The equity investment aims to help Teraloop accelerate the steps needed to bring its patent-pending storage solution to the market within the next two years. The financing will allow the prototype to be finalized for a complete simulation in commercial working conditions.
“Teraloop is delighted to have Yaskawa as an investor. As a company with a strong pedigree in mechatronics and a solid track record in working with new technology firms, Yaskawa brings knowledge and outreach to Teraloop’s development plans, and we will work together to commercialize our technology effectively,” says Edward Ridgway Watt, CEO of Teraloop.
Read the full press release on Teraloop website.
Teraloop is Aalto Start-Up Center portfolio company.