NYC: CEEP breakfast
Dickstein Shapiro, LLC
1633 Broadway, between 50th & 51st Streets, 32nd floor
New York, New York 10019-6708
Changing your batteries in your flashlight isn't a big deal, but in your pacemaker? Or a neurological implant? There are a large and growing number of applications for long-lived, low-power batteries"”an estimated $2 billion worth in the US defense and medical industries. Widetronix, with support from the Department of the Navy and capital infusions from Draper Fisher Jurvetson and DFJ Gotham Ventures, is developing such batteries.
Widetronix's batteries are based on betavoltaics, which continuously produces very, very small electrical currents. (In the nA to uA range.) Similar to photovoltaics, these devices collect electrons and turn them into a current. However, betavoltaics get their electrons from decaying isotopes using a proprietary silicon carbide diode in a small semiconductor package. This technology is based on a patent licensed from Cornell and patents pending filed by the company. Widetronix has raised over $3M in grants and a $250K seed investment and intends to launch a $5M Series A financing in 1Q 2010 to fund product development, a manufacturing facility, and expansion of the management team.
Market entry is focused on customers in the Department of Defense seeking low-power long-life batteries for anti-tamper applications. Growth is focused on applications in the medical sector powering implants and telemedicine applications, anticipated for introduction in 3 to 5 years. Widetronix is currently developing a prototype battery to service this market in collaboration with a major medical implant company.
Jonathan Greene, a successful serial entrepreneur, will describe the company's technology and marketing strategy.
CEEP events include breakfast, networking and a technical review of the technology presented.