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Boston-Power Secures $30 Million Follow-On Funding

Friday, December 23, 2011 5:31:00 AM PDT | VentureDeal Staff

   Westborough, Massachusetts  --  Portable power company Boston-Power has raised an additional $30 million in new institutional financing.

Boston-Power sells what it refers to as "safer, longer-lasting lithium-ion batteries" that provide a variety of energy storage solutions.

GSR Ventures led the round, which also included prior investors Oak Investment Partners and Foundation Asset Management.

The company said it would use the funding to help build out its operations and China manufacturing facilities.

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