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<br /> Business Leader: Description:tion: ,We
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<br /> r: Mark Jenson, founder and CEO Developer of thin-film, rechargeable batteries www.cymbet.com
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<br /> or products to its key investors,a who's who recent $4.5 million round of financing, the Other upcoming milestones include gen- rg
<br /> list of European industrial giants, including determination of Jenson, Weiss, and erating its first sale,which Shiffman believes
<br /> Bayer, Siemens, Henkel, DSM, Bekaert, Shiffman will cast all doubt aside. will occur within the year, and establishing 0,
<br /> and Schott.The fund's policy is to invest in With an eye toward raising upwards of profitability within three years. Meanwhile, 0,,?.-
<br /> new materials aiming at the microelectron- $50 million or more to begin manufactur- anticipating the next phase in the company's ro
<br /> ic, communication, and life science indus- ing, the most immediate milestone that evolution,Cymbet has moved from its start- i
<br /> tries worldwide. needs to be achieved within the next six up digs at the Genesis incubator in Elk '
<br /> In addition,Cymbet also received financ- months is proving to its current investors River to another building within the city
<br /> ing from Merchant Venture Investments that the company actually can manufacture that accommodate its manufacturing plans.
<br /> (MVI),an international equity pool of more one of its batteries. Key to achieving this "Cymbet has worked exactly how a start-
<br /> than 400 individuals investing jointly in milestone is establishing a partnership with up should,"says Jacobs. "They started small
<br /> buy-outs and development situations. MVI a company that will serve as the beta for in the incubator, and as they've grown, they '
<br /> has offices in Finland, Germany, Italy, Cymbet's battery technology, based on an sought larger space in the community that
<br /> Norway,Singapore,and Switzerland. - actual application of the technology.To add has supported them the most." Mi
<br /> credibility, Shiffman says the company will
<br /> Hitting the Milestones base its processes on ISO 9000 certification
<br /> ile the rise of Cymbet may sound guidelines. .Stephen Dupont(sdupont@clynch.com] s a fre- g
<br /> II
<br /> Vlike a Cinderella story in the making, This is where the Millennium Funds' quent contributor to MinnesotaBusiness. '
<br /> the fact is the next year may be the compa- investment in Cymbet may pay off. The Magazine. He is partner/director of media ,
<br /> ny's most critical. With venture capital participation of companies such as Bayer, relations at Carmichael Lynch Spong, but does
<br /> comes the demand of hitting important Siemens, and Boeing may lead to a connec- not write about his clients. 1
<br /> milestone markers. And lest you think tion that will allow Cymbet to breath life o
<br /> Cymbet is basking in the glow of its most into its technology.
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