Chrysalix Announces Investment In Epyon B.V.

June 24, 2008 by Jeff Shepard

Chrysalix Energy Venture Capital, a global venture capital firm focused on early-stage clean energy technologies, together with their European affiliates SET Venture Partners (SET VP), announced their investment in Epyon B.V.

Epyon, a spin-off company of the Delft University of Technology, develops technology and IP in the field of ultra-fast charging of advanced lithium-ion batteries. It claims that its strength is its team’s knowledge of state-of-the-art energy-storage media and super capacitors in combination with their in-house capabilities to create intelligent computer-controlled power conversion systems.

Epyon supports three markets. The primary market is clean electrical vehicles (EV) for professional use, where ultra-fast charging is the solution to lower the total cost of ownership through increased efficiency. The second market is the in-car (on-board) plug-in charger solutions for EVs and plug-in hybrid electrical vehicles. Thirdly, the company has a white-label consumer product, called Flash Pack, for delivering back-up power for mobile devices like cell phones; PDAs; MP3 players, including iPods, and some digital photo cameras.

Michael Brown, Managing Director of Chrysalix said, "Epyon has crucial technology to enable hybrid and electrical vehicles to become more serious alternatives for fuel-based vehicles."

"In the last years the management has clearly proven its professionalism and dedication. The team has realized impressive innovations in the area of ultra-fast charging. There is huge potential for new applications of lithium-ion batteries, especially in the field of electrical vehicles," said Rene Savelsberg, Managing Director and CEO of SET VP. "Clearly the bottleneck has been the speed of battery re-charging and that is exactly what Epyon is good at."

Crijn Bouman, CEO of Epyon commented, "We are excited to have attracted SET VP and Chrysalix, both focused on clean energy investments in North America and Europe. This investment allows us to accelerate our technology and market developments and to tap into the knowledge and network of these particular investors."