CHEN PR Client Cadenza Innovation named 2018 Technology Pioneer by World Economic Forum
Innovation Posted Sep 21, 2018 by Courtney Kruzement-Prykhodko
September was off to a busy start for our clients, especially Cadenza Innovation. The lithium-ion battery tech startup headed to China for the World Economic Forum’s Annual Meeting of the New Champions, where it was recognized as a 2018 Technology Pioneer.
What’s most impressive about the honor? This marks the second time since 2010 that the same founding team has earned the prestigious award, and it is believed to be the only group to achieve that distinction.
This year’s cohort brought together 61 early-stage companies from around the globe. The World Economic Forum’s Technology Pioneers community showcases early-stage companies from around the globe that are involved in the design, development and deployment of new technologies and innovations. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
The 2018 Technology Pioneers focus on a wide range of technologies, including clean tech, artificial intelligence, decentralized microgrids, big data, internet of things (IoT), biotechnology, blockchain, autonomous vehicles, cyber security, vertical farming and other agricultural advances, and robotics. The full list can be found here.
In accepting the Technology Pioneer designation, companies embark on a two-year journey where they become part of the World Economic Forum’s initiatives, activities and events, bringing together cutting-edge insights and novel perspectives. The Annual Meeting of the New Champions marks the start of the journey and is regarded as the foremost global summit on innovation, science and technology, promoting entrepreneurship in the global public interest.
The event’s chosen location in Tianjin, China reflects the country’s surging drive for technological development, with the transition to electric vehicles (EVs) a high national priority. According to Bloomberg NEF’s Electric Vehicle Outlook 2018, “by 2040, 55% of all new car sales and 33% of the global fleet will be electric” and “China is and will continue to be the largest EV market in the world through 2040.”
In addition to Cadenza Innovation Founder and CEO Dr. Christina Lampe-Onnerud attending the event and co-moderating several Hub sessions, , the company announced its first licensee deal – with Shenzhen BAK Power Battery Co., Ltd. – among the world’s top 10 lithium-ion battery producers and number one in cylindrical cell manufacturing in China.
“China has for a long time been committed to electric vehicles and electrification,” Lampe-Onnerud told CNBC anchors Martin Soong and Akiko Fujita in Tianjin this week.
Initially targeting the EV and utility/grid storage markets, Cadenza Innovation’s patented supercell serves as the cornerstone of its novel architecture and provides unparalleled simplification in battery pack design. That, in turn, substantially reduces production and manufacturing costs, overcomes safety issues and improves energy density.
“If I can be on par or just a tad lower than the current paradigm—and the current paradigm is based on fossil fuels or high-end cars— if I can bring it below that price, I have a voice,” Lampe-Onnerud continued. “And in addition, if I can put down safety as our key parameter—which is what we did—energy density is where the world is trading right now. We drove them laser hard to make that happen.”
Needless to say, we couldn’t be more proud of Cadenza Innovation, and excited to see what’s next for the company!