Michigan Technology News, the online source for Michigan's technology business

Wednesday, February 17, 2010 BlueWater Angels Invest $250,000 In New Battery Technology
MIDLAND - The BlueWater Angels Tuesday announced its first investment for 2010 - $250,000 in an award winning green tech startup called Advanced Battery Concepts. Advanced Battery is a tenant at the MidMichigan Innovation Center in Midland and has developed technology called Green Seal that it says will revolutionize the lead-acid battery industry. There will be a ceremonial check signing for the investment at 5:15 p.m. Wednesday prior to the Pitch Night meeting in Midland hosted by BlueWater Angels. “This investment enables ABC to move to the next level in commercializing this technology with the goal of creating value for the investors and jobs for the Great Lakes Bay region,” said ABC CEO Ed Shaffer. Added BlueWater Angels president Ken Kousky: “This investment in Advanced Battery Concepts is a great way to kick off the New Year and the Pitch Nights series. We look forward to a year full of events that are designed to help connect investors with high potential opportunities.” In September, Advanced Battery Concepts was one of three companies to share in a $137,500 investment made by the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan's SmartZones. In June, the company won three prizes from the Great Lakes Entrepreneur’s Quest business-plan competition: $5000 as top contender in the New Business Category $10,000 from NextEnergy for its Alternative Energy Innovation Award $12,500 from Automation Alley for its Advanced Manufacturing Innovation Award For more information, click on AdvancedBatteryConcepts.Com
Author: Staff Writer Source: MITechNews.Com
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