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Print Edition StoriesFriday, March 13, 2009
Boston-Power pondering Milwaukee factory site
By Mass High Tech staff
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Boston-Power Inc. is gaining attention in Milwaukee as city alderman Tony Zielinski and city officials try to entice the lithium-ion battery maker to open a factory there, according to published reports.
The Business Journal of Milwaukee writes that the city has a resolution that would allot between $1 million and $20 million for a Boston-Power factory to be built. Boston-Power officials have been in talks with the Milwaukee officials, the journal reports.
Boston-Power announced last month that it was expanding its production capabilities for its Sonata rechargeable batteries through a partnership with GP Batteries, a consumer battery maker based in China and part of Gold Peak Industries (Holdings) Ltd.
Two months ago, the battery maker reported that it had received $55 million in funding to apply to the company’s Sonata battery inclusion in next-generation Hewlett Packard Co. laptops.
Founded in 2005 by CEO and former Mass High Tech Women to Watch Honoree Christina Lampe-Önnerud, Boston-Power has developed an environmentally friendly battery, with better performance characteristics than traditional technologies, according to company documents. Investors have provided the firm with more than $125 million in total funding since its inception. Investors include Foundation Asset Management, Oak Investment Partners, Venrock, GGV Capital and Gabriel Venture Partners.
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