Vancouver, June 24, 2019 (GLOBE NEWSWIRE) — Chrysalix Venture Capital, a global venture capital fund with a long history commercializing step-change innovation for resource intensive industries, announces an investment in Feasible Inc., a battery analytics platform company located in Emeryville, California.
“Feasible has developed EchoStat™, a low-cost, battery intelligence platform that provides real-time analytics and actionable insights to solve some of the biggest challenges in battery design, manufacturing and product management,” said Alfred Lam, Vice President of Investments at Chrysalix Venture Capital. “By leveraging intelligent systems technologies, Feasible now makes the previously invisible, visible. This has significant benefits for battery and auto manufacturers in improving the overall quality while reducing costs. The company is led by a strong technical and management team and we look forward to working with them.”
“We are pleased to partner with Chrysalix, based on their long history of focusing on industrial innovation, demonstrated company-building experience, technical knowledge and industry connections,” said Dr. Andrew Hsieh, Co-founder & CEO of Feasible. “Chrysalix is not afraid to take on early-stage risk and has a track record of helping to build companies with university origins that are solving critical pain points in major industries, which is very appealing to us.”
Electric Vehicle (EV) adoption is reaching an exponential inflection point where it is not only driving the rapid growth of lithium ion battery manufacturing but also enabling new applications and business models for second life reuse and recycling of batteries. A key challenge is understanding and managing the cost, quality, performance, and lifetime of a battery pack and its constituent cells. Feasible’s platform uses an acoustic technique combined with proprietary data analytics software to provide real-time monitoring of the physical characteristics of batteries, across the value chain. This can unlock significant battery-related challenges and pain points in multiple industries driving the energy transition, including automotive (EVs), grid scale storage and consumer electronics.
The Chrysalix RoboValley Fund invests in intelligent systems enabled by technologies like AI and IoT to achieve significant improvement in productivity and critical business processes. Feasible is the first investment from this Fund. For more information about Chrysalix, please visit www.chrysalix.com and for more information about Feasible, please visit www.feasible.io.
About Chrysalix Venture Capital
Chrysalix is a global venture capital fund with a long history commercializing step-change innovation for resource intensive industries. Founded in Vancouver, Canada in 2001, Chrysalix has built its reputation on bringing disruptive innovation to the world’s largest industries by investing in intelligent systems, energy technology and resource productivity solutions to deliver outsized financial returns and environmental sustainability. The firm’s investments include breakthrough technologies like smart mining, fast charging electric vehicle infrastructure, emissions-free solar steam, low cost CO2 capture, nuclear fusion, semiconductor power electronics and more. Chrysalix has one of the strongest investment teams in the industry with deep energy, technology and entrepreneurial expertise, and is backed by more than 20 international blue-chip industrial and financial investors. For more information visit: www.chrysalix.com or contact Allison Johnson at [email protected].
About Feasible, Inc.
Feasible, Inc. is helping batteries safely and reliably power our futures. With sound waves and data analytics, Feasible is catalyzing rapid expansion and innovation in the battery industry, enabling faster development times, enhanced throughput and yield in production, lower cost of energy storage, and improved system performance. Founded in 2015 by a team from Princeton University, Feasible is headquartered in Emeryville, California, following their residence in the Cyclotron Road program. For more information, visit www.feasible.io.
Reposted from GlobeNewswire