SAN MATEO, Calif.–(BUSINESS WIRE)–1955 Capital, a Silicon Valley-based venture capital firm, today announced that one of its portfolio companies, Gridtential Energy, the inventor and developer of Silicon Joule™ bipolar battery technology, has achieved key milestones towards commercialization through partnerships with two of the largest global battery manufacturers, Hoppecke Battery GmbH and Crown Battery.

Gridtential’s technology seeks to combine the best of lead and lithium-ion performance in batteries with a product offering that we believe is cost-effective and scalable

1955 Capital Founder and Managing Partner Andrew Chung serves on Gridtential’s Board of Directors, and Dr. Ryan Gilliam, Venture Partner at 1955 Capital, serves on its Advisory Board.

Using technology similar to a solar cell, Gridtential Energy’s breakthrough technology allows batteries to potentially deliver up to 5X the power density with up to a 40% weight reduction – and can be manufactured in current lead battery plants.

Silicon Joule™ bipolar technology has created an innovative class of lead batteries with silicon at its core. It is a design driven, low cost, high performance, patented energy storage solution that provides improved power density, cycle life, dynamic charge acceptance and temperature range, with up to 40% lower weight, while retaining full lead-battery recyclability. This is all accomplished while leveraging existing technologies from mature industry supply chains – allowing rapid adoption of existing lead-battery infrastructure.

Manufacturing partners can easily adapt their factories to provide high performing, higher voltage 24V & 48V batteries to their customers for the hybrid-automotive, energy storage & traction markets – all without giga-scale capital investments.

Compared to standard lead batteries, Silicon Joule™ bipolar battery technology targets removal up to 40% of lead and associated weight through elimination of lead grid and strap material; an increase in cycle life by 3X to 5X; an improvement in DCA (Dynamic Charge Acceptance) by 3X to 10X; an extension of the operating temperature by +10°C; and a reduction in the cost of ownership over the life of the battery by up to 80%, depending on application.

“Gridtential’s technology seeks to combine the best of lead and lithium-ion performance in batteries with a product offering that we believe is cost-effective and scalable,” said Andrew Chung, 1955 Capital founder and Gridtential board member. “It is critical for battery technology companies to work with manufacturing partners earlier to understand end-customer requirements and how best to achieve scale commercialization. Gridtential’s ability to leverage existing manufacturing infrastructure has enabled them to attract multiple global partners.”

Gridtential Energy entered into a technology evaluation agreement last week with Hoppecke Battery GmbH, the largest producer of industry battery systems in European ownership. Under the agreement, over the next few months, Hoppecke Battery and Gridtential Energy will collaborate on assembly and testing of Silicon Joule™ bipolar reference batteries using metrics for cycle life, energy density, battery efficiency, charging rates and manufacturability.

This news comes shortly after another partnership success in October, when Gridtential and Crown Battery, a leading global manufacturer of 99% recyclable batteries came together at the Crown Battery manufacturing facility in Fremont, OH to complete the largest production run of Silicon Joule™ bipolar batteries to date, significantly exceeding yield and throughput targets established for the current design.

Manufacturability validation was a key objective for the event and with the benefit of pre-manufactured materials, including treated silicon wafers, the rate of manual production reached less than 5 minutes per unit. Batteries produced during this event were filled, formed and shipped to investment partners and customers with evaluation agreements spanning four continents and includes two US automotive OEMs.

“We feel fortunate to work with like-minded battery manufacturers and equipment suppliers to produce products that open up new markets and extend the dominance of lead batteries in the energy storage arena by harnessing more of lead’s performance potential,” said Gridtential Energy CEO, John Barton. “First movers in the market for high-performance, low-cost energy storage, enabled by our Silicon Joule silicon-lead technology, will be rewarded with a significant commercial advantage. We are excited by the prospects for partners like Hoppecke Battery and Crown Battery to be very successful in that endeavor.”

Industries from automotive to grid energy storage are searching for lower-cost, sustainable power solutions to meet diverse energy needs. With successful commercialization of Gridtential’s Silicon Joule™ bipolar battery technology that combines the benefits of lead batteries with high-performance characteristics enabled by silicon, partners like Crown Battery and Hoppecke Battery will be prepared to meet the global challenge.

“With any new technology, the second breakthrough is the day it’s produced on a larger scale,” says Hal Hawk, President and CEO of Crown Battery Manufacturing.

“In keeping with our future vision, to meet the challenge of change, we must pursue forward-looking research and development projects,” said Dr. Marc Zoellner, CEO, Hoppecke Battery.

About 1955 Capital

1955 Capital was founded by Andrew Chung to invest in companies that can address the developing world’s most pressing challenges related to energy, healthcare, food, agriculture, education and sustainable manufacturing. With over a decade of experience investing in these sectors at leading global firms like Khosla Ventures and Lightspeed Ventures, Chung has experience in identifying technologies with significant impact potential in developing countries, and supporting entrepreneurs in developing mutually productive partnerships. The firm is based in San Mateo, California. More information is available at www.1955.capital.

