Enevate Corp has disclosed that Infinite Potential Technologies LP, a fund affiliated with former Blackberry Ltd co-founder Mike Lazaridis, has provided it with financing. The investment’s value was not released. Concurrent with the funding announcement, Enevate, a U.S. advanced rechargeable energy storage technology company, said Lazaridis has joined its board of directors and will contribute to its transition from R&D to mass production. Infinite Potential Technologies forms part of Quantum Valley Investments, a Waterloo, Ontario-based firm established by Lazaridis and Doug Fregin to invest in early-stage quantum technology companies.
Enevate Names Mike Lazaridis to its Board of Directors
Infinite Potential Technologies an investor in Enevate
IRVINE, Calif., Dec 02, 2014 (BUSINESS WIRE) — Enevate Corporation, a leading developer of advanced rechargeable Lithium-ion (Li-ion) batteries, has announced the appointment of Mike Lazaridis to its Board of Directors. In addition, the company disclosed that Mr. Lazaridis’ fund, Infinite Potential Technologies, is an investor in Enevate. An inventor, technologist, creator and veteran of the smartphone industry, Mr. Lazaridis co-founded BlackBerry (formerly Research In Motion, or RIM), growing it from a startup into Canada’s largest global technology company.
Mr. Lazaridis served in key roles at BlackBerry from 1984 to 2013, including Co-CEO, Co-Chairman, and Chair of the Innovation Committee. With Doug Fregin, he founded Infinite Potential Technologies to invest in development and commercialization of new technologies, and also the Quantum Valley Investment Fund which is focused on early-stage quantum technologies.
Enevate Corporation, based in Irvine, California, is focused on delivering advanced Li-ion batteries into smartphones, tablets, ultra-thin/hybrid notebook PCs, and wearable devices, delivering significantly higher energy density in thinner form factors to enable longer runtimes in less space. Its novel HD-Energy® Technology utilizes silicon-dominant composite anodes for rechargeable Li-ion polymer batteries which dramatically increase energy density over conventional graphite anode cells.
“Mike is a pioneer in the smartphone industry and has helped create that industry and ecosystem from its birth through maturity,” said Brian Wong, CEO of Enevate. “We feel given his extensive experience, especially in developing and commercializing new technologies and businesses, he will be instrumental in Enevate’s success as we transition from R&D to mass production.”
“Enevate has developed a highly novel approach for silicon-based Li-ion batteries with a technology roadmap that scales,” said Mike Lazaridis. “Next-generation smartphones will demand this improvement to power new capabilities and satisfy user expectations.”
Mr. Lazaridis studied Electrical Engineering at the University of Waterloo and holds honorary doctoral degrees in Engineering from the University of Waterloo (where he formerly served as Chancellor), as well as a Doctor of Laws from McMaster University, University of Windsor, and Université Laval. He is a fellow of both Royal Societies of London and Canada, and has been named to both the Order of Ontario and Order of Canada. Amongst many other recognitions, Mr. Lazaridis has also won an Academy Award and Emmy Award for technical achievements in the movie and TV industries.
Enevate Corporation is an advanced rechargeable energy storage company focused on next generation mobile devices with global headquarters in Irvine, CA. Enevate’s batteries with its breakthrough HD-Energy Technology delivers significant performance improvement over conventional Li-ion batteries. Investors include Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, and CEC Capital. Enevate, the Enevate logo, and HD-Energy are registered trademarks of the Enevate Corporation.
About Infinite Potential Technologies
Infinite Potential Technologies LP selectively invests in and supports experienced operators and world-class researchers to build transformative businesses and products for global markets based on classical technologies. IP Technologies is part of the Quantum Valley Investments group of companies.
SOURCE: Enevate Corporation
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