Battery startup Joule Case lands $500K after making key pivot due to the pandemic

Joule Case batteries. (Joule Case Picture)

Joule Case, an Idaho-based battery tech startup producing stackable power storage models, landed greater than $500,000 in funding as a part of convertible notes.

The infusion of capital has helped the 5-year-old firm shift from a gross sales plan that, earlier than the COVID-19 pandemic hit, was going to focus on occasions and music festivals.

Now the startup is targeted on residential and backup-power prospects. That features meals vans, campers and RV house owners, and other people in search of house power backup for solar energy and within the case {of electrical} outages.

“Within the day-to-day of attempting to maintain your online business afloat or promoting stuff, you must be versatile and decided to make it occur,” stated CEO James Wagoner.

The startup had grown to 12 staff, however needed to lay off employees working particularly on the festival-related merchandise. The corporate, which now has 5 full-time staff, is hiring for product growth and gross sales aligned with the pivot.

In October, Joule Case was topped Early-Stage Innovation of the Yr from the Idaho Innovation Awards. Pictured are founders James Wagoner (second from left) and Alex Livingston (third from left). (Joule Case Picture)

Utilizing lithium ion and lead acid batteries, Joule Case has created a stackable system that may be added or subtracted to relying on the quantity and period of power wanted. The batteries can substitute polluting, noisy gasoline mills.

Joule Case merchandise can be found from the corporate in addition to Tenting World and Northern Device, and the startup lately closed a deal to offer the batteries to a community of greater than 500 electrical wholesale distributors.

Traders within the newest spherical of funding embody Keiretsu Discussion board and Park Metropolis Angels. Joule Case beforehand raised practically $1 million from angel buyers. The startup plans to pursue a Collection A funding spherical within the close to future.

Because the push towards cleaner power continues, Joule Case is a component of a bigger pattern to determine the Pacific Northwest a significant participant within the rising battery tech sector.

There are quite a few startups within the area, together with Woodinville, Wash.-based Group14, which is utilizing nanotechnology in battery science, and ESS, an Oregon-based producer tackling grid power storage. Lavle, a Seattle-area firm creating batteries for marine and different makes use of plans, reported that it’s rising its workforce by greater than 50% by means of the tip of the yr. Seattle’s Zin Boats is making waves in its pitch to turn out to be the “Tesla of the ocean.”

The area can be house to institutional battery experience on the College of Washington and Pacific Northwest Nationwide Laboratory (PNNL), and authorities businesses are buying batteries for transportation tasks together with Washington state’s plans to construct the world’s largest hybrid-powered, auto-carrying ferries.

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