American entrepreneur, billionaire and philanthropist, John Paul DeJoria, invests in TEXEL to support the green energy transition
The American entrepreneur and self-made billionaire behind John Paul Mitchell Systems and Patron Tequila, the philanthropist John Paul DeJoria, partners with the Swedish American battery technology development company TEXEL Energy Storage, to support and to speed up the global green energy transition towards a circular and CO2 free future.
To move the world away from fossil fuels, cost effective new battery technology solutions are critical. More mature renewable energy markets, like California, have reached the point where large-scale energy storage systems are vital for further boosting sun and wind powered energy production, moving daytime solar energy production to dark hours demand.
TEXEL energy storage battery technology was named “the success story beyond lithium-Ion batteries” by Innovation X-Lab at the energy storage summit at SLAC in Silicon Valley. A report produced by Savannah River National Laboratory (SRNL) of US Department of Energy stated that the TEXEL technology will in scale become more than 90% more cost-effective than Lithium-Ion in long duration energy storage solutions. Arizona State University has also produced a market assessment report based on the SRNL report that confirms that the TEXEL technology has the highest potential in markets like California.
TEXEL has an exclusive license agreement with one of US Department of Energy’s national laboratories, Savanah River National Laboratory, on one of the key parts of its battery technology solution. The company is preparing for several technical demos, followed by commercial demonstrations, to cater for three targeted market segments, ranging from long duration grid energy storage to creating energy storage for independent households and micro grids.
“I am very happy to partner up and invest in TEXEL’s next generation battery technology… This development not only makes our planet better and safer for all earth’s people… but a technology ready to be developed NOW! More cost effective, more eco-friendly, Hybrid where no additional backup power is needed… A great way to contribute to Earths survival, and a future must for all homes, businesses, cities, states, and countries” – says John Paul DeJoria
Less than two weeks ago, TEXEL and AltaSea, in LA port, announced their cooperation to bring together commercial stakeholders to demonstrate TEXEL’s long-duration energy grid storage solution, as well as for commercial and residential buildings and micro grids.
“I am proud to announce the partnership with John Paul DeJoria. The US is the world’s largest energy market and a priority for TEXEL. To enter our targeted energy market segments there, and with a future IPO in mind, partnering with entrepreneurial and like-minded people of John Paul DeJoria’s stature will be an asset to TEXEL and our planet’s future” – says Lars Jacobsson, Founder and CEO of TEXEL Energy Storage.
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TEXEL Energy Storage
Daniel Wilke
Head of PR
+4673 632 98 27
daniel@texeles.com
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About TEXEL
TEXEL is developing the next generation Hybrid Battery / Energy Storage technology. Cost-effective, circular, sustainable, recyclable, and scalable. TEXEL in combination with renewable energy, like solar, will not only be cost-competitive to fossil fuels but also a technology that secures energy distribution 24/7/365. TEXEL is developed today to solve the energy problems of tomorrow.
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About John Paul DeJoria
Born and raised in Los Angeles, California, and residing in Austin, Texas, Mr. John Paul DeJoria is best known for co-founding two iconic global multi-billion-dollar-valued brands: Paul Mitchell and Patron.
In 1980, Mr. DeJoria and hairstylist Mr. Paul Mitchell used a partially borrowed US$700.00 to co-found Century City, California-based John Paul Mitchell Systems (JPMS). The famous black & white bottle was the result of not having enough money for color printing. JPMS has over 300 full-time employees and a global network of hundreds of educators to teach advanced artistic & technical training classes. Mr. DeJoria remains chairman of the company.
Kline & Company ranks JPMS first in Care & Style sales in the United States and Euromonitor International, the leading independent provider of market research, ranks JPMS second in global sales of professional beauty products. JPMS is the world's largest privately-owned salon hair care company.
JPMS brands (which include more than 300 products) are available in more than 100,000 hair salons in 108 countries. There are three distribution channels: professional, salon-to-customer and direct-to-consumer for which salons can also receive compensation. There are over 100 Paul Mitchell schools throughout the United States, with more planned, and two in Europe.
The company produces salon-quality hair care, hair color and styling tools through a family of brands including Paul Mitchell®, Paul Mitchell® Professional Hair Color, Paul Mitchell® Pro Tools™, Tea Tree, Awapuhi Wild Ginger®, MITCH®, MVRCK®, Neuro®, and Marula Oil. JPMS was the first company to take a stand against animal testing since its inception in 1980.
In 1989, Mr. DeJoria co-founded (eventually having a 70% shareholding) Patron Spirits Intonational. In 2018, Bermuda-based Bacardi Limited purchased the company. Mr. DeJoria is chairman emeritus of the company.
Mr. DeJoria's current commercial interests include investments in ROKiT Group (https://therokitgroup.com), John Paul Pet, Daily Body Restore, Bonanza Park and DeJoria Center at High Star Ranch, among others.
Established in 2011, and with assets exceeding US$50 million, JP's Peace, Love & Happiness Foundation (https://www.peacelovehappinessfoundation.org) channels the DeJoria family's commitment to contributing to a sustainable planet through investing in people, protecting animals and conserving the environment. Partners include Grow Appalachia, Waterkeeper Alliance, Sea Shepard Conservation Society, Mobile Loaves & Fishes Serving Goodness, Keep Austin Fed, Chrysalis, SAFE, and CONNECTHER Film Festival, among others.
In 2011, Mr. DeJoria signed the "Giving Pledge" created in 2010 by Mr. and Mrs. Bill Gates and Mr. Warren Buffet. Today, the commitment includes more than 200 of the world's wealthiest individuals who will "give the majority of their wealth to address some of society's most pressing problems."
Mr. DeJoria has been profiled globally for his corporate and philanthropic initiatives across a multitude of media outlets including ABC's 20/20, CNN, Forbes magazine. Fortune magazine, Fox. Fox Business, Bloomberg. CNBC, MSNBC and NBC, among others. He has also appeared as a mentor for budding entrepreneurs via a guest shark appearance on ABC/CNBC's Shark Tank television program.
In 2018, Mr. DeJoria was appointed Ambassador-At-Large by the prime minister of Antigua and Barbuda, where his family has commercial interests.
