WILTON, Conn. -- Cadenza Innovation, a provider of energy storage solutions based on disruptive architectures for lithium-ion battery packs, has announced more than $5 million in growth capital.
Cadenza Innovation is the latest venture of Wilton resident Christina Lampe-Onnerud. The company was formed in 2012 and is based in Oxford.
The company will use the new funds to expand product development, secure additional certifications, extend initial deployments, make key new hires and fuel revenue growth.
Dr. Lampe-Onnerud is among the world’s foremost authorities on battery chemistry and design. A World Economic Forum Technology Pioneer, she has shared insights into energy storage and climate change at Davos and for various United Nations groups; is an Ernst & Young Entrepreneur of the Year Hall of Fame winner and MIT Technology Review Young Innovator award recipient; and has earned multiple distinctions for her commitment to environmental sustainability.
There is unprecedented demand for these next-generation solutions, especially in the electric transport and grid markets – each of which is expected to surpass $100 billion in sales within the next decade.
“Cadenza Innovation is capitalizing on its intellectual property, combined with the massive industry learning curve, advancements in manufacturing and increasingly mature supply chains, to create a very low cost approach for the packaging of lithium-ion chemistries,” Dr. Lampe-Onnerud said. “We’re excited to partner with global players for rapid implementation into this unprecedented market opportunity – paying particular attention to battery capacity inside a given footprint, total system cost and an unwavering commitment to safety. Doing this also enables our team to remain a meaningful part of the solution to climate change – a mission we’ve held as individuals for decades.”