Boston-Power, Inc., the USA-based provider of lithium-ion battery cells, modules and systems, said this week that it has secured $125m. in new funding from a combination of private equity investment and support from China.
The growth capital and Chinese government incentives will be usaed predominantly to scale manufacturing, research and development, and busainess development activities in China for the company’s energy storage technology and products
Specifically, Boston Power will establish a research and development and electric vehicle battery engineering facility in China that will build on its current technology. It will also build an advanced manufacturing facility in the country capable of producing 400MWh of lithium-ion battery cells annually by the end of 2012.
Ausatralia's Galaxy Resources will start production at its lithium carbonate plant in Lianyungang city of eastern China's Jiangsu province by...