Boston-Power, Inc has announced $125 million in new funding, from both private equity investment and support from ...
Boston-Power, Inc has announced $125 million in new funding, from both private equity investment and support from China. Boston-Power is establishing a world-class R&D and EV battery engineering facility in China, to build upon their current lithium-ion battery technology in order to develop new energy storage products and solutions.
The Chinese government incentives will be used predominantly to scale manufacturing, research and development, and business development activities in China for the company’s energy storage technology and products.
The private equity investment was led by GSR Ventures, which invests primarily in early stage and growth stage technology companies with substantial operations. Existing Boston-Power investors Oak Investment Partners and Foundation Asset Management (FAM) also participated in the investment round.
Read the full press release here
