Prieto Battery receives investment from Stanley Black & Decker
FORT COLLINS — Colorado State University spinoff Prieto Battery on Thursday announced that it has received an equity investment from Stanley Ventures, the venture capital arm of tool manufacturer Stanley Black & Decker.
The size of the investment wasn’t disclosed but it comes on the heels of Prieto notching an investment from Intel last fall that Prieto officials told BizWest would be part of an ongoing Series B-1 funding round. A document filed with the U.S. Securities and Exchange Commission last month shows that Prieto has so far pulled in $1,159,904 in the round, though Prieto lists the full amount of the offering at $3,590,607.
Prieto has been developing a pair of products. The first is a drop-in anode replacement for lithium-ion batteries that features greater energy density and safety than conventional graphite anodes. But the company’s larger play is Prieto’s own 3D lithium-ion solid-state battery cell.
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A Stanley Ventures official said in a press release that the firm’s investment is aimed at bringing Prieto’s technology to market through the tool giant’s products.
