Recovery Act Impact: FastCAP Systems
What they discovered was a revolutionary, cost effective way to develop "green" batteries that could store energy and charge quickly - in seconds, in most cases. The scientists knew their technology had implications for saving energy and reducing fuel consumption and in 2008 they formed Boston-based FastCAP Systems to bring their ideas to the marketplace.
"We proved the science," said Signorelli. "We were ready to make it a product."
There was just one thing: The pair needed funding to do that.
Fortunately in 2009, FastCAP was one of the first 37 companies across the
"We are developing something transformative," said Signorelli. "We are cutting costs and making batteries that that last longer and are smaller."
The Recovery Act grant also enabled the company to attract private investors so the company could grow and hire much needed talent. In fact the company has
"The stimulus package is really what made FastCAP happen," said Signorelli. "They really believed in the team and the technology."