Space Angels Network Invests in Wireless Power Beaming Company
Kent, WA. September 21, 2011. Space Angels Network, a national network of seed- and early-stage investors focused on aerospace-related ventures, today announced an investment in LaserMotive, Inc. of Kent, Washington led by Brad Fleury, a Space Angels Network member and Director of Edge Consulting. LaserMotive is an independent R&D company specializing in wireless power beaming. LaserMotive is the third company so far in 2011 to receive investment through Space Angels Network and its members.
LaserMotive’s laser power beaming technology, developed for its winning entry in the 2009 NASA Power Beaming Challenge, can wirelessly transfer energy over long distances using laser light to create an endless source of power to aircraft, spacecraft, lunar rovers and more. The company has used its technology to set world records for laser powered helicopter flight, first in August 2010 at the AUVSI Conference in Denver, Colorado, and again in October 2010 at the Future of Flight in Mukilteo, Wash.
“We are very excited about the market applications for our power beaming technology, and the financial commitment from the Space Angels Network will enable us to speed up development of our first commercial product,” said Tom Nugent, President of LaserMotive.
Space Angels Network introduced LaserMotive to Mr. Fleury and Edge Consulting who plans to help introduce LaserMotive technology to new markets. ”It is well known that LaserMotive has an extremely strong background in optical applications; their leadership and their existing track record of success are very impressive. They truly have the capability to revolutionize the aerospace industry,” stated Mr.Fleury. ”If you take a look at the current technical quality of products Laser Motive has developed they clearly raise the bar and bring a competitive advantage to all of their customers.” Edge Consulting works with leading growth minded companies to bring new capabilities to the aerospace marketplace.
Space Angels Network investors were particularly interested in LaserMotive’s potential to revolutionize how unmanned vehicles are powered and the promise of using power beaming for space based applications. ”This investment in LaserMotive a perfect example of the value of an industry-focused angel investor network like Space Angels Network,” said Joe Landon, Space Angels Network Managing Director. ”Our members discovered this unique investment opportunity through Space Angels Network, and our community of industry experts assisted during due diligence to bring the deal to a close.“The amount of the investment was not disclosed.
