paul Tonko (center) and Sage President Susan Scrimshaw with Shreefal Mehta (on right) CEO of Paper Battery
Ultracapacitors are energy-storage devices that give off short bursts of energy and, in one application, are used by computer manufacturers to provide emergency power to allow equipment to finish processing and save critical data changes in the event of a power outage or other problem, potentially eliminating the need for energy-inefficient lead acid battery UPS systems. The technology also has a variety of clean- energy applications, including hybrid electric cars (for rapid acceleration and regenerative braking), flexible solar panels, and other products that require high power and long charge/discharge cycle lives.
“Ultracapacitors serve a vital role in the clean-energy economy, and Paper Battery’s product design make it unique in this growing market,” said Francis J. Murray Jr., President and CEO of NYSERDA. “NYSERDA is proud to invest in a company that sits at the exciting intersection of nanotechnology, advanced materials and energy storage.”
“I commend NYSERDA and the Paper Battery Company for their partnership that will help this cutting edge technology realize its commercial potential,” said Congressman Paul Tonko. “It’s critical that we continue to invest in the innovative ideas that will open up new markets and create jobs.”
Paper Battery has designed an ultracapacitor thinner than any product currently in production today. The company’s innovation is a novel architecture and production process for supercapacitor technology, extensible to battery technology as well. The firm’s first product line is called the PowerPatchTM, which is a patternable device, scalable in voltage, energy and power in a single package. The device uses a cellulose-based material to contain and separate the various components, and its thinness and flexibility allows it to fit around the confines of tightly-packed electronic equipment.
Paper Battery’s design captures 30 percent more energy than other ultracapacitors, according to Shreefal Mehta, the company’s President and CEO. The product is also safer for the environment because it uses less metals than energy storage devices currently being manufactured.
[NYSERDA INVEST Paper Battery]Paper Battery Company CEO Shreefal Mehta accepts $1 million award from The New York State Energy Research and Development Authority
“Thanks to NYSERDA’s funding, the company will be able to retool print stations and build a pilot line in order to meet customer requests for samples,” said Mehta. “This funding will allow the company to position itself for scaling to commercial production, growth and job creation."
The company, which currently employs four people, expects to hire up to 10 new employees by this time next year, with plans to start commercial manufacturing in 2013.
The Paper Battery Company, located at the Russell Sage College INVEST Incubator, has designed a transformational novel architecture and process to print an ultracapacitor thinner than any product currently in production today. The company’s first product line, called PowerPatchTM, is an integrated ultracapacitor that can scale voltage, energy and power in a single unit with high energy density. The device’s patternable architecture allows it to fit around the confines of tightly-packed electronic equipment.
INVEST (Incubator for New Ventures in Emerging Sciences and Technologies), which is comprised of the John Paine Lab Facility, ISES labs and the Esteves Center for Innovation and Entrepreneurship (CIE), is the only incubator/accelerator of its kind at a women’s college in the country and is the only incubator/accelerator in New York’s Tech Valley that offers wet chemistry labs dedicated to chemistry-based companies in the fields of nanotechnology, energy, biotech and pharmaceuticals. To date, over 40 students have been impacted through a combination of internships and research projects within INVEST, ISES and the Esteves CIE. More at: www.sage.edu/invest