Boston-Power Raises Additional $55 Million

Boston-Power anticipates its Li-on batteries will eventually be used to power various consumer electronics devices as well as hybrid and electric vehicles

Published: 19-Jan-2009

Boston-Power on Wednesday announced $55 million in new funding, bringing to $125 million the total amount invested in the company since its founding in 2005.

Boston-Power will use the new growth capital to scale manufacturing, sales, marketing, and research and development to meet strong global demand for its Sonata Lithium-ion (Li-on) batteries. Initially, that product will target notebook computers.

"This new funding will help us expand our presence significantly in the notebook PC industry," said Boston-Power Founder and CEO Christina Lampe-Onnerud in a statement. "It will also enable us to respond even more quickly to the opportunities in other high-growth markets, especially transportation." Last month, the manufacturer announced Hewlett-Packard (NYSE:HPQ) would be the first customer to offer Boston-Power's Sonata battery as an upgrade option. The company says the battery, which will be available early in the year, offers "like-new" performance for three years, compared with current batteries that start to fade in approximately three to six months.


The battery system was developed by CSIRO in Australia, built by the Furukawa Battery Company of Japan and tested in the United Kingdom through the American-based Advanced Lead-Acid Battery Consortium.

The new batteries will make the GM Hybrid System nearly three times more powerful than the system it replaces. Pictured is 2009 Saturn Vue Green Line with Two-mode hybrid drive.

Dramatic developments in stored-power technology make electric cars more viable than ever. Pictures is Th!nk Global's new Ox crossover vehicle.


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