DEL MAR, CA–(Marketwired – Sep 14, 2017) – Tricopian Inc., developer of the innovative FuelRod kiosk-based mobile device charging service, has closed a financing transaction with Decathlon Capital Partners that will support expansion of the company’s global footprint.
FuelRod brings the convenience and cost savings of kiosk-based business models to the rechargeable mobile device battery market. At FuelRod kiosks or online at www.fuel-rod.com, customers can purchase kits which include a charger, a USB charging cable, adapters and a small, environmentally-friendly battery that delivers approximately 8 hours of cell phone talk time or 4 hours of tablet usage. Once depleted, the module can be exchanged at any FuelRod SwapBox for a fresh, fully charged FuelRod, or recharged with any standard USB adapter.
“Ninety percent of mobile users suffer from ‘low-battery anxiety,’ 83% run out of power every week, and tethered charging options take 20 to 30 minutes at a time,” said Chi Yau, co-founder and CEO of Tricopian. “Meanwhile, power kiosks charge outrageous prices for minimal charging times. FuelRod changes all that — you can recharge your device anytime, anywhere and untethered to an overpriced kiosk.”
“FuelRod’s patent pending two-way vending approach to lithium-ion batteries means those on the go will have a low cost, convenient and environmentally friendly way to keep their mobile devices charged,” he continued. “The financing from Decathlon Capital Partners will enable us to expand our capacity, build inventory and continue executing on our business plan to grow FuelRod availability worldwide.”
FuelRod has experienced year-over-year triple-digit growth as kiosks in service increased by more than 50%.
“FuelRod is a great example of the kind of company with which we like to work,” said Wayne Cantwell, partner at Decathlon Capital Partners. “Adapting the kiosk-based swap subscription model to the battery market is a terrific idea, and our non-dilutive financing solution allows the company to maintain its growth trajectory. We’re looking forward to working with Chi and his team.”
San Diego, California-based FuelRod is designed and manufactured by Tricopian Inc. as an innovative portable charging program that keeps batteries out of landfills to support a cleaner, more productive planet. Founded in 2011, Tricopian develops efficient and environmentally conscious solutions that provide power for portable battery-operated devices, including cell phones, tablets, flashlights and remote-control toys. For more information, go to http://www.fuel-rod.com.