Seattle Angel Conference VI Invests in Portland-Based Energy Storage Systems

More than 100 new angel investors have awarded nearly one million dollars since 2012

 

Gust

SEATTLE, WA. – November 13, 2014 —

The Seattle Angel Conference announced today that Portland-based Energy Storage Systems was selected as the winner of its sixth investment competition.  The three year old startup that builds efficient battery technology will receive a $135,000 investment award from the Seattle Angel Conference VI LLC.  Five other companies also presented at the conference held on Wednesday.

Energy Storage Systems has developed an extremely cost-effective energy management system that combines a safe, abundant and non-toxic iron electrolyte with their patented flow cell design. “Taking first place is significant for not only our company but other hardware centric startups facing a tougher investment environment based on the success of Pacific Northwest software companies,” said Craig Evans, CEO, Energy Storage Systems.  “Receiving recognition from Seattle angel investors is an important step in helping to complete our funding.”

In less than three years, the Seattle Angel Conference has invested more than one million dollars in 7 Washington State firms across a wide range of industries.  Amazingly the money has come from about 100 investors out of the approximately 75,000 King County residents who are federally qualified to be Angel investors.

“I congratulate Energy Storage Systems on their first place investment prize, and want to acknowledge all six finalists for making it to our final round,” said Keith Laepple, Seattle Angel Conference VI LLC’s volunteer fund manager. “I’m also proud of the insightful work by this fall’s investor group, over half of whom have now grown the ranks of Seattle’s angel community through their first-time participation in Seattle Angel Conference VI. This demonstrates how angel investor skills and confidence develop quickly through fun, facilitated due diligence collaboration, drawing upon the group’s varied expertise and backgrounds.'”

Here were the other finalists selected by the investment team to deliver ten-minute business plan pitches:

Connect2Classes- Connect2Classes™ is the one place class providers can list their classes knowing people will find them; the place where potential students are looking for local and online classes.

NorthAmerica TALK- NorthAmerica Talk builds community social networks.

PotaVida- PotaVida lowers the cost of access to safe water in disasters and urban slums, and enables program evaluation by automating the collection and reporting of usage data.

The Hub Edu- The HubEdu is an online learning community where faculty and students in higher education can collect, connect and collaborate.

THIRD & Loom- Third & Loom is a vertically integrated designer label that democratizes haute couture by letting clients become fashion designers.

“The Seattle Angel Conference is focused on growing the ecosystem for startups by helping to provide early capital for the large number of startups and incubators in our region,” said John Sechrest, founder of the Seattle Angel Conference. “We’re fortunate to have a large pool of residents that are able to invest in local companies and I look forward to working with many more new investors in the future.”

Events sponsors include Barker Hostetler, Ater Wynne, Thinkspace, Impact Hub Seattle, 9 Mile Labs, S@, Surf Incubator, Startup Poker 2.0, SeedInvest, Startup Seattle, WTIA and AWS.

Format

This year’s finalist companies were selected from over 40 companies based throughout Washington that applied to compete at the Seattle Angel Conference 2014. A rigorous selection process was undertaken by a group of angel investors to select the finalist companies. An angel investor is a qualified individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. In the Seattle Angel Conference case, the investment vehicle is convertible debt. The Seattle Angel Conference introduces new Angels to the process of Angel investing through education and participation.

The next Seattle Angel Conference is expected to be held May 21, 2015.  All Washington startups and interested investors should inquire in December about participating in the next round of educational events, trainings, and competition.  Deadline for applications will be February 24, 2015.

About the Seattle Angel Conference

Each Seattle Angel Conference culminates a 5 month program to educate and train accredited investors as exemplary angel investors through workshops, hands-on practice and mentoring.  The Seattle Angel Conference is an investor driven conference, connecting new angel investors with early stage and seed businesses in the Greater Seattle Area.  The Seattle Angel Conference introduces qualified investors to the potential, process and rewards of angel investing, and equally importantly, works to encourage, accelerate and coach startup companies in the Seattle areas and across the Northwest. For more information see http://www.seattleangelconference.com.