“City Labs Powers Up Financing, Shares Vision for More Tech Jobs”
November 16, 2010
HOMESTEAD – City Labs, a minority-owned startup company based in South Florida, and innovator of long-life NanoTritium batteries for microelectronics, has completed its first round of financing, led by Alienware co-founder Alex Aguila and other South Florida entrepreneurs including LCS Ventures. City Labs envisions that its success in manufacturing and developing new technology in South Florida will attract not only investors, but will also attract other high technology companies to the area, creating more jobs and business opportunities in the field.
“At City Labs, we are partnering with investors who share our vision of bringing more high-tech research and development to South Florida, and we’re extremely pleased with our first group of esteemed investors,” said Peter Cabauy, co-founder and Chief Executive Officer of City Labs, Inc. “We are excited that with our first-to-market technology developed in South Florida, City Labs will provide customized long-lasting energy capabilities in a wide range of applications, to industries ranging from medical to military to aerospace.”
City Labs’ Tritium batteries enable applications where battery replacement is difficult or impossible, and a source of continuous nanowatt/microwatt power for twenty years or more is crucial. Applications include intelligence-gathering sensors, medical implants, space satellite and probe power sources, trickle charging lithium batteries, semi-passive and active RFIDs, subsea sensors and buoys, wireless dust mote networks and field sensors, smart munitions, memory backup and lower power processors. City Labs’ battery also serves as a vital anti-tamper component for the prevention of reverse engineering.
“City Labs has developed innovative clean technology that will essentially change the landscape of how energy sources are used and monitored,” stated Alex Aguila. “I am very excited to be a part of City Labs as I have an interest in companies that challenge industry norms.”
Founded in 2005, City Labs was initially housed within Florida International University and provided access to its resources. Dr. Kenneth G. Furton, Professor and Dean of FIU’s College of Arts and Sciences, has been a steadfast supporter for bringing high technology opportunities to South Florida. “City Labs, Inc. is the first of what is hoped to eventually be many companies to be incubated at FIU,” said Dean Furton.
