Orlando, Fla. (January 18, 2019) – Capacitech Energy’s new method of storing energy in the form of a wire is being noticed around the world as a key to reducing the cost, and increasing the capacity of, energy storage.
Last month, the company was named a finalist in a global contest for energy storage companies – only one of three companies in the Unites States to be named. Just 32 companies made the cut out of the more than 200 that applied.
Capacitech is the only company from Florida to be included as a finalist.
If the company is one of the 15 selected, it will gain access to a network of more than 400 partners, including specialist business angels, 14 major European Cleantech VCs from the InnoEnergy VC community, and main energy corporations. Start-ups also gain board-level advice and mentorship and admission to European energy events.
The top company is awarded €100,000.
“As the world looks to provide more efficient energy solutions, this is one of the top programs to develop new technologies,” says Joe Sleppy, CEO, Capacitech Energy. “We’ve always believed in the technology and now we will be able to showcase it to the world.”
InnoEnergy, with its headquarters in The Netherlands and offices in 9 European countries, works with the European Battery Alliance (EBA) to attract and support start-ups with innovative technology or business model concepts focused on electric storage.
Launched in 2017, the EBA seeks to create a competitive and sustainable battery cell manufacturing value chain in Europe, by working with more than 120 European and non-European stakeholders.
“Europe needs innovative electric storage solutions to support the decarbonisation of transport and heat through electrification,” says Bo Normark, InnoEnergy’s thematic leader for energy storage. “It is our mission to find businesses with unique and innovative concepts, products and solutions that have the potential to be part of the sustainable battery cell manufacturing value chain.”
The technology for building capacitors in a cable form factor was developed the University of Central Florida in 2014. Capacitech, which was formed to further develop the cable-capacitor and take it to market, holds an exclusive license from UCF to the technology.
Capacitech’s cable-based energy storage innovation has endless opportunities.
For instance, it can easily be customized by cutting the wire at different lengths, reducing inventory costs and lead times for distributors. The product is thin and flexible, enabling it to replace capacitors on circuit boards, reducing the board’s size. It can be embedded inside power cords to provide backup power to different systems or complement batteries.
For example, connecting the cable-based capacitor between different stages of a solar power system can significantly extend the operating life of batteries reducing the cost of ownership. The primary IT industry application is complementing batteries in uninterruptible power supply systems.
“Europe is leading the way on innovation in the clean-energy field,” Sleppy says. “Just by participating in the program, we are extremely optimistic on the future of the technology we have developed here in Orlando.”