The referenced article was published by the Sacramento Business Journal on October 8, 2024.
SACRAMENTO, CA — Battery technology company Sparkz Inc. announced that it secured a $280 million agreement to supply electric motorcycle company Ryvid Inc. with battery technology and materials over five years from its Sacramento factory.
For media inquiries, please contact Abby Rodriguez at [email protected].
Dr. Sanjiv Malhotra is the founder and CEO of Sparkz—the battery start-up reinventing the energy supply chain.
Malhotra has been a leader in the energy sector for nearly three decades as a founder, investor and executive. Most recently, he served as the inaugural director for the Energy Investor Center at the U.S Department of Energy (DOE), serving under both Democratic and Republican administrations.
At DOE, Malhotra led the Obama Administration’s initiative to boost public-private partnerships to accelerate the commercialization of technologies developed in national research centers like Oak Ridge National Labs.
Malhotra was recruited to the Department of Energy after a successful exit of Oorja Protonics—the world leader in methanol fuel cells—which he founded and led as CEO for 10 years. Oorja raised $50 Million in equity financing from leading VCs such as Sequoia, DAG Ventures, Artis Capital and others during his tenure. He boosted Oorja’s revenue and profitability growth, while expanding operations globally in Japan, China, South Africa, Mexico, and India.
Oorja was acquired in 2014 by the Private Equity firm MinXing Growth Fund.
As an investor and consultant, Malhotra has worked at leading venture capital firms, including Kleiner Perkins Caufield and Byers as an advisor on clean energy and advanced materials.
Earlier in his career, Malhotra led the engineering and product development team at H Power, a pioneer in hydrogen fuel cells. As part of the management team, he managed the successful IPO, which raised more than $100 million in August 2000.
He began his career as a post-doctoral fellow at the renowned Lawrence Berkeley National Labs on electrochemical storage systems. Dr. Malhotra has authored seven patents and more than 40 publications in various fields of energy storage technology and materials. He holds a PhD in chemical engineering and an M.B.A from University of Iowa.
