The Sigma Sustainables Energies Fund (“SSEF”), a fund managed by Sigma Technology Management Limited, has led a total investment round of £400,000 in Xipower Limited. SSEF invested £300,000 as lead investor, with Scottish Enterprise investing £100,000 from the newly launched SE Seed Fund.
Xipower has developed patented battery, power management and monitoring technologies for use in products and systems that use rechargeable batteries, super-capacitors and fuel cells. The technology is targeted at the entire spectrum of portable, semi-portable and transportable devices including hybrid vehicles, telecommunications equipment, consumer electronics, renewables, oilfield, medical and defence equipment. End-users benefit from increased time between recharges, maximum energy availabilty and improved battery life.
This round of funding will be used to support the development of the company’s commercial activities and the further expansion of the engineering team.