Monday, October 11, 2010

Contour Energy In Technology Deal With MIT

Azusa-based Contour Energy, the developer of next-generation battery systems headed by Joe Fisher, said today that it has acquired carbon nanotube technology from the Massachusetts Institute of Technology (MIT). Contour said the technology can "dramatically improve" the power capabilities of lithium-ion batteries. Financial details of the licensing deal were not announced. Contour Energy--whose base technology was licensed from Caltech--said the technology from MIT produces a tenfold increase in the amount of power that can be delivered from lithium-ion batteries. MIT's technology is applied to the design of electrodes within lithium-ion batteries. Contour said it will apply the technology in its next generation of batteries. Contour is venture backed by CMEA Capital, Harris and Harris, Schlumberger and US Venture Partners.

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