CFX Battery Secures Additional $14.2 Million Funding

This second round of financing includes investors CMEA Capital, Harris & Harris, Schlumberger and US Venture Partners bringing CFX Battery’s total funding to $29.4 million.

With this latest round of funding, CFX Battery is doubling manufacturing capacity at its headquarters in Azusa, Calif. The company’s expansion plans will also support additional research and development resources to accelerate the commercialization of a wide range of battery system form factors for government and defense, industrial, medical, electric vehicles and consumer applications.

"Given today’s highly mobile, global society, the demand for ever-increasing improvements in portable power solutions continues to grow across a wide range of vertical markets," said Joe Fisher, CEO of CFX Battery.

"Receiving Series B funding in this extremely tough economic climate validates the strategic advancements we’re making in battery chemistries, nano-materials science and manufacturing processes. We are fortunate to have the collective brain trust of this distinguished group of investors that recognize the breakthroughs of our portfolio of primary and rechargeable battery technologies."

CFX Battery is an innovative portable power company commercializing customizable battery technologies for a wide range of cross-industry applications. CFX’s next-generation battery systems are designed to deliver unprecedented improvements in energy and power density, and are capable of performing in extreme operating conditions at significantly improved costs.

Founded through the collaboration of CalTech and CNRS, the French National Center of Scientific Research, the company combines expertise in nano-materials science, patented Fluorine-based battery chemistries and manufacturing processes to significantly advance the state of portable power.

Headquartered in Azusa, California, CFX Battery is managed by a world-class team of battery industry leaders from CalTech, Energizer, Duracell, ConocoPhillips, Hewlett-Packard and Ultralife. The company is privately held with funding from CMEA Capital, Harris and Harris, Schlumberger and US Venture Partners.