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Battery startup replaces CEO with industry veteran

June 04, 2008 | | 208402164
ReVolt Technology Ltd. (Staefa, Switzerland) , a startup formed to develop rechargeable zinc-air battery technology, has appointed James P. McDougall as chief executive officer replacing Dieter Woschitz, who was appointed in September 2007.
LONDON — ReVolt Technology Ltd. (Staefa, Switzerland) , a startup formed to develop rechargeable zinc-air battery technology, has appointed James P. McDougall as chief executive officer replacing Dieter Woschitz, who was appointed in September 2007.

McDougall is a battery industry veteran and has held senior management positions in North America, Asia and Europe in the battery and printed electronics industries.

The company did not give a reason for the replacement of Woschitz but said that his appointment had been temporary.

ReVolt was formed as a spinoff from Norwegian contract research institute Sintef in 2004. The company's founder and chief technology officer, Trygve Burchardt, has developed rechargeable zinc-air battery technology, which the company claims delivers substantially higher energy density at a competitive price compared to other rechargeable batteries and could replace lithium-ion batteries currently used in portable applications.

ReVolt has raised 22 million euro (about $34 million) in total, and a new financing round of 10 million euro (about $15 million) was completed in June 2007. The main investors in ReVolt are Northzone Ventures, Sinvent, Sofinnova Partners, TVM Capital, Verdane Capital and Viking Venture.











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