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Boston-Power Adds $30 Million in Funding

Thu, 12/22/2011 - 11:20am
PowerPulse.net

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.

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