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Li-ion battery maker Boston-Power announces $125M in new financing; focus on and support from China

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The growth capital and Chinese government incentives will be used predominantly to scale manufacturing, research and development, and business development activities in China for the company’s energy storage technology and products. Boston-Power, Inc., GSR Ventures has offices in Beijing and Silicon Valley.

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A123Systems Raises $69 Million in New Round of Private Financing; GE Increases Ownership to More than 10%, Director of GE Global Research to Join Board

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The funding will also support A123’s efforts to develop applications for the smart grid, such as utility-scale energy storage. GE Energy Financial Services and GE Capital’s Equity unit provided $15 million of the amount raised by A123 in this financing. GE will develop the dual battery energy storage system.

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