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Recent News Releases


December 9, 2014

Seeo Closes Funding Round and Adds Samsung Ventures

Lithium Polymer Battery Maker Targets 400Wh/kg Product

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News Coverage

 

 Techcrunch

Samsung Ventures Leads $17M Round In Lithium-Polymer Battery Maker Seeo

"Seeo’s rechargeable lithium batteries are built using a proprietary non-flammable polymer electrolyte it calls “DryLyte,” which it claims is safer than traditional lithium-ion batteries. The company says that its batteries are smaller, but capable of maintaining the same performance regardless of outside conditions like temperature. Seeo is currently developing batteries for electric and hybrid vehicles; electric grids; telecom infrastructure like data centers; and consumer electronics."  Link

 Bloomberg Business Week  

Seeo Gets $17 Million Venture Round for Batteries Led by Samsung

"Seeo will use the funding from Samsung Ventures to continue to develop its lightweight lithium-polymer battery technology, the Hayward, California-based company said in an e-mailed statement today. Existing investors Khosla Venture and GSR Ventures also joined in the funding."  Link

 GigaOm  

Battery startup Seeo finds a backer in Samsung

"Korean electronics giant Samsung is one of the largest producers of batteries in the world, and the funding could not only help Seeo get closer to bringing its batteries to market, but the investment is also a vote of confidence in the early stage startup’s battery technology."  Link

Forbes

Samsung Leads $17M Investment In Battery Startup For More Efficient, Less Flammable Electric Vehicles

"Any advancements in battery technology is slow going. Between the time and money it takes to get the technology off the ground, startups in this area have a long road to tread...Today, it looks like battery startup Seeo is getting a bit more time with a $17 million Series E investment. Samsung Ventures took the lead in the investment. Existing investors Khosla Ventures and GSR Ventures also contributed to the round."  Link


Venture Beat

Samsung drives $17M investment round in Seeo to help build better batteries for electric cars

"Batteries offer perhaps the greatest opportunity for innovation in the technology realm. Whoever figures out a way to pack a bigger punch into a smaller space will undoubtedly make a lot of money, which perhaps explains why Seeo is seeing so much interest from investors...But what’s perhaps most interesting about this deal is who’s putting up the cash. The round is being led by Samsung’s investment arm, Samsung Ventures, though earlier investors Khosla Ventures and GSR Ventures are also participating."  Link

Green Car Congress 

Samsung Ventures invests in Li-poly battery company Seeo; targeting 400 Wh/kg product

"Seeo enables the production of safer batteries by replacing the flammable liquid electrolytes of conventional lithium-ion cells with Seeo’s DryLyte solid polymer electrolyte that is non-flammable and non-volatile. These enhanced safety characteristics, combine with high energy density. Currently, Seeo has cells cycling with an energy density of 350 Wh/kg, with a future target of 400 Wh/kg, roughly twice the level of batteries used in today’s EVs."  Link

Green Optimistic 

Seeo DryLyte Solid-State Lithium-Ion Battery Gets Funding From Samsung

"Seeo, based in Hayward, California, currently markets 1.6 kWh automotive-grade solid-state lithium-ion battery modules, but is working on something even bigger, or smaller, depending on how you look at it. The Seeo 26 kWh DryLyte Automotive Pack is currently rated at 130 Wh/kg, about the same as most other cylindrical and prismatic lithium-ion batteries. Currently, Seeo is testing a new 350 Wh/kg solid-state lithium-ion cell, and has its sights set on 400 Wh/kg. Samsung Ventures, Khosla Ventures, and GSR Ventures, have put in $17 million in funding to make it happen."  Link

Xconomy

With Funding from Samsung, Battery Startup Seeo Advances

"Material science typically moves slowly, so companies developing better batteries need investors able to stick around for more than just a few years. Seeo has found that some corporate investors are willing to bet on next-generation batteries."  Link

