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Small Times: News about MEMS, Nanotechnology and Microsystems Page 3 of 4 <br /> • Bill Priesmeyer: chief executive officer <br /> • • Mark Jenson: founder and president <br /> • James Sullivan: vice president of sales and marketing <br /> • Brian Shiffman: vice president of business development <br /> Selected strategic partners and customers <br /> Cymbet has made a two-year arrangement with Medtronic Inc. to test its batteries in <br /> Medtronic's implantable medical devices. <br /> Investment history <br /> Cymbet received $4.5 million in first-round funding in spring 2001. Participants included <br /> Merchant Venture Investments and Millennium Materials Technologies Fund. The same two firms <br /> provided $1 million in bridge funding in fall 2002. The company is now seeking $10 million in <br /> additional financing. <br /> Barriers to market <br /> Cymbet must bring its product to market quickly, offer an affordable price point and grow its <br /> manufacturing processes, all while watching out for other players in what will ultimately be an <br /> enormous market. Partnerships with larger firms, including original equipment manufacturers, <br /> may be a key to taking the lead. <br /> Selected competitors <br /> • Excellatron <br /> • Front Edge Technology <br /> . • Infinite Power Solutions <br /> Goals <br /> "To be the first to enter the commercial market with a solid state battery that can be built on a <br /> wide variety of possible substrates, including plastics, semiconductors and other materials <br /> having a wide range of product characteristics," said Mark Jacobs, Cymbet president and co- <br /> founder. <br /> Why they're in small tech <br /> "Coming from a semiconductor background, my heritage is small tech," Jacobs said. "When I <br /> first became interested in the solid state battery technology at Oak Ridge National Labs, the <br /> interest was from the perspective of, 'What could I do with this if I could put it directly on a <br /> semiconductor device.' From there the idea has grown to include sensors, MEMS and micro- <br /> implantables." <br /> What keeps them up at night <br /> "I am surrounded by a very gifted management and technical team so many of the nightmares <br /> common to entrepreneurs are being suffered by those around me," Jacobs said. "Personally I <br /> am most concerned about making sure that our time to market is as fast as possible and that <br /> the market entry point is one that will allow Cymbet to develop reasonable revenue and reach a <br /> mature manufacturing capability without immediate significant price pressure." <br /> Contact <br /> • URL: www.cymbet.com <br /> • . Phone: 763-633-1780 <br /> • Fax: 763-633-1799 <br /> • E-mail: info@cymbet.com <br /> http://www.smalltimes.com/print_doc.cfm?doc_id=5911 4/30/2003 <br />