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Highland Electric Transportation raises $253M to accelerate electrification of school fleets

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The financing was led by Vision Ridge Partners with participation by Fontinalis Partners and existing investors. With technology solutions allowing vehicles to optimally charge and provide grid services, Highland is helping customers improve energy efficiency and resiliency.

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MassCEC Approves $5M Forgivable Loan for A123 Systems; Targeted at Expansion for Grid Storage Systems

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The Massachusetts Clean Energy Center (MassCEC) has approved a $5-million forgivable loan for Li-ion battery manufacturer A123 Systems contingent on its hitting job creation and private investment milestones. With the new expansion, A123 Systems will assemble and commission grid-storage battery systems in Massachusetts.

Grid 199
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A123 Systems 8K filing says substantial doubt about its ability to continue as a going concern; status of grants and incentives

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Although the Company’s intent is to improve its operating efficiencies and to obtain additional financing, there is no assurance that the Company will be able to obtain such financing on favorable terms, if at all, or to successfully further reduce costs in such a way that would continue to allow the Company to operate its business.

Grant 299
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Liquid metal battery company Ambri raises $35M in Series C

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Ambri, developer of Liquid Metal Battery grid-scale energy storage technology, closed a $35-million Series C equity financing. Ambri has raised more than $50 million in equity financing since its founding in 2010 and is the exclusive licensee of the Liquid Metal Battery intellectual property developed at MIT. Earlier post.)

Companies 210
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Liquid Metal Battery Corp secures patent rights from MIT

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Liquid Metal Battery Corporation (LMBC), a Cambridge, Massachusetts company founded in 2010 to develop new forms of electric storage batteries that work in large, grid-scale applications, has secured the rights to key patent technology from MIT. —Luis Ortiz, LMBC’s President.

MIT 210
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US DOT Awards $100M in Recovery Act Funds to 43 Transit Projects to Reduce Energy Consumption and Greenhouse Gas Emissions

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Transit agencies began submitting their proposals after the FTA announced rules for the Transit Investments for Greenhouse Gas and Energy Reduction (TIGGER) grant program as part of the Recovery Act last March. Since President Obama signed ARRA into law in February, grants totaling more than $7.2 The DOT is making $48.1

Emissions 256
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Xerox Parc’s Engineers on How They Invented the Future—and How Xerox Lost It

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The architecture goes back to the TX-2, built with 32 program counters at the Massachusetts Institute of Technology’s Lincoln Laboratories in the late 1950s. But Goldman was unable to convince the executive to whom Xerox’s Electro-Optical Systems division reported (whose background was accounting and finance) to allow a bid.

Future 145