Boston-Power Announces $125 Million in New Financing. Boston-Power, Inc., the rapidly growing provider of next-generation lithium-ion battery cells, modules and systems, today announced $125 million in new funding from a combination of private equity investment and support from China. The growth capital and Chinese government incentives will be used predominantly to scale manufacturing, research and development, and business development activities in China for the company’s award-winning energy storage technology and products.
The private equity round was led by GSR Ventures, a venture capital firm with over $1 billion under management that invests primarily in early stage and growth stage technology companies with substantial operations in China. GSR Ventures has offices in Beijing and Silicon Valley. Additionally, through its stimulus programs and local industrial policies, the Chinese government is providing a range of grants, low-interest loans and related financial and tax incentives. About GSR Ventures About Oak Investment Partners. Boston-Power Names Keith Schmid as CEO. Boston-Power®, Inc., the rapidly growing provider of next-generation lithium-ion battery cells, battery modules and battery management systems, today announced that Keith Schmid has been appointed as chief executive officer. His addition to the management team comes as Boston-Power expands its product and business development, sales and marketing activities in key industry sectors that include transportation, utility energy storage and portable power.
Boston-Power Names Keith Schmid as CEO (Photo: Business Wire) With customers that include worldwide brands such as HP, Saab, Asus and NASA, and more to be announced in the first half of 2011, Schmid brings to Boston-Power a track record for growing companies into industry leaders coupled with an extensive background in the power systems and energy storage industries. He joins from Power Distribution, Inc., a leading provider of power distribution equipment and services, where he served as president and CEO. Additional Resources. REVE - Regulación Eólica con Vehículos Eléctricos - Boston-Power ®, Inc., the rapidly growing provider of next-generation lithium-ion batteries, announced that internationally respected automobile industry executive Robert C. Purcell, Jr. has joined its board of directors. Working closely with Boston-Power’s executive team and fellow board members, Purcell is applying his expertise in battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) to help drive the deployment of Boston-Power’s batteries throughout the transportation sector.
Motivated by a love for cars since he was a teenager, Purcell, 57, embarked on his career by serving as a certified mechanic for luxury models and high performance sports cars. During the next three decades, his vision for the future of transportation and the role that electric vehicles could play led him to a series of progressively more strategic and influential roles within General Motors (GM).
From 1994 to 2002, Purcell led the GM Advanced Technology Vehicles Group (GM ATV). Boston-Power`s Sonata Batteries Power New HP Pavilion dv8. Boston-Power’s Ecolabel-Certified Lithium-ion Battery Technology, Sonata, Now Available for HP Notebooks. Boston-Power Founder and CEO Named 2008 “Best Entrepreneur” WESTBOROUGH, Mass. --(BUSINESS WIRE)--Boston-Power, Inc., the rapidly growing provider of Lithium-ion batteries that redefine portable power, today announced that Founder and CEO Dr.
Christina Lampe-Onnerud has been named a winner of a 2008 Stevie Award for Women in Business in the category of “Best Entrepreneur” for a non-service business under 100 employees. “The success of every entrepreneur is dependant on the commitment and focus of the team she leads” The Stevie Awards were created to honor and generate public recognition of the achievements and positive contributions of organizations and businesspeople worldwide.
The 2008 Stevie Awards for Women in Business is an international competition recognizing the accomplishments of outstanding women executives, business owners and the organizations they run. The awards are produced by the creators of the prestigious American Business Awards. About The Stevie Awards About Boston-Power. Boston-Power Fuels Growth in Clean Technology With Expansion of U.S. Headquarters. Boston-Power Captures Number One Spot on AlwaysOn Inaugural Northeast 100 Top Private Company List. SOURCE: Boston-Power, Inc. April 01, 2008 09:50 ET WESTBOROUGH, MA--(Marketwire - April 1, 2008) - Boston-Power, Inc.®, a rapidly growing provider of first-to-market portable power solutions, today announced that it has been chosen as the highest ranking company on AlwaysOn's debut listing of Northeast 100 Top Private Companies.
Among the world's most closely watched energy storage startups, Boston-Power's internationally recognized executive and technology teams, blue chip venture investment partners and next-generation Lithium-ion battery technology were cited as important factors that earned the company the top spot. Boston-Power and the Northeast 100 Top Companies will be honored at the AlwaysOn Venture Summit East to be held April 7 - April 9, 2008, at the Four Seasons Hotel in Boston, MA.
The first-annual Northeast 100 list was compiled by the AlwaysOn editorial panel. About The AlwaysOn Venture Summit East About Boston-Power About AlwaysOn. Boston-Power(R) Fuels Next Stage of Growth With One of the Largest Portable Power Venture Investments. SOURCE: Boston-Power, Inc. January 03, 2008 08:00 ET Oak Investment Partners Leads $45 Million Series C Round; Capital Infusion Timed With Expansion of Mass Manufacturing for Sonata Family of Next-Generation Lithium-Ion Batteries WESTBOROUGH, MA--(Marketwire - January 3, 2008) - Boston-Power, Inc.®, a rapidly growing provider of first-to-market portable power solutions, today announced $45 million in new funding.
The Series C round was led by Oak Investment Partners and included existing blue-chip investors Venrock Associates, Granite Global Ventures and Gabriel Venture Partners. With $8.4 billion in committed capital, Oak Investment Partners is one of the world's leading venture capital firms. Boston-Power will use the new capital to scale business development, marketing, research and development, and manufacturing operations to meet strong global demand for Sonata -- the company's next-generation Lithium-ion battery technology. Unprecedented Demand for Notebook Computer Batteries. Boston-Power(R) Selects GP Batteries to Expand Manufacturing of Next-Generation Sonata Notebook Computer Battery. SOURCE: Boston-Power, Inc. January 03, 2008 08:01 ET Award-Winning Lithium-Ion Battery Innovator Teams With World's Top Ten Battery Manufacturer WESTBOROUGH, MA and HSINCHU, TAIWAN, REPUBLIC OF CHINA--(Marketwire - January 3, 2008) - Boston-Power, Inc.®, a rapidly growing provider of first-to-market portable power solutions, today announced that it will expand mass production of its Sonata next-generation Lithium-ion battery for notebook computers through a partnership with GP Batteries.
GP Batteries is the number one battery manufacturer in Asia outside Japan and the top consumer battery manufacturer in Greater China. It is a member of Gold Peak, a publicly traded company established in 1964 that has operations worldwide. Boston-Power today also announced $45 million in Series C financing -- among the largest recent portable power venture investments. Sonata will be produced in GP Batteries' state-of-the-art facilities in Taiwan. About GP Batteries About Boston-Power.