Octet Scientific Wins Grant from the Innovation Fund America

Cleveland, Ohio: Feb 13, 2019 – Octet Scientific has won an “A” Award from the Innovation Fund America to support its efforts to commercialize its proprietary chemical additives for rechargeable Zinc-based batteries.

Future technology needs batteries that are smaller, lighter, safer, cheaper, more efficient and longer-lasting than today’s options. Zinc batteries have the potential to meet all these needs, yet this veteran energy metal struggles to compete in long cycle battery applications because it suffers from several problems related to recharging. Octet Scientific is developing proprietary new electrolyte additives, specialty chemicals that are dropped in to Zinc batteries in low amounts to seamlessly remove Zinc’s recharging problems. This award from the Innovation Fund America Northeast Ohio will help Octet continue to develop its chemistry for enabling tomorrow’s greener, safer and longer-lasting batteries while also providing educational opportunities for students in Northeast Ohio.

Innovation Fund Northeast Ohio was founded by the Lorain County Community College Foundation in 2007 to fill the capital needs of Northeast Ohio startups at the earliest stage of development. It is the most active pre-seed fund for technology startups in the region and uses Ohio Third Frontier proceeds as its source of funding. To learn more about Octet’s work, contact us at: info@octetsci.com

To learn more about the Innovation Fund and its program, visit: www.innovationfundamerica.org.

Innovation Fund America is a nonprofit partnering with community colleges to accelerate the growth of technology startups through early-stage funding and education. Community colleges are ideal environments for innovation and entrepreneurship. We help colleges leverage their mission, partnerships, and capacity to launch Innovation Funds. These funds provide entrepreneurs the capital, mentoring and education they need to launch and grow new companies, all while inspiring the next generation of innovators. We don’t take any equity, so our money is entrepreneur friendly. And we’re based at community colleges, so our approach is all about entrepreneur education. We fund technology startups led by entrepreneurs who want to create jobs in their communities and inspire the next generation of entrepreneurs. We only have one goal: to help startups succeed. That’s why we work the way we do.