Cottonwood Technology Fund announces investment in mPower Technology
First Investment Warehouses for Fund III
Cottonwood Technology Fund, a consistent top-performing investor in high-tech and hardware startups based in Northwest Europe and Southwest USA, announced today an investment in American company mPower Technology. It is the first investment warehoused for Cottonwood Technology Fund III. mPower Technology has developed DragonSCALES™ (SemiConductor Active Layer Embedded Solar) solar cell technology. DragonSCALES enable disruptive, new approaches to many solar applications by leveraging small advanced silicon cells integrated on a flexible substrate in a patented, highly interconnected architecture. They offer unprecedented improvements in system cost, weight, flexibility, resilience, and ease of installation and system integration.
“We are experiencing tremendous interest in our DragonSCALES technology, not only for the rapidly growing aerospace market, but also for the terrestrial and IoT (Internet of Things) markets,” said Kevin Hell, president and CEO of mPower Technology. With the investment from Cottonwood Technology Fund, NMA Ventures and some angel investors mPower Technology has closed an additional $1.85 million in Series A funding, bringing the company’s total Series A round to $4.35 million. “This supplemental capital investment will provide runway for mPower to ready its innovative technology for large-scale production and rapidly secure large commercial contracts in the space market.”
“Cottonwood looks for ‘off-the-curve’ innovations in hard science that we believe can introduce disruptive impacts to applicable markets,” said David Blivin, Founder and Managing Partner of Cottonwood Technology Fund. “mPower’s technology is uniquely positioned to transform the space power market through its significant cost and performance advantages, and this certainly fits with our focus.”
About mPower Technology
mPower Technology is shaping the future of solar power with a revolutionary new technology called DragonSCALES™ (SemiConductor Active Layer Embedded Solar), a completely flexible, interconnected mesh of miniature solar cells. Leveraging well-established and affordable materials, processes, and tools from the silicon photovoltaic (PV) and microelectronics industries, DragonSCALES enable completely new design options for solar power, removing the constraints of existing silicon and gallium arsenide solar solutions, and enabling highly flexible, resilient, light-weight designs that can be rapidly deployed at extremely low cost.
For further information, please contact info@mpowertech.com or visit www.mpowertech.com.
About Cottonwood Technology Fund
Cottonwood Technology Fund is, according to Preqin’s latest reporting, one of the most consistent top-performing venture capital funds in the world. Cottonwood Technology Fund has offices in Santa Fe NM, USA and Enschede, the Netherlands. It invests in patent-based, technology-related companies (e.g. robotics, optics, photonics, nanotechnology, sensor tech, cleantech, medtech and advanced materials) originating from the Southwest region of the USA and Northwest Europe. These regions include numerous national laboratories, over a dozen major research universities and several major research centers. Current investments include Skorpios, TriLumina, BayoTech, OPNT, Sarcos Robotics, Eurekite, SoundEnergy, BennuBio, Clear Flight Solutions, xF Technologies (formerly Incitor), Respira Therapeutics, Armonica Technologies, Raptor Products and Infinitum Electric. For further information, please contact info@cottonwood.vc or visit www.cottonwood.vc.
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For more information, please contact:
Dave Blivin, Managing Partner, +1 505 412 8537 / dave@cottonwood.vc
Alain le Loux, General Partner, +31 6 29 52 63 81 / alain@cottonwood.vc
