Founded in 2007, Leyden Energy is a maker of lithium-ion batteries for the consumer electronics industry.
But unlike other batteries of its kind, the Leyden battery is manufactured with a revolutionary engineering that could change what has until now been little more than a static industry.
You see, Leyden Energy batteries use a different kind of electrolyte material made from lithium salt. This material allows batteries to withstand higher temperatures, run longer, and degrade slower.
Average batteries have a capacity of around 350 to 400 charges. But Leyden batteries made with this material can be recharged over 800 times, reports CNET News.
Leyden Energy has just completed a second round of funding, led by New Enterprise Associations, which brought in an additional $20 million to the company.
Investors Lightspeed Ventures, Sigma Partners, and Walden capital were also involved in bringing in the funding.
As CEO Aakar Patel told VentureBeat, Leyden does not actually manufacture the products on its own. Rather, it has partnered with two manufacturing companies for production purposes to avoid revenue loss.
The money raised, therefore, will go to a partnership with a third manufacturing company, as well as to new engineers to further innovate the products.
One of Leyden Energy’s first customers is Dr. Battery, a Canadian online retailer that has begun selling Leyden battery replacements for certain laptop brands to consumers.
Patel has expressed that in the near future Leyden could be able to announce deals with tablet companies as well.
Though Leyden deals mainly in the consumer electronics battery market, it is working on electric vehicle batteries as well.
Recently Leyden has received grants worth an estimated $3 million from the California Energy Commission to propel the engineering and production of electric vehicle batteries, reports AllThingsD.
If better electronics batteries don’t do it, a longer lasting electric vehicle battery could be the breakthrough product for this small company.
That’s all for now,