Global Business Funding Group's portfolio company,
Impact Power Technologies, wins battery contract
with FAA and expands lithium polymer battery
“test & evaluation” program
October 1, 2012, Braintree, MA – Global Business Funding Group (GBFG) has announced that its portfolio company, Impact Power Technologies (IPT), has been awarded a $1.3 million contract for high performance telcom batteries by the Federal Aviation Administration. IPT will provide backup power for critical airport runway lighting systems.
According to Richard J. (RJ) Valentine, GBFG President and IPT Chairman, the battery company has also announced the expansion of its highly successful ‘test & evaluation’ program for the company’s lithium polymer batteries. “All users of Motorola XTS 3000/5000 or Harris P7100/P720 radios are now eligible to receive samples of IPT’s lithium polymer batteries for free evaluation,” said Valentine, “and customer tests in the field are showing battery life of nearly 40 hours – even longer than our lab tests indicated.”
IPT guarantees run times of between 25-35 hours, 3-4x longer than OEM lithium ion batteries, plus 3x the recharging cycles at 900 cycles, significantly lighter weight and a price that is 15% lower.
“IPT’s goal is to deliver the finest batteries made,” notes Alan Braverman, GBFG and IPT CEO, “and the IPT team is definitely the team to do it. When GBFG learned what IPT was trying to accomplish, we saw the potential immediately. Here were these battery industry experts – people who had been working at the cutting edge of battery technology literally for decades – with a company dedicated to providing a better solution for customers with critical applications. GBFG’s Executive Vice President, Ken Murphy, owned a battery company and owns battery technology patents with Curt Quinter, IPT’s President. When he brought IPT to us, we knew that we could help build the firm. They had all the technical and market know-how. GBFG could bring the business development expertise that could accelerate sales, growth and profitability.” Read the rest of the story
Valentine agrees. “I’ve been building businesses for a long time, during which I’ve developed a team of professionals with successes in every area of business. This is a real value add for GBFG clients – and our portfolio companies. For example, the GBFG staff is filling a range of vital functions at IPT, capitalizing on their knowledge and the economies of scale we can provide.
“Ken Murphy is serving as COO of IPT, managing day-to-day operations and sales. GBFG CFO, Peter Lake, is developing and implementing financial controls. Our Marketing Director, Dena Kaminsky, is working on a multi-channel marketing campaign. Alan and I are using our networks to connect IPT with potential clients, sales representatives and staff.”
Additional key leaders at IPT include battery industry executives Curt Quinter, President, Bill Minear, Vice President of Sales, and Hung Nguyen, Technical Support Manager.
For details on GBFG or IPT, contact RJ Valentine, 781-228-2200, or Alan Braverman, 609-375-2662.
Global Business Funding Group, Inc., www.GlobalBFG.com, is a specialized business development firm that helps emerging and growth stage businesses accelerate growth and profitability. Founded in 2010 by Wall Street Journal #1 Wall Street Analyst Alan Braverman and serial entrepreneur Richard J. Valentine, the company’s services address all key elements of business development, including:
The company has offices in Princeton, New Jersey, and Braintree, Massachusetts.
Impact Power Technologies, LLC, www.ImpactPowerTech.com, a portfolio company of Global Business Funding Group, Inc., specializes in the design, manufacture and marketing of high performance batteries for critical applications. The company has more than 100 years of combined experience in all battery chemistries, from Lead Acid to Nickel Cadmium to Nickel Metal Hydride, to Lithium Ion and Lithium Polymer. Impact Power Technologies is dedicated to advancing the state of battery technology, to provide our customers with increasing improvements in run time, cycle life and cost efficiency. The company’s corporate offices are in Braintree, Ma; design, manufacturing, quality assurance and testing divisions in Hobe Sound, FL.