Boston-Power Lands $30M In Backing For Chinese Plant

Law360, New York (December 22, 2011, 6:26 PM EST) -- Lithium ion battery technology company Boston-Power Inc. has reeled in $30 million more from backers led by China-based venture capital firm GSR Ventures in order to build a manufacturing plant in China, Boston-Power announced Thursday.

With a facility under construction outside Shanghai, Boston-Power secured $30 million in follow-on investment from GSR as well as previous venture capital investors Oak Investment Partners and Foundation Asset Management Ltd. The financing complements a $125 million funding package the firms contributed to in September.

The battery manufacturing facility is slated...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.