Seeo, a developer of lithium polymer batteries, has closed its largest funding round to date, adding Samsung Ventures to its list of investors. The company will use the new capital to accelerate the commercialization of its high-energy-density batteries.
Seeo’s patented DryLyte solid polymer electrolyte is non-flammable and non-volatile, and delivers high energy density. Currently, Seeo has cells cycling with an energy density of 350 Wh/kg, and has set a future target of 400 Wh/kg.
Among Seeo’s current products are DryLyte Automotive Packs, which are built on the DryLyte 1.6 kWh module. The DryLyte Automotive Pack can be configured to meet a variety of requirements, is scalable in voltage and capacity, and achieves energy density of 130 Wh/kg.
“We appreciate the confidence Samsung Ventures has expressed in our technology and team with this investment,” said Seeo CEO Hal Zarem. “Samsung Ventures is a sophisticated investor with deep experience and a track record of success in the space. Their engagement with Seeo will strengthen our ability to deliver the next generation of advanced batteries to a market eager for breakthrough capabilities.”
Source: Seeo via Green Car Congress