Boston-Power raising huge $250M round to make more electric car batteries

Electric car battery from Boston Power, image courtesy of Boston Power.

Electric car battery from Boston-Power, image courtesy of Boston Power.

Battery maker Boston-Power is closing on a round of $250 million from investors in China and elsewhere, reports the Wall Street Journal’s Venture Capital Dispatch blog. The company, founded in 2005 in Massachusetts, originally made lithium ion batteries for consumer electronics, but in 2011 launched its electric car lithium ion battery tech. Shortly after that, Boston-Power moved the bulk of its operations to China and raised a round led by China-based investor GSR Ventures. The WSJ report says Boston-Power has battery factory capacity for 300 megawatt-hours of batteries (with annual sales of $100 million) and next year plans to more than triple that factory capacity. The company is providing batteries for electric cars made by Beijing Electric Vehicle Company.

China building super highway for clean power

China likes to do things on a grand scale, which allows it serve its vast population spreading out in huge regions and brag about its technical advancements. Here comes another one: the country is now building a transmission line with a whopping 800-kilovolt of capacity that will ferry wind and solar power over 2,210 kilometers (1,373 miles).

Solar startup Sunpreme raises $50M, heads to China

China has been the epicenter of its own solar manufacturing industry for years but the country has more recently become a destination for U.S. startups setting up their first manufacturing bases in the country as well — like solar maker Sunpreme.

China: Now the land of cleantech capital

China has long been perceived as the must-tackle market for clean power and cleantech, but it’s also become a spigot of private capital for startups that find the marriage of money and market opportunity particularly appealing.

Boston-Power lines up $125M to make EV batteries in China

Boston-Power, which once dreamed of building a lithium-ion cell battery factory in the United States, announced Tuesday it has lined up $125 million of investments to shift a big part of its business to China and thin its operation in the U.S. by about 35 percent.

Boston Power launches electric car battery tech

Boston Power took the wraps off some details about its electric vehicle battery tech, and it says it expects other partners (beyond Saab) to deploy the electric car battery tech later this year and in 2012.

What’s Next for Next Autoworks (Formerly V-Vehicle)?

The road hasn’t been easy for Next Autoworks (formerly V-Vehicle), which is backed by Google Ventures, T. Boone Pickens, and Kleiner Perkins. But the way forward has grown even rockier as legislators consider a proposal to shuffle around funds set aside for Next Autoworks’ project.

Lithium Ion Battery Baby Steps: A 3-Year-Warranty Laptop Battery

The next-generation of lithium ion batteries aren’t just here to power the first wave of electric cars, they’ll be providing better energy storage for gadgets and computers, too. Leyden Energy is launching a lithium-ion battery for laptops that won’t degrade for at least three years.