About Gridtential Energy

Gridtential’s cutting-edge Silicon Joule™ battery architecture combines the traditional benefits of lead batteries – low cost, recyclability, and safety – with the performance and life cycle usually associated with lithium batteries. Gridtential is focused on applications ranging from hybrid automotive to grid storage, back-up power for cloud computing, material handling equipment and many others. Collaborating with a 600GWh-scale global manufacturing base and a near-100% recycling infrastructure, Gridtential and its licensing partners are planning beta and then commercial production of the Silicon Joule enabled batteries across the next two years. To learn more, visit: http://www.gridtential.com/.

About Hoppecke Battery

Hoppecke is a leading manufacturer and specialist of industrial battery systems, as well as being the largest battery manufacturer in European ownership. Hoppecke specializes in such sectors as solar energy, reserve power for IT/telecoms, power stations, motive power, uninterrupted power supplies, and special power for rail and underground. The parent firm was founded in Germany in 1927 as a family run enterprise, which carried the motto ‘Power from Innovation’ which the business ran its ethos. Hoppecke is continually expanding due to the organization’s strong focus on customer service, commitment to providing great quality, giving the end-user solutions to fit their needs through constant innovation, and a deep sense of responsibility for the environment. To learn more, visit: http://www.hoppecke.com/.

About Crown Battery

Founded in 1926, Crown Battery’s deep-cycle batteries are revolutionized by computer-augmented R&D and robotic manufacturing – and trusted for over 90+ years to power businesses, industrial and residential vehicles, off-grid homes and villages, and more than 100 other applications on six continents. Every Crown battery is designed, engineered, and manufactured at the company’s ISO 9001:2015- certified headquarters in Fremont, OH, USA. Robotic welding offers 400X the precision of manual welding; the industry’s heaviest plates provide for more chemical reactions and life; and a 250+ point inspection ensures maximum lifespan, durability, and performance. To learn more, visit: https://www.crownbattery.com.

Contacts

1955 Capital
Wendy Tanaka
+1 424.255.0482 mobile
wtanaka@sitrick.com

Gridtential Energy
Doug Wilson
+1 636.634.1471
doug.wilson@gridtential.com

Hoppecke Battery
Dr. Bernhard Riegel
+49 2963 61 778
Bernhard.riegel@hoppecke.com

Crown Battery
Tony Zarembski
+1 734.926.5105
anthonyzarembski@gmail.com

SAN MATEO, Calif., Nov. 22, 2019 /PRNewswire/ — 1955 Capital is pleased to announce that Kathy Chen has been promoted to Vice President and will report to Andrew Chung, founder and managing partner of the venture capital firm. 

Chen began working at 1955 Capital in 2016 and has been a key contributor in pursuing new business opportunities and supporting portfolio company entrepreneurs.  She focuses on investments in transformative technologies in healthcare and sustainability.

Prior to 1955 Capital, Chen spent three years at Asia-based cross-border growth equity firm Unitas Capital, which managed over US$4 billion in assets across Asia, North America, and Europe. Chen started her career in investment banking at Bank of America Merrill Lynch and J.P. Morgan, executing a variety of M&A, debt & equity transactions in the U.S. and China.

“Kathy has been a critical member of our team and done a tremendous job identifying and assessing new investment opportunities,” said Andrew Chung. “Her global perspective and passion for our mission makes her a valuable asset to prospective and existing portfolio companies. We are thrilled to congratulate her on this milestone and look forward to her continued success in this new role.”

Chen obtained her B.S. in Economics and MBA from the Wharton School, where she helped lead the sustainable technology investing effort for Wharton Impact Investing Partners and served on the Wharton Student Sustainability Advisory Board. Chen was also a Packard Environmental Fellow and supported environmental research and advisory efforts at California Environmental Associates.

About 1955 Capital
1955 Capital was founded by Andrew Chung to invest in companies that can address the developing world’s most pressing challenges related to energy, healthcare, food, agriculture, education and sustainable manufacturing.  With over a decade of experience investing in these sectors at leading global firms like Khosla Ventures and Lightspeed Ventures, Chung has experience in identifying technologies with significant impact potential in developing countries, and supporting entrepreneurs in developing mutually productive partnerships.  The firm is based in San Mateo, California.  More information is available at www.1955.capital.

SOURCE 1955 Capital

Read full press release.

SAN MATEO, Calif., Nov. 22, 2019 /PRNewswire/ — Jim Hinson joins 1955 Capital as Chief Financial Officer and will report to Andrew Chung, founder and managing partner of the venture capital firm. In his role, Hinson will oversee the financial planning, financial reporting, and operational controls of the firm.

