Amadeus Capital Partners, the technology investor, is leading a $15 million expansion financing in Power Paper Ltd, the world’s leading developer of low cost, flexible, micro-power sources. Other investors in this round are Banc America Equity Partners, Millennium Materials Technologies (MMT) Fund and the Polytechnos funds.
Power Paper, founded in 1997 and currently based in Israel, has developed breakthrough technology enabling the mass production of low cost, thin, flexible energy cells to power a variety of applications. The technology enables roll-to-roll printing of caseless energy cells on a polymer film substrate, deploying simple mass printing techniques and proprietary inks. The power source can be coupled to thin (0.5mm) flexible polymer displays, integrated circuits and packaging. A single Power Paper cell produces 1.5 volts and has a shelf-life of two and a half years. All materials used are non-toxic and may be disposed of as non-hazardous waste. Current applications include healthcare (for example monitoring the temperature of individual blood bags in storage and transport); cosmetics (enhancing delivery of cosmetic formulations into the skin); smart active cards, labels and tags, including radio frequency identification (used in supply chain management, retail, airline baggage handling and inventory or parcel tracking); and novelties, toys, greeting cards and active packaging.
Power Paper has established partnerships with several global manufacturers, including KSW Microtec in Germany, Graphic Solutions in the US, and Toppan Forms in Japan. Partnership agreements are designed to provide Power Paper with sustainable licence and royalty revenue streams, ensure a stable supply of batteries and proliferate Power Paper’s technology and products around the world. Current customers include Hasbro, Hallmark, John Dickinson Ltd and a number of leading international cosmetics manufacturers. The company has three patents on its core technologies, with a further ten pending and plans to expand its operations to the UK and continental Europe.
Commenting on the financing, Amadeus’ Barak Maoz, who will join Power Paper’s Board of Directors, says: “Power Paper is an exceptionally well-managed company, developing unique technology that will revolutionise businesses and services in several sectors. Although there are other micro-power products currently in development, none offers the combination of flexibility, low cost, ease of manufacturing and environmental friendliness of Power Paper’s technologies. We are confident that Power Paper is at the forefront of this exciting new area, as evidenced by the exceptional range of partnerships it has already established”.
“We are extremely pleased that Amadeus, a world-class investor, has led this round of financing, which we expect to be our last before reaching profitability” said Shalom Daskal, Power Paper’s CEO. “The backing of our new and existing investors will enable Power Paper to reach new heights in the ongoing commercialisation efforts of our thin and flexible micro-powered products as well as in the continued development of our core micro-power source technology”.