Wednesday, December 16, 2009

PowerGenix In Canadian Distribution Deal

San Diego-based PowerGenix, a venture-backed developer of Nickel-Zinc (NiZn) rechargeable batteries, announced Wednesday afternoon that the firm has signed a deal with technology distributor Ingram Micro, to distribute the firm's products in Canada. PowerGenix said that Ingram Micro will stock its AA rechargeable batteries in Canada, starting in January, for distribution to major retail chains and online outlets. PowerGenix said its new rechargeables provide the power equivalent to disposable alkaline batteries, a significant advantage over conventional AA rechargeables. The battery firm is backed by more than $60M in funding from Bessemer Venture Partners, Advent International, Angeleno Group, Braemar Energy Ventures, Granite Ventures, OnPoint Technologies and Technology Partners.