Consumer device makers have squeezed about all the capacity they’re going to get out of lithium ion technology. Problem is, the next generation in device battery tech remains in the nascent stages of development. So while poor battery life remains a key pain point in using today’s phones and tablets, new and promising battery technology deserves attention.

Ultracapacitors are nothing new but are perhaps the front runner in the race for a better device battery. Unlike lithium ion batteries, which release power as a result of a chemical reaction within the cell, ultracpacitors store energy in an electric field. Ultracapacitors are smaller than lithium ion batteries and can deliver larger bursts of energy but have traditionally delivered far less power per charge.

Troy, New York-based Paper Battery Company says it has its own patented and proprietary spin on the ultracapacitor. The company makes a thin, flexible ultracapacitor sheet that can be used as a battery or can be wrapped around lithium ion batteries to increase battery life.

“Paper Battery’s ultracapacitors can dramatically increase the battery life, thermal efficiency, and signal effectiveness of electronics devices such as smartphones, tablets, wearables, remote servers, and Internet-of-things products while also reducing the bill of materials cost,” the company says. The technology is now being evaluated by a “potential large company in consumer electronics,” according to the company.

West Palm Beach, Florida-based Caerus Ventures, at least, believes in Paper Battery’s capacitor recipe. The firm, along with Tylt Labs and energy and materials venture capitalist Tom Baruch, have put a $3 million bet on the technology.

Paper Battery says it will use the new money to scale up manufacturing and to move toward taking in its first sales revenues next year.

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