Wisconsin Battery Company (WinBat), a leading innovator in sustainable energy storage solutions, announced that the Wisconsin Economic Development Corporation (WEDC) has awarded a 25% transferrable state Qualified New Business Venture (QNBV) income tax credit for investors in the company. This significant endorsement underscores WinBat’s potential to drive economic growth and technological advancement within the state.
WEDC’s commitment to fostering innovation and supporting high-growth industries includes a tax credit expected to attract substantial investment in WinBat. This investment will facilitate WinBat’s mission to develop cutting-edge battery technologies that meet the growing demand for efficient and environmentally-friendly energy storage solutions.
In conjunction with this award, WinBat has engaged Sterling Ridge Capital Partners, a premier investment advisory firm, to assist in completing its $12 million seed round. This funding round, aimed at accelerating product development and scaling operations, is currently 45% complete.
“We are thrilled to receive this endorsement from WEDC, which highlights the strategic importance of
our work in the energy storage sector,” said WinBat CEO Jeff Greene. “The 25% state income tax credit
for our investors will enhance our ability to attract the necessary capital to bring our innovative solutions
to market.”
Sterling Ridge Capital Partners brings a wealth of experience and a strong track record in securing
investment for high-potential ventures. Their expertise will guide WinBat through the final stages of its seed round, ensuring the company is well-positioned for rapid growth and success.
“WinBat is at the forefront of a transformative industry,” said Luka Petkovic, managing director of
Sterling Ridge Capital Partners. “We are excited to collaborate with them and help realize their vision of
revolutionizing energy storage. The WEDC tax credit adds significant value for investors, and we are
confident in our ability to complete this funding round successfully.”
WinBat advances energy storage technologies that are efficient, reliable, and environmentally sustainable. WinBat will allocate the funds raised in this seed round towards research and development, expanding manufacturing capabilities, and strengthening the company’s market presence.
“Wisconsin is a national leader in electrification, including power storage, in both manufacturing and
research and development,” said WEDC Secretary and CEO Missy Hughes, citing a recent WEDC report
on the electrification industry. “Wisconsin Battery’s work in developing sustainable energy storage
solutions is a perfect example of the kind of innovative thinking that will continue to move our state
ahead.”
How do we go about investing in this company? Is there a minimum investment amount?
Go to the company’s website Sarah. They say potential investors should contact them at [email protected]