Blue Spark Technologies Announces Closing of $7.5 Million Series B Funding
Westlake, OH (PRWEB) December 15, 2010
Blue Spark Technologies, Inc., the leading producer of thin, flexible, printed power source solutions, has closed a $7.5 million Series B investment. Existing institutional venture investors Early Stage Partners and SunBridge Partners were joined by several private investors.
Gary R. Johnson, Blue Spark President and Chief Executive, said, “The Blue Spark team is delighted to have the support of new investors and the continuing confidence of early backers, who have provided additional resources to enable Blue Spark to continue to prosper. I’m pleased to report that applications enabled by printed batteries are developing rapidly as the early adopters of our battery technology transition from development to successful product introductions.”
John Gannon, General Partner of SunBridge said, “Since leading the Series A round in 2007 we have seen the company achieve important milestones in organizational and market development, including generating initial revenue in huge opportunities. We are very pleased to support Blue Spark in this round, which provides resources for its transition into high volumes and profitability.”
“Early Stage Partners,” according to Managing Director Jim Petras, “has focused on funding young Northeast Ohio companies through development into commercialization. Blue Spark has identified and developed outstanding market opportunities that can be served with its world class printed battery technology. Early Stage has supported Blue Spark since its founding. We are pleased with Blue Spark’s progress and with the contribution that high growth companies we have supported are contributing to economic revitalization in Northeast Ohio.”
Blue Spark will focus its resources on ramping manufacturing to support market successes in multiple projects and to the acceleration of new applications that require thin, printed, disposable batteries.
About Blue Spark Technologies
Blue Spark Technologies, Inc. is the leader in developing flexible, printed, “green,” proprietary power source solutions for battery-powered printed electronic systems. The company was founded as Thin Battery Technologies in 2002 with patented technology and technical leadership from Energizer (Eveready Battery Company). Blue Spark customers include manufacturers, product designers, and integrators across multiple industries including: interactive packaging, RFID, pharmaceutical, powered smart cards, and novelty items. Users of products powered by Blue Spark batteries enjoy increased efficiency, greater convenience and portability, improved safety, lower manufacturing and assembly costs, higher profit margins, and greater environmental responsibility. For more information, visit http://www.bluesparktechnologies.com or call +1 440 249 5400.
About SunBridge Partners
SunBridge Partners is a US-based venture capital firm pursuing a targeted, research-based approach to identifying and investing in private US technology companies pioneering innovations based on advanced technologies in computing, communications and manufacturing, including materials, semiconductors, components, equipment and software. SunBridge Partners’ capacity for strategic guidance based on deep domain expertise, proven track record of assisting portfolio companies, and global network of contacts and partners providing international market insight and revenue opportunities make it a preferred and effective investment partner to the most promising of startup companies. http://www.sunbridgepartners.com
About Early Stage Partners
Early Stage Partners is an early stage venture capital fund based in Cleveland, Ohio with an office in Ann Arbor, Michigan. It is the largest and most active early stage venture firm in Ohio, with $99 million under management in two funds. Early Stage Partners invests primarily in promising opportunities in the life sciences, cleantech, and information technology. Since inception, Early Stage Partners has invested in over 30 high potential companies in Ohio, Michigan, and elsewhere. The company’s principals have over 90 years combined experience in early stage company formation and development and significant operating experience. http://www.esplp.com.