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<br /> Spotting an opportunity in an emerging field of thin-film technology, founder Mark Jenson (left) and chairman Victor Weiss �.
<br /> d41)take "no" for an answer. They traveled 7,000 miles around the world to find the capital they needed to found Cymbet.
<br /> •nsaamrm, �:s.n+..e..�g'm.ze7x�.^wa'Y �`-„'A"a'.-=•a°4_.., .�, r.�.. .., ' ...... ... ....� _...
<br /> dynamic world of thin-film technology dur- another important step—bringing in sea- Where most people are nearing retire-
<br /> ing his employment with NVE (OTC: soned business managers up front. That ment,Weiss, who entered the Cymbet pic-
<br /> NVEC) [see "Bucking the Odds,” decision led to two long-time acquaintances ture in April 2000,couldn't resist the oppor-
<br /> MinnesotaBusiness, December 1997] during of Jacobs', Victor Weiss, a former Bemis tunity forne more challenge. A chemical
<br /> the late 1980s. But it wasn't until leaving executive who serves as Cymbet's chairman, engineer by training,whose career included
<br /> Plymouth-based Union Semiconductor and Brian Shiffman,a Control Data veteran a stop at Du Pont,Weiss spent the majority
<br /> Technology Corp., a company that Jenson who serves as vice president of business of his career rising through the ranks of
<br /> and several other Honeywell engineers development. Bemis Corp.
<br /> founded in early 1999, that Jenson came up
<br /> with a business idea based on the technology.
<br /> Through various conversations with his
<br /> network of supporters,Jenson learned about -
<br /> battery technologies being developed at Oak 7-,,,,,,,:#7—.. • p,(,� '0 (]a fl"*C1
<br /> Ridge National Laboratory (www.ornl gov) - ,
<br /> located in Oak Ridge,Tenn., a federal gov- rti
<br /> institution that offers
<br /> ernment research ,
<br /> opportunities to license its technolo In GOOD NEWS ■
<br /> reflecting on his experiences at NVE and
<br /> Union Semiconductor, Jenson realized that YOU'LL KNOW E H A C TL Y . H O W
<br /> while thin-film battery technology had great
<br /> .f,-,i'
<br /> potential, the real challenge lies in establish- a M U C H. M 0 N E Y Y 0 U H A U E
<br /> in nufacturing processes to actually pro- `
<br /> dmmercially viable thin-film batteries.
<br /> In early 2000,Jenson, armed with a busi- B fl D NEWS ■ r'
<br /> ness plan,officially hung his shingle out on a
<br /> new business that he called Integrated Power YOU'LL KNOW. E H fl C T L Y HOW _ '
<br /> Solutions,Inc.,which would later be renamed
<br /> Cymbet. At the heaof the new company's
<br /> rt MUCH MONEY YOU HOVE-
<br /> business plan: 15 battery chemistry patents i
<br /> licensed from Oak Ridge National1,,,,!,,,,, - :, 1 s
<br /> laboratory,matched with seven patents pend-
<br /> .
<br /> ing for manufacturing improvements.
<br /> Sparking a Connection iv '
<br /> .i
<br /> enson's experiences with NVE and Union ; With marquette tom,you'll have all the information �r i
<br /> JSemiconductor proved invaluable when ' you need to keep your'business running smoothly. Our web fl
<br /> Jenson hooked up with Harlan Jacobs and
<br /> site is easy and very convenient. Plus, it can save you time j._.
<br /> the incubator that Jacobs' company man- ;
<br /> and mons With marquette.corn you can get instant balance :
<br /> ages with the City of Elk River. y
<br /> As Jacobs describes it,he was floored by reports,transfer funds, originate ACH transactions and z,stop , 1
<br /> the commercial potential of the technology
<br /> payments. Sign up now for marquett.e.com's Business Web
<br /> that Jenson had identified. Jacobs, who iti:himself has experience in the thin-film _ Banking_ For more information, visit us on the web at
<br /> industry as the former CFO of FilmTec W�,,,,,�,•mar uette.com anytime, anyda We'll be.. o en for
<br /> q y , yp '`
<br /> Corporation, immediately helped Jenson 1.5.',
<br /> raise about $300,000 through a combina- n` business. Marquette.com. Nonstop bankng.
<br /> tion of investments from the Anoka-
<br /> urne County Capital Fund and the
<br /> "ver Investment Club, which consists � "
<br /> t
<br /> Marquette Banks ,,,I.::-...:,,,-;.,;-,2:-, j
<br /> of a group of private angel investors. The :i, �
<br /> caveat for accepting this funding—the new ':,..i.-,',:;,,,,,A..".'.14',7::,,',..;.:,..,„.,'„,
<br /> „:
<br /> business must remain in Elk River. Y ” ' -. l; 4 , 7?
<br /> > �t�M,a?fS ,,y >k>.,c�tltf�b{i t"'iy 1 s, {a a ,.5 B{'di.r °{ qi e
<br /> With Jacobs' guidance, Jenson took x ,! F Member l� ,..7'a ue77_,.. nlc. q DDh§v
<br /> *Dtherterms and coniluions Tay�pply , K ,-F;
<br />
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