Wednesday, February 24, 2010
CFX Battery Gets $14.2M
Asuza-based CFX Battery, a Caltech spinout developing battery systems, is announcing today that it has raised $14.2M in additional funding. The firm said the Series B round came from CMEA Capital, Harris & Harris, Schlumberger and US Venture Partners. CFX Battery is run by Joe Fisher, and was co-founded by Nobel Laureate and Caltech Chemistry professor Dr. Robert Grubbs. The firm said the new round brings its total funding to $29.4M. CFX Battery's Fisher said it will use the new funding to double manufacturing capacity at its Azusa headquarters. The firm is developing both primary batteries and advanced, secondary batteries.