Country for PR: United States
Contributor: PR Newswire New York
Friday, September 14 2012 - 21:00
AsiaNet
Lilliputian Systems Announces $60 Million Equity Financing
WILMINGTON, Mass., Sept. 14, 2012 /PRNewswire-AsiaNet/ --

Lilliputian Systems, Inc. (Lilliputian), a developer of portable power products 
for consumer electronics, is pleased to announce it has closed on $40 million 
of a planned $60 million equity financing round, led by the Russian $10 billion 
investment fund RUSNANO, headquartered in Moscow. RUSNANO, which focuses on the 
development of the Russian nanotechnology industry through co-investments in 
nanotechnology projects, joins Lilliputian's current blue chip investors 
including Intel Corporation, Kleiner Perkins Caufield & Byers, Altira Group, 
Stata Venture Partners, Atlas Venture, and Fairhaven Capital. 

The capital will enable Lilliputian to scale manufacturing operations and 
launch its initial product, the USB Mobile Power System (MPS), a revolutionary 
portable system for powering and charging virtually all mobile phones and 
countless other consumer electronic devices. As part of the transaction, the 
company plans to open a business development office and a research and 
development and manufacturing facility in Moscow. RUSNANO Managing Director 
Georgy Kolpachev will become a member of Lilliputian's board of directors.

"We are happy to announce this round of financing," said Lilliputian CEO Ken 
Lazarus. "This capital provides the funds necessary to finalize manufacturing 
set-up, launch the USB MPS to consumers, and continue expanding our talented 
staff in functional areas across the firm. Furthermore, the opportunity to tap 
into the vast scientific and technical resources available to us in Moscow as 
well as gain access to the fast-growing and vibrant Russian Federation consumer 
market were significant factors in selecting RUSNANO. We could not be happier 
to welcome them to our investment group." 

The USB MPS is a compact, lightweight and portable device that powers and 
charges a variety of consumer electronic products, such as smart phones, 
tablets, mp3 players, eReaders, Bluetooth headsets and digital cameras – 
virtually any USB compatible device. This game-changing product has the 
capacity to power/recharge consumer electronic devices for several weeks on a 
single power cartridge without the need for traditional wall outlets, providing 
true wireless mobility. "It's like having a wall outlet in your pocket," said 
Lilliputian VP of Business Development Mouli Ramani. The power cartridges are 
safe, easy-to-use, inexpensive and recyclable. The revolutionary USB MPS is 
based on Lilliputian's innovative Silicon Power Cell(TM) technology, which 
incorporates several key SOFC, MEMS and nanotechnology elements. The product 
has already been approved for carry-on and use on both domestic and 
international flights.

"RUSNANO is eager to invest in up-and-coming nanotechnology companies around 
the world," said Mr. Kolpachev. "We believe Lilliputian's core technology is 
fundamentally superior to comparable solutions, and their first product, the 
USB MPS addresses a significant and growing market need. We are excited to be 
part of the team commercializing this technology and are confident in its 
success. Moreover, this is a win-win situation for RUSNANO, Lilliputian and the 
Russian high-tech industry. Establishing R&D and manufacturing facilities in 
Moscow will leverage the significant talent, expertise and accomplishments of 
Russian engineers and scientists in nanotechnology, MEMS and fuel-cells for the 
benefit of Lilliputian and the Russian Federation." 

About Lilliputian 
Lilliputian Systems, Inc. has developed the world's first Personal Power(TM) 
solution for Consumer Electronics (CE) devices, a revolutionary family of 
products targeted at the $50 billion portable power market. The company's 
breakthrough solution delivers the only viable small form-factor battery 
replacement that provides the enormous run-time improvements demanded by 
today's CE devices. Lilliputian's patented Silicon Power Cell(TM) technology is 
based on highly efficient solid oxide fuel cells (SOFCs) and 
microelectromechanical systems (MEMS) wafer fabrication methods, including key 
nanotechnology elements, and is fueled by recyclable high energy butane 
cartridges. The technology is reliable, safe, environmentally friendly and 
approved for carriage and use on domestic and international flights. 
Lilliputian's solution enables a 5-10X longer run-time versus similarly sized 
batteries. The company's elegantly designed solution both complements today's 
devices and can seamlessly integrate into future devices – all while ensuring 
the consumer enjoys an essentially infinite supply of Personal Power(TM) for 
their CE devices. For more information, visit www.lilliputiansystems.com and 
our Careers page for a listing of open positions.

About RUSNANO 
RUSNANO was established in March 2011 as an open joint stock company through 
the reorganization of the state corporation Russian Corporation of 
Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology 
industry through co-investment in nanotechnology projects with substantial 
economic potential or social benefit. The Government of the Russian Federation 
owns 100 percent of the shares in RUSNANO. Work to establish a nanotechnology 
infrastructure and training for nanotechnology specialists, formerly conducted 
by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund 
for Infrastructure and Educational Programs, a non-commercial fund also 
established through the reorganization of the Russian Corporation of 
Nanotechnologies. For more information, visit www.rusnano.com. 


    SOURCE: Lilliputian Systems, Inc. 

    CONTACT: Lilliputian CONTACT: Angela Malerba, CHT Group, +1-617-226-7188, 
LSI@thechtgroup.com; or RUSNANO press office: +7-495-988-56-77, 
press@rusnano.com 
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