PE Hub

Samsung Ventures and Khosla fund Seeo

"Seeo, a leading developer of advanced lithium polymer batteries, today announced the closing of its largest funding round to date, and the addition of Samsung Ventures Investment Corporation (“Samsung Ventures”) as an investor. Earlier investors Khosla Ventures and GSR Ventures also participated in the round."  Link

VentureVentureWire

Seeo Adds Samsung Ventures as Investor in Latest Funding for Battery Company

"Seeo Inc ., a maker of lithium polymer batteries, said it has raised a new funding round that included new investor Samsung Ventures...Existing investors GSR Ventures and Khosla Ventures also participated in the funding round."  Link
 
Bloomberg Business Week

Startup Seeo Moves Toward a Safer Lithium-Ion Battery

"So what makes Seeo’s batteries safer? It largely involves improvements to the electrolyte, or the medium that shuttles lithium ions back and forth between the cathode and the anode to charge and discharge the battery. Traditional lithium-ion battery electrolytes are mostly made of liquids, while Seeo is using a solid, dry polymer-based electrolyte that feels like plastic to the touch."  Link

GigaOm

The Energy Innovations of the Future Need Today's Machines

"Battery startup Seeo is using standard machines used to make traditional lithium ion batteries to make its batteries, including its secret sauce: its unique electrolyte. The company employs basic mixers, coaters, and assembly and testing machines at its pilot line factory in Hayward, Calif. and is also using battery cell, module and pack materials that are commonly used to make lithium ion batteries."  Link

 

GigaOm

A Safer Next-Gen Battery is Used with Solar Panels for the First Time

"Traditional lithium-ion battery electrolytes are mostly made of liquids, while Seeo is using a solid dry polymer based electrolyte, which feels like plastic to the touch...The polymer is non-flammable and when combined with using lithium foil as the anode, the battery can be ultra light weight and also have a high energy density, or amount of energy that can be stored per a given weight."  Link

 



Awards


2012 GoingGreen Global 200 Top Private Companies

Seeo has been selected as one of the 2012 GoingGreen Global 200 Top Private Companies.

2011 Global Cleantech 100

Named to 2011 Global Cleantech 100 Company list.

Tie50 Awards

2011 Winner of TiE Global's award recognizing top Energy Technology Startups

Technology Review

Dr. Hany Eitouni was selected by Technology Review magazine as one of the top young innovators of 2010. Selected from more than 300 nominees by a panel of expert judges and the editorial staff of Technology Review, the TR35 is an elite group of accomplished young innovators who exemplify the spirit of innovation in the fields of medicine, computing, communication, energy and nanotechnology.

Going Green

2009 Going Green Award Winner for Energy Storage Systems selected by AlwaysOn.

R & D Magazine

Seeo and Lawrence Berkeley National Laboratory were jointly awarded the R&D 100 Award by R&D Magazine in 2008 for nanostructured polymer electrolytes in rechargeable lithium batteries.

Grants


Department of Energy

Seeo was awarded $6.2M from the Department of Energy as part of the Smart Grid and Energy Storage demonstration program. This 4-year project supports development and deployment of a battery pack using Seeo’s proprietary nanostructured polymer electrolyte. The battery pack is targeted for utility-scale storage operations with an initial focus on Community Energy Storage applications.


Seeo was selected for a $4.9M award from the Department of Energy’s Vehicle Technologies program. The project supports development of high-energy solid state cells suited for electric drive vehicle applications. Independent performance, reliability and safety testing are being conducted in accordance with automotive industry standards for lithium-ion batteries.


With support from the Department of Energy’s SunShot Initiative, Seeo has partnered with SunEdison to develop an Energy Storage System (ESS) that pairs Seeo's battery pack with control analytics designed to optimize performance of a joint solar and energy storage installation.  The program combines a field demonstration with an evaluation of financing structures that can be deployed to accelerate the adoption of distributed PV with advanced energy storage.

Califomia Energy Commission

Seeo received a grant from the California Energy Commission in support of the Department of Energy Smart Grid and Energy Storage Demonstration program. The Energy Commission grant provides cost share funding to Seeo.