The Paper Battery Co., a startup developing a paper-thin ultracapacitor based on technology licensed from Rensselaer Polytechnic Institute (RPI), received a $1 million development award from the New York State Energy Research and Development Authority (NYSERDA), according to a news release issued jointly by the company and NYSERDA. The award is matched by private venture investment.
Paper Battery maintains its lab at our member the INVEST incubator at Russell Sage College in Troy, and is also a portfolio client of The Cleantech Center, the NYSERDA-sponsored clean-energy incubator at our supporting member The Tech Garden in Syracuse. The company, which currently employs four people, says it expects to hire up to 10 new employees by this time next year, with plans to start commercial manufacturing in 2013.
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