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24M Technologies Nets $10 Million Venture Capital

Tuesday, August 17, 2010 5:32:00 AM PDT | VentureDeal Staff

Boston, Massachusetts  --  Energy storage technology company 24M Technologies (no website) has raised $10 million in its first round of institutional venture capital investment.

24M Technologies is a spinout of A123 Systems and is developing a technological advance that combines attributes of rechargeable batteries, fuel cells and flow batteries.

Charles River Ventures and North Bridge Venture Partners made the investment. Proceeds purposes were not disclosed.

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