Times Union: BessTech of Albany receives $250,000 from ENYA
Published:
Wednesday, May 13, 2015 - 16:00
[caption id="attachment_66124" align="alignright" width="299"]
Fernando Gómez-Baquero CEO of BessTech[/caption]
BessTech, an Albany lithium-ion battery technology development company, has received a $250,000 commitment from a local venture capital group to speed up product development and hire new staff.
BessTech, which grew out of SUNY Polytechnic Institute’s Colleges of Nanoscale Science and Engineering and also has an office on River Street in Troy, got the funding commitment from Eastern New York Angels, a member-managed fund that invests in early-stage technology companies.
With the funding provided by ENYA, BessTech will have received $1.3 million from public and private investors since 2010. The company says it is on track to reach its 2015 fundraising goal of $1 million with the ENYA announcement.
BessTech will use the money to speed up commercialization of their battery technology and also hire five new staff members including a new chief technology officer.
