Precursor Energetics Raises Series C Venture Round from Strategic Partner
Financing to Support Continued Development of Advanced Materials for Printed Energy/Electronics Applications
SANTA CLARA, Calif., March 20, 2013-- Precursor Energetics, a developer of advanced materials for energy and electronics applications, today announced that it has closed Series C funding in a strategic investment from a large Asian energy company. The financing will be used to support the Company’s research and development programs, which include development of advanced materials for use in solid state energy and electronics products. Current materials under development include: CIGS absorber materials for thin film solar cells, cathodes and electrolytes for Li-ion battery applications, and an array of materials for use in standard and flexible displays (e.g. transparent conductors, transparent semiconductors, gate dielectrics).
Manufacturers in these markets today are limited to materials characterized by combinations of low performance, poor film quality, non-uniformity, and/or costly deposition methods. Precursor Energetics has developed advanced material solutions that offer high levels of optical/electronic performance and film quality, while being suitable for low-temperature/low-cost, printing-based deposition via use of molecular precursor inks.
“Precursor’s molecular technology can revolutionize the cost, performance and manufacturing of energy and electronic devices, and thereby create new generations of products with enhanced functionality, while simultaneously improving utilization of material resources,” says Jonathan Woo, Precursor Energetics’ CEO.
Precursor Energetics’ technology provides atomic-level control over material structure and composition, so the characteristics can be precisely tuned to requirements. This approach improves material uniformity, performance, and yield while eliminating the need for sputtering and thermal evaporation for material deposition. The Company has filed over 50 patents covering these innovations.
About Precursor Energetics
Precursor Energetics is a privately held platform technology company founded in late 2008. The Company utilizes state-of-the-art inorganic and organometallic chemistry, coupled with advanced process engineering and materials science, to satisfy the need for high-value advanced materials and low-cost manufacturing processes in markets ranging from thin film solar cells and thin film batteries to displays and electrochromic windows. The Company’s current investors include DFJ Athena Partners, LLC and Nth Power Fund IV, L.P.
Precursor Energetics is based in Santa Clara, CA. For more information, visit www.precursorenergetics.com.
Jonathan Woo, CEO, 408-351-5606
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