Infinite Power Solutions, one of a small handful of companies working on advanced thin-film batteries for portable electronics, has brought in $20 million in a third round of venture funding. In doing so, it’s landed backing from former vice president Al Gore’s Generation Investment Management.
Based in Littleton, Colo., Infinite Power claims that its micro-energy cell (MEC) batteries — marketed under the THINERGY brand — are not only thinner and more flexible than other solid-state batteries on the market but are also more energy efficient and last longer before needing to be recharged. Storing about as much power as a typical lithium-ion cell, its batteries can be engineered into multiple shapes and sizes, for a much broader range of applications. This makes the technology ideal for storing power generated by solar, thermal, magnetic and vibrational sources.
To scale its market presence, the company will use its recent funding to grow its manufacturing capacity and to beef up its sales and research and development operations. One of its goals will be to scout for new applications for the batteries, including advanced sensors (becoming a big deal in the smart grid and water industries), and malleable medical devices.
Infinite Power is already supplying its products to the military — in fact, it just landed a deal with Lockheed Martin — as well as RFID tag makers and automotive companies. The company touts its products’ heat resistance as just one feature making them a good fit for biometric sensors implanted in people’s bodies, as well as self-destruct circuits for smart military munitions.
Infinite Power previously raised close to $15 million from In-Q-Tel, D.E. Shaw & Co., Polaris Venture Partners, Core Capital Partners and Applied Ventures. These existing backers joined Generation in the recent round of funding.