UCAP Power, Inc. has announced it secured $4.8 million in a recent funding round from investors. The company is a global provider of ultracapacitor-based power solutions, which offer a long-lasting source of reliable high-power energy storage. These sustainable products are designed to help eliminate the reliance on lead-acid and other hazardous materials often found in traditional batteries, providing an environmentally friendlier alternative. UCAP Power aims to bring commercially available ultracapacitor technology into the mainstream, having been founded by proven leaders formerly from Maxwell Technologies’ leadership and product management teams after Maxwell’s acquisition by Tesla.
This significant capital infusion follows UCAP Power's recent completion of the acquisition of Maxwell Technologies assets from Tesla. That strategic acquisition included the Maxwell brand and Maxwell Technologies Korea manufacturing business, providing UCAP Power with immediate market leadership and a strong foundation for investment in key growth areas. The newly raised funds are poised to bolster these efforts, enabling the company to capitalize on its established foundation and accelerate its operational capabilities and market penetration.
UCAP Power plans to strategically deploy the funds to accelerate its growth initiatives, including the further development of innovative, adaptable ultracapacitor products for a wider range of applications. The investment will support the company's mission to make it easier for clients across various industries to choose superior, sustainable power storage solutions. Looking ahead, UCAP Power is positioned to solidify its role as a pivotal player in the evolving energy storage market, driving the widespread adoption of advanced ultracapacitor technology across diverse global sectors.
