ZURICH, Switzerland, September 19, 2019 — Nabtesco Technology Ventures is pleased to announce its first investment, in Spear Power Systems, Inc., a United States-based designer and manufacturer of energy storage systems.
Nabtesco is participating in an investment round led by its strategic partner, Emerald Technology Ventures.
Spear Power Systems provides leading-edge energy-storage solutions for marine, industrial and defense applications. The company sells its solutions under their Trident® (marine), Pike™ (industrial motive), and Spear® (defense) brands.
“Spear’s cutting-edge power-storage products fit very well with Nabtesco’s product-development priorities,” said Hiroshi Nerima, CEO of Nabtesco Technology Ventures. “In the industries we serve, there is a strong trend toward electrification. We are looking forward to working with Spear to explore joint development of components and systems for our customers in the mid- to long term.”
Jeff Kostos, President and CEO of Spear, said: “This investment enables Spear to scale our production capacity and global presence, enhance R&D in our technology-leading energy-storage solutions, and better serve fast-growing marine, industrial e-mobility and defense applications.”
About Nabtesco Technology Ventures (NTV): Nabtesco Technology Ventures is a corporate venture fund launched in 2018 by Japan’s Nabtesco Corporation, in partnership with Emerald Technology Ventures, a global leader in technology venture capital. The EUR 75 million fund invests primarily, but not exclusively, in robotics, motors, sensors, additive manufacturing, artificial intelligence, and Internet of Things technologies. NTV reinforces Nabtesco Corporation’s position as a global leader in manufacturing technology, accelerating investment and collaboration around the world.
About Spear Power Systems, Inc.: Founded in 2014 by experienced energy storage entrepreneurs Jeff Kostos, President & CEO, and Dr. Joon Kim, CTO, Spear designs and manufactures safe, high-performance energy storage systems for clients with some of the world’s most demanding marine, industrial, and defense applications. Spear takes a chemistry-agnostic approach towards integrating its in-house designed, scalable electronics, software, and mechanical systems with the most application-appropriate chemistry in order to maximize value for its clients. For more information, visit spearpowersystems.com