 |
|
Element Energy Raises New Capital and Expands Leadership Team Capital To Be Used for Continued Development of the Breakthrough Element Battery Management System Los Altos, CA - June 21, 2010 -- Element Energy, Inc., a leading developer of advanced multi-cell battery management systems, today announced the completion of an initial round of financing. This capital will be used to continue development of the Element Energy battery management system, which delivers significant battery pack lifetime extension, cost reduction, and improved safety and reliability compared to current solutions. In addition, Element Energy announced that it has named Jim Jones as Chairman of the Board. Jones is currently a Venture Partner with Scale Venture Partners, and formerly a vice president of product marketing and business development with 3Com Corporation and director of product marketing with National Semiconductor. Jones brings over 20 years of product development, marketing, and investment experience to Element Energy. “We are very pleased to add Jim to the Element team,” said Dan Lankford, CEO of Element Energy. “Jimʼs extensive investment and industry experience is the ideal complement to our growing team, and we expect him to be a major contributor to realizing the enormous potential of Element Energy.” "It is rare to find the opportunity to work in such a large, promising market with clearly breakthrough technology," said Jones. "I have been extremely impressed with the strength of the team and traction at Element Energy, and I look forward to helping the company grow." About Element Energy Element Energy Inc. is a Silicon Valley company founded in 2009 to develop leading-edge battery management systems. The Element Energy BMS is a cost effective hardware/software system that manages large, multi-cell battery packs. Elementʼs initial focus is on lithium-ion battery packs used in a wide range of applications including hybrid and electric vehicles, alternative energy storage and grid-tied storage. Compared to conventional battery management systems, the Element solution provides substantial lifetime extension; significant cost reduction; and improved safety and reliability through better monitoring, fault detection, and control of each cell. For more information, visit www.elementenergy.com. Contact: Dan Lankford dan@elementenergy.com |