Boston-Power Adds $30 Million in Funding
Boston-Power, Inc. announced $30 million in new private equity. The funding was led by existing investor GSR Ventures. Long-standing Boston-Power investors Oak Investment Partners and Foundation Asset Management (FAM) also participated.
The investment follows Boston-Power’s September 2011 announcement of $125 million in growth capital and Chinese government stimulus programs – comprising a combination of grants, low-interest loans and related financial and tax incentives – and is being used to scale manufacturing, research and development, and business development activities in China for the company’s award-winning energy storage technology and products.