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Posted on January 26, 2017 by staff

Battery-charging innovator receives 250k cash boost

A battery-charging innovator has received a £250,000 cash boost thanks to Startup Funding Club.

Petalite, based in Birmingham, has developed a system it claims will charge batteries to 100 per cent in just 15 minutes.

The commercially-ready system could then be transferred to other devices in sectors such as mobility and automotive.

Based on Faraday Wharf on Holt Street in Birmingham city centre, the tech firm’s investment came via angel syndicate the SFC SEIS Fund.

The Startup Funding Club was formed in 2012 by Stephen Page and four experienced entrepreneurs and investors.

“Recognising the boom in numbers of exciting new start-ups in the UK and the difficulty in accessing seed funding”, SFC claims to have helped to plug this gap through the establishment of an eco-system of entrepreneurs and investors.