Fueled by a multi-million dollar grant by the Department of Energy (ARPA-E), and additional funding through the Chesonis Family Foundation, angel investment and the Massachusetts Clean Energy Center, FastCAP Systems seeks to transform the automotive and grid storage markets by commercializing its novel and enabling high-power, high-energy and low-cost energy storage device. FastCAP's proprietary carbon nanotube electrode technology has enabled breakthrough performance improvement in its cells when compared with commercially available ultracapacitors, a leap forward that could lead to dramatic reductions in the cost of hybrid electric vehicles. And because FastCAP's ultracapacitors are produced with abundant, eco-friendly raw materials and have extremely long life cycles, the environmental benefits associated with widespread deployment of the technology are unlimited.