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FastCAP Systems Invited to Present at Defense Energy Technology Challenge in Austin, Texas

FastCAP Systems has been invited to present its technology as a finalist in the 6th annual Defense Energy Technology Challenge. FastCAP is one of 28 companies invited to present out of hundreds of applicants. Awardees will present their energy technologies at the Defense Energy Summit and Innovation Showcase on November 12, 2014. 

To view the 2014 Defense Energy Technology Challenge Awardees, please follow the link below.

 

FastCAP Systems Shoots for Space with Latest Funding

Boston-based energy storage company FastCAP Systems said it recently raised just over $2 million as it creates a new division aimed at using its technology for space exploration.

FastCAP Aerospace Technologies will also be based out of Boston.

FastCAP is known for its ultracapacitor technology, which makes it possible for batteries to have extremely long lifespans. The batteries are used specifically in oil, gas and geothermal drilling, but it's also working on using the technology in consumer vehicles and aeronautics — both for commercial and military use.

While a normal lithium ion battery has thousands of recharge cycles and is toxic, an ultracapacitor battery has millions of recharge cycles and is less toxic, according to the company.

FastCAP's batteries currently hold five world records, including for one for highest operating temperature, another for highest power and yet another for highest energy, according to FastCAP.

Until now, the company has focused its technology on the oil, gas and geothermal drilling industries.

FastCAP currently has 60 employees total in Boston and Calgary, Alberta. Early next year, the company will add an office in either Oklahoma City or Denver, according to Jamie Beard, FastCAP's director of operations.

FastCAP was founded in 2008 by MIT researchers Riccardo Signorelli and John Cooley to develop capacitors for energy storage. The company has previously focused on developing its ultracapacitors for the electric vehicle and smart-grid markets. The company moved into the Seaport District, also known as the Innovation District, in 2010.

FastCAP has been backed by a 2009 DOE ARPA-E award, funding through the Chesonis Family Foundation, angel investors and the Massachusetts Clean Energy Center.

 

FastCAP Systems Announces Formation of New Subsidiary: FastCAP Aerospace Technologies

Boston-based FastCAP Systems announced the formation of a new subsidiary Monday, adding to a growing portfolio of companies focused on industry specific product development and commercialization. The subsidiary, FastCAP Aerospace Technologies, will lead deployment of FastCAP’s extreme environment and high power ultracapacitor technologies in the space exploration and aeronautics industries, including commercial and defense related aviation applications.

FastCAP Systems has achieved multiple validated performance records over the past two years, including the highest power density and highest operating temperature ultracapacitors in the world. Both of these technologies are uniquely suited for the performance demands and extreme operating environments encountered in aerospace applications. The launch of the new subsidiary comes as engagement with partners in the aero-astro industries has picked up pace over the last year. The mission critical nature of many aero-astro energy storage applications is the driving force behind the increasing interest in FastCAP’s technologies. “A common theme we hear from partners in this space is that currently available energy storage technologies are not getting the job done in terms of performance,” noted Riccardo Signorelli, CEO of FastCAP Systems. “In addition to performance improvement, partners are keenly interested in eliminating or reducing risks associated with volatiles used in batteries today, like lithium.”

FastCAP’s ultracapacitors contain no lithium, and can be used as a stand-alone replacement for battery technologies in some applications, or in a hybrid system to reduce the volume of battery packs in others. FastCAP is looking beyond replacement or supplementation of incumbents to a larger role in spurring innovation and progress in the aero-astro industries. “The most exciting conversations we are having with partners are the projects where our technologies enable entirely new capabilities,” Signorelli said. “These are the breakthrough types of innovations where significant capabilities were out of reach because existing energy storage devices could not provide enough power, or could not survive the extreme operating environments. These are the pursuits where FastCAP stands to make a significant impact in the years to come.”

In addition to FastCAP Aerospace Technologies, FastCAP announced the formation of two other entities earlier this year, U.S. and Canada based FastCAP Exploration Technologies. Both entities are engaged in development and commercialization efforts for FastCAP’s ultracapacitor based power systems in the oil, gas and geothermal exploration industries.

FastCAP Competing as a Finalist in Defense Energy Technology Challenge

FastCAP Systems has been invited to present its technology as a finalist in the 5th bi-annual Defense Energy Technology Challenge. FastCAP is one of 20 companies invited to present out of more than 200 applicants. Awardees will present their energy technologies at the Pacific Defense Energy Summit in Honolulu Hawaii, September 15-17, 2014. The program is co-located with the Asia Pacific Clean Energy Summit and the Asia Pacific Resilience Innovation Summit, convening global leadership across the resilience pillars of energy, agriculture, water and security.

To view the 2014 Pacific Defense Energy Technology Challenge Awardees, please follow the link below.

FastCAP Invited to Present at the Geothermal Resources Council (GRC) Annual Summit

FastCAP Systems will present its technical paper entitled "Downhole Power Source for Geothermal Drilling and Well Development Enabled by a Novel Extreme High Temperature Ultracapacitor" this fall at the largest geothermal conference and expo in the world - the GRC Annual Meeting and Expo. The 38th annual event, taking place in Portland Oregon on September 28-October 1, focuses on the promotion of geothermal energy as a global energy solution and was created to bring together leading minds and emerging technologies in the geothermal energy space. FastCAP's most recent breakthrough in high temperature energy storage, an ultracapacitor that operates safely and reliably at 200C, was developed under a DOE Geothermal Technologies Office grant and was recently validated by Sandia National Laboratory. This technology, along with FastCAP's ongoing development of a 250C ultracapacitor, will be presented at the summit. Both technologies hold great promise in enabling efficient and effective directional drilling capabilities in the geothermal context.

FastCAP to Present at the World Oil HPHT Conference

FastCAP Systems' CEO, Dr. Riccardo Signorelli, will speak at the 2014 World Oil HPHT Drilling and Completions Conference on September 23rd in Houston Texas. The ninth annual event features high level technical discussions exploring the latest in breakthrough high temperature and pressure technologies. The event will feature approximately twenty five presentations from top industry experts, including Baker Hughes, Chevron, Halliburton, Schumberger, Weatherford, Pemex and GE Oil and Gas. FastCAP will present its high temperature ultracapacitor and power systems technologies and their applications in HPHT wells. Please join us on September 23rd, Session III for an engaging discussion of FastCAP's technologies and their breakthrough applications in HPHT wells.