Power Paper Raises $30 Million in Venture CapitalNovember 10, 2005 by Jeff Shepard
Power Paper Ltd. (Tel Aviv, Israel), a provider of thin and flexible micro-power source technology and devices, reported that it has nearly doubled the financial backing from venture capital groups by raising a further $30 million. The extra funds will be used for further development of, and finding new applications for, the company's paper-thin battery. The round was led by Apax Partners, which invested $16 million, and Clal Industries and Investments and the Infinity Venture Capital Fund, which together invested $12 million. Previous investor, Banc America Capital Partners, also participated in the round, investing $2 million.
Power Paper’s batteries do not require metal casing and can be printed directly onto paper, plastic, or other substrates, using standard printing equipment. The battery technology allows product manufacturers to design a power source that suits a specific product, rather than match the product to the form factor of the power source. The power source is already integrated into the company’s PowerID RFID labels. The Power Paper cells are composed of zinc and manganese-dioxide. The cathode and anode are produced as different mixes of ink, so that the combination of the two creates a battery that is thin and flexible. Unlike conventional batteries, the power source does not require casing. The company also offers complementary flexible polymer displays, integrated circuits, and packaging technologies.