UCAP Power, a developer of ultracapacitor-based power solutions, has announced the close of a special purpose venture round of funding led by Grantchester C Change.

“I am extremely pleased to have Grantchester invest in UCAP’s strategy and vision for clean and reliable power” said Gordon Schenk, CEO of UCAP Power. “Grantchester C Change is the perfect partner for UCAP Power given their broad global reach in the Energy sector and their talented base of operating partners.”

“The UCAP Power team have the global network, relationships and industry experience to make our strategic investments a success,” said Liz Griggs, managing partner & CEO of Grantchester C Change. “We believe that UCAP Power is ideally positioned for significant and rapid growth in support of the global transition to electrified vehicles for both commercial and consumer use. By making this investment in UCAP Power, we are underscoring our support for UCAP Power and their outstanding team as they further build the global leadership of UCAP Power in the energy storage industry around the world.”

With the global vehicle electrification and renewable energy expansions, ultracapacitors are ideally suited to support very high bursts of power over extended cycle periods in scenarios that expose typical battery technologies to failure or safety issues. As a leader in this market, UCAP Power is using the proceeds of the funding round to expand production and engineering capabilities, invest in core technologies, and grow the team.