Urban Electric Power LLC Raises $1.1 Million

Urban Electric Power LLC, an energy storage company commercializing novel battery technology, has raised $1.1 million of a $1.8 million private offering from nine investors, according to an SEC filing.

Based in New York, Urban Electric was founded in 2012 and commercializes battery technology from the Energy Institute of the City College of New York. It is led by CEO Eric McFarland.

McFarland is a professor of Chemical Engineering at the University of California, Santa Barbara. He has published over 140 scientific papers and holds over 35 U.S. and foreign patents. His educational background is in nuclear science and engineering, and he obtained his PhD from the Massachusetts Institute of Technology and his BS and MS degrees from UC Berkeley in nuclear engineering.

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