Jim Hinson is currently the Venture Capital Practice Lead at Greenough Consulting Group (GCG), and a consulting CFO for several firms, including 1955 Capital. Hinson serves as an executive committee member of GCG, which has served over 600 technology companies and 200 venture capital and alternative investment funds over two decades.  Hinson adds 35 years of business experience, including 24 years in private equity.  During that time, Hinson formed four new funds as the administrative partner/CFO, including the spin-out of Tenaya Capital from the Lehman Brothers bankruptcy.

Andrew Chung stated: “Jim is an accomplished financial executive who has made an immediate impact on our organization.  He brings the assurance that we are fostering a strong foundation for the financial controls in our organization, and his business acumen in private equity finance aligns well with our growth objectives.  We are thrilled to add Jim to our team.”

Prior to GCG, Hinson was the COO of Rogers Venture Partners, where he oversaw the fund’s finance, accounting, legal, and risk management functions.  Before that, he led the financing and accounting teams at Tenaya Capital, Lehman Brothers, and APV Technology Partners.  In addition, Hinson served on the board of eight portfolio companies.

Hinson earned his A.B. in Economics from Stanford University and MBA from the UCLA Anderson School of Business.

About 1955 Capital

1955 Capital was founded by Andrew Chung to invest in companies that can address the developing world’s most pressing challenges related to energy, healthcare, food, agriculture, education and sustainable manufacturing.  With over a decade of experience investing in these sectors at leading global firms like Khosla Ventures and Lightspeed Ventures, Chung has experience in identifying technologies with significant impact potential in developing countries, and supporting entrepreneurs in developing mutually productive partnerships.  The firm is based in San Mateo, California.  More information is available at www.1955.capital.

SOURCE 1955 Capital

Read full press release.

Last year, I went to a dinner where Madeleine Albright was the guest of honor, and she said some things that really resonated with me: The U.S. and China are more codependent on each other than any two countries have ever been in history. There’s no escaping the fact that we need each other. More importantly, we need to find the right way to work together.

That’s why the launch of 1955 Capital is so important to me. It’s a new venture firm I founded focused on funding technologies in developed countries that can be rapidly commercialized and scaled to solve pressing challenges in the developing world — starting with China.

We’re talking about taking on big, bold challenges like air pollution, renewable energy, food security and safety, health care delivery, accessible education, and sustainable manufacturing. I’ve watched as fewer and fewer firms pursue these sectors in recent years due to risk and fear of failure.

There’s also a serious lack of investors who understand the Chinese market and who know how to do business there. I heard recently that only 10% of U.S. venture capital general partners are Asian. Fewer speak Chinese. And even fewer want to explore outside the Silicon Valley comfort zone to build partnerships there. No wonder most U.S. investors advise entrepreneurs with global ambitions to start with the U.S. market first, even if they could grow faster, earlier outside of the U.S. Many investors actively advise against growing in China because of the fear of the unknown and the language and cultural barriers.

The good news is there’s appetite to do something different. Something revolutionary. 1955 Capital has raised $200 million in a first close on anchor commitments — we believe that is a strong signal that others recognize the gap in the market and want to see it bridged.

Read the full story here.

Jonathan Shieber

On the heels of last year’s Paris climate change talks and multiple geopolitical and environmental crises there’s a flood of new cash coming in to finance sustainable technologies and development in 2016.

Longtime investor Andrew Chung felt it in 2015 when he decided to part ways from Khosla Ventures (with that firm’s blessing) and launch his new fund 1955 Capital.

The firm, which has announced its first close with a sizable $200 million commitment, focuses on investments in energy, food, agriculture, health, education, and sustainable manufacturing.

In all, investors focused on renewable energy and sustainability technologies have received commitments of $830 million in the first two months of 2016.

Read the full article here.

By Louisa Burwood-Taylor

A former partner of the venture capital giant Khosla Ventures, Andrew Chung, today launched his own venture firm, 1955 Capital. The fund, which has raised $200 million at first close, will invest in startups in the energy, food and agriculture, education and health sectors.

The name of the firm is taken from the year that Albert Einstein, penicillin discoverer Alexander Fleming, and jazz legend Charlie Parker died, and the year Bill Gates, Steve Jobs, Vinod Khosla, and Google’s Eric Schmidt were born.

The fund’s mission is to invest in the US and European technologies that can be exported to developing countries — primarily China — to solve world challenges across the energy, environment, food, agriculture, health, and education sectors.

“In a lot of ways, this is a very natural extension to the five years I spent as a partner at Khosla. I was helping a lot of different entrepreneurs think through their global strategy, and went to China 13 times last year, which is probably more than any other investors in Silicon Valley,” Chung told AgFunderNews.

Read the entire interview here.