Accelerator Client Intecells Closed Series A Funding and Announced Strategic Partner, Plasmatreat GmbH

West Bloomfield, MI,  July 10, 2019 - Intecells, Inc., a pioneer in a scalable, solid-state, low-cost battery manufacturing technology for lithium-ion batteries,  announced Series A funding, led by Walden International (“WI”) along with its partner, Plasmatreat GmbH, a leader in atmospheric plasma technology.  

The new funding will accelerate the company’s growth and accelerate its product development aimed at reducing battery cost and improving battery performance for all forms of batteries. Mr. Weber Jin, a Partner at WI and  Dr. Hing Wong, Managing Director of WI, will work very closely with the CEO of Intecells, Dr. Xiaohong Gayden, to build it into a global enterprise to impact the future of battery manufacturing. Intecells leverages the expertise of Plasmatreat to develop cold plasma technology for battery manufacturing.

 “We are delighted to have Walden International as an investor and the opportunity to work with Dr. Hing Wong and Mr. Weber Jin,” commented Dr. Xiaohong Gayden, CEO of Intecells.  “Intecells is offering a new path towards a low-cost battery manufacturing globally while helping to catalyze domestic battery industry.  Intecells will focus on developing integrated solutions for the whole battery value chain. Leveraging Walden’s network will enable the company to achieve initial commercial success sooner.  Having access to the engineering talent at Plasmatreat GmbH further shortens the product development cycle to better serve our customers.

“We are pleased to be an investor in Intecells.  Given the rapid global growth of the electric vehicle industry, longer battery life and high performance are critical.   Intecells’ new battery solutions are equipped to address this challenge,” commented Hing Wong, Managing Director of Walden International.  “I am very excited to be working with the Intecells team to build this company into a global battery technology supplier to the EV industry and the consumer electronics industry.”

“The Intecells team is strong and experienced in the battery industry,” stated Mr. Jin.  “Dr. “Xiaohong Gayden is the inventor and pioneer in the development of cold plasma technology used in battery manufacturing.  I am very impressed by Dr. Gayden’s vast experience and knowledge of battery technology.”

“I am glad to have the opportunity to partner with Intecells.”  Commented Mr. Christian Buske, CEO and managing partner of Plasmatreat.  “We want to break free from the constraints of conventional battery design and existing production processes to develop a technology that significantly increases battery performance and make production more efficient.  New battery technologies are not only of vital importance to the rapidly growing field of electro-mobility, they would also optimize countless applications in the consumer electronics sector, or even make them feasible in the first place.”  

About Intecells, Inc.

Founded in 2017, Intecells is a battery manufacturing equipment startup. It develops and licenses technology related to battery electrode fabrication and cell integration using atmospheric plasma. Headquartered in Southeast Michigan.  

About Walden International (“WI”)

WI is a leading international venture capital firm that has provided investors access to cross-border investment opportunities with the advantage of an unrivaled Pan Asia network since 1987. The firm’s funds total over US$2.6 billion in committed capital.  WI has over 100 IPOs listed on 15 exchanges around the world and over M&As.  WI focuses on high technology investments including semiconductor, software, AI/machine learning, cloud infrastructure, data management/security, robotics, etc.,  WI’s investments include GoPro, Inc. (NASDAQ: GPRO), MindTree (BSE:  MTCL IN), SINA (NASDAQ:  SINA), Semiconductor Manufacturing International Corp. (NYSE: SMI and HKSE:  0981.HK), AutoNavi (NASDAQ: AMAP), Inphi (NYSE: IPHI), Silergy Corp., (TPE: 6415),  WebEx (acquired by Cisco), Ndoors (acquired by Nexon Corporation), Ambarella, Inc. (NASDAQ:  AMBA), Sinosun Technology (Shenzhen: 300333), Fujian Haiyuan (Shenzhen: 002529), Com2uS (KOSDAQ: 078340), and iKang Healthcare Group (NASDAQ:  KANG), Meituan Dianping, Verisilicon, Advanced Micro Equipment Fabrication Corp., Cloud Minds, Best (NYSE:  BSTI), DJI.  For more information, please visit www.waldenintl.com.

About Plasmatreat

Plasmatreat is an international market leader in the development of atmospheric plasma technologies and plasma systems for pretreating material surfaces.

Openair-Plasma® jet technology is used in automated and continuous production processes throughout the world in almost every branch of industry. The Plasmatreat Group has technology centers in Germany (head office), the USA, Canada, China and Japan as well as subsidiaries and sales partners in more than 30 countries. For more information, please go to www.plasmatreat.de