Wisconsin Battery Company Announces $5 Million Investment

By Author: Orson Amiri
Total Articles: 418
Comment this article

Wisconsin Battery Company (WinBat™) secured a $5 million investment from Infinite Power Systems (IPS), marking 87.5% funding of WinBat’s seed round. The investment will drive the development of prototypes for WinBat’s hemp carbon battery, a collaboration with the University of Wisconsin-Milwaukee, and fund the construction of its new manufacturing facility in Portage. IPS, dedicated to advancing ESG solutions, scouts technologies for sustainability in critical sectors like agriculture and energy. WinBat plans to collaborate with IPS to explore business opportunities in Africa, leveraging WinBat’s technology and IPS’s financial resources and network to introduce energy storage innovations in the region.

WinBat CEO Jeff Greene views the partnership as synergistic, aligning with IPS’s goal of introducing environmentally friendly products. IPS spokesperson Michael Iuliucci highlights the strategic alliance's potential to benefit IPS subsidiaries and investments, emphasizing WinBat's commitment to producing batteries in Africa and sourcing raw materials, including hemp, to support sustainability across the supply chain. IPS is actively investing in projects in Ghana and Nigeria, furthering its mission of promoting prosperity and ESG solutions throughout Africa.

Read More - https://www.techdogs.com/tech-news/business-wire/wisconsin-battery-company-announces-5-million-investment