FORT COLLINS, CO--(Marketwired - May 19, 2016) - Prieto Battery, an advanced 3D Lithium Ion battery technology company, today announced a strategic investment from Stanley Ventures, the newly-formed venture arm of Stanley Black & Decker (
"This investment from Stanley Black & Decker is an important step toward bringing Prieto's innovative battery technology to market," said Dr. Amy Prieto, CEO, CSO and co-founder of Prieto Battery. "Securing strategic partnerships has been a focus for us, both as a way to capitalize our company and as a way to define the markets where our battery technology can demonstrate a competitive advantage."
Larry Harper, vice president of Stanley Ventures, the newly formed venture arm of Stanley Black & Decker, said, "The goal of this collaborative relationship between Stanley Black & Decker and Prieto is to bring their innovative technology to market through our world-class brands and industry leading products."
About Prieto Battery
Prieto Battery Inc., a Colorado company, was founded in June 2009 to accelerate the shift of Prieto's innovations from the research laboratory to the commercial marketplace. The Company's mission is to commercialize a patented 3D lithium-ion battery technology that delivers transformational performance at a competitive cost using non-toxic materials with the ability to customize shapes. Since its incorporation, Prieto has made significant strides in achieving its goal to produce a truly disruptive and transformational battery technology through its patented 3D battery architecture. Alongside the technology, Prieto has also patented a unique electroplating manufacturing process for its battery that uses non-toxic materials and will be price competitive. Prieto's lab and headquarters are based in Fort Collins, Colo. For more information, please contact Katie M. Hoffner, Senior VP of Strategy, Katie.Hoffner@PrietoBattery.com, or visit www.prietobattery.com.
About Stanley Black & Decker
Stanley Black & Decker, a Fortune 500 component of the S&P 500, is the world's largest tools and storage company, the world's second-largest commercial electronic security company, and a world-leading provider of engineered fastening systems, with unique and powerful growth platforms in the oil & gas and infrastructure industries. World headquarters are located in New Britain, Connecticut. Visit www.sbdinc.com for more information.
Cautionary Note Regarding Forward-Looking Statements
This letter contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Prieto Battery and Stanley Black & Decker. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by Prieto Battery and Stanley Black & Decker in this press release is based only on information currently available to Prieto Battery and Stanley Black & Decker, and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.