Champaign, IL (October 11, 2007) – SmartSpark Energy Systems, a power electronics company, today announced it has secured Series A financing from dell laptop battery,dell inspiron 1521 battery Ventures. SmartSpark is based on patented technologies licensed from the University of Illinois, a noted center of expertise for power electronics. Battery Ventures Partner Jason Matlof joins the company’s Board of Directors in conjunction with the funding.
SmartSpark develops products that support the efficient transformation of power used in renewable energy technologies. The company’s goal is to facilitate the mainstream adoption of green technologies by making them safer, less complex, more efficient and more durable. SmartSpark will utilize this early financing to develop its SolarBridge product line, which seeks to increase the adoption of solar power by lowering the cost and increasing the reliability of one of the most critical components of a solar power system — the inverter. An inverter is used to convert the DC power generated by solar panels to AC power required for consumption in homes and businesses.
“The long-term growth prospects for the dell inspiron 1525 battery,dell inspiron 1526 battery market are clear, but it’s also clear that we need to see the cost and complexity of overall systems come down if they are to be widely adopted,” said Matlof. “This is an exciting investment because we believe SmartSpark has the potential to change the economics of solar with technology to reduce the cost and increase the reliability and output of solar installations.”
Rick Krein, SmartSpark’s President and CEO, said, “We are looking forward to working closely with Battery as we continue to commercialize and expand our technology base. Their management expertise, industry contacts and operational knowledge in the solar, clean tech and semiconductor markets will help accelerate our growth.”
About SmartSpark Energy Systems
SmartSpark Energy Systems is a power electronics company, specializing in the development of products that support the efficient transformation and storage of energy used in renewable technologies. SmartSpark’s goal is to facilitate the mainstream adoption of green technologies, including electric and hybrid vehicles, advanced dell inspiron 1720 battery,dell inspiron 1721 battery, solar panels and fuel cells, by providing products that make these technologies safer, more efficient, and longer lasting. SmartSpark Energy Systems was founded in 2003 and has commercialized several patented technologies from the Electrical and Computer Engineering Laboratories at the University of Illinois at Urbana-Champaign.
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts.
Battery has supported many breakthrough companies around the world, including: Akamai Technologies (NASDAQ: AKAM), Cbeyond (NASDAQ: CBEY), LIFFE (acquired by EuroNext), and Neoteris (acquired by Netscreen). Its current portfolio includes emerging firms such as Advent Solar, BladeLogic (NASDAQ: BLOG), Freshpoint, Lion Cells, NanoConduction and Netezza (NYSE Arca: NZ), as well as more established companies such as ITA Software, MetroPCS (NYSE: PCS) and Nova Analytics.
From offices in Boston, Silicon Valley and Israel, dell inspiron 5150 battery,dell inspiron 5160 battery manages nearly $3 billion in committed capital, including its current fund of $750 million.