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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 energystorage technology and products. GSR Ventures has offices in Beijing and Silicon Valley.
Seattle, Washington-based EnerG2 , a seven-year-old company focused on introducing advanced nano-structured materials for next-generation energystorage, broke ground on its first facility dedicated to the commercial-scale production of synthetic high-performance carbon electrode material for use in ultracapacitor energystorage devices.
Under the terms of the MassCEC financing, A123 will double its Massachusetts employment to more than 500 by 2014. Headquartered in Watertown with additional facilities in Hopkinton, the company is a leading supplier of battery systems for a wide variety of next-generation energystorage applications.
The funding will also support A123’s efforts to develop applications for the smart grid, such as utility-scale energystorage. 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 energystorage system.
One of the potential answers appears to be energystorage. In 2009, for example, the US Stimulus Plan helped finance research into energystorage with [.]. With electric cars inching ever closer to a mainstream reality, questions are raised as to how the grid will cope with increased demand.
A report released by the World Economic Forum during its annual meeting in Davos warns that to have a chance of limiting the average increase in global temperatures to 2°C, a level which an increasing number of experts already considers unsafe, at least US$515 billion per year will need to be invested in clean energy globally between now and 2030.
Department of Energys Transportation Electrification stimulus program for a federal grant that would enable a nationwide demonstration fleet with the United States Postal Service (USPS) * Potential partnership with USPS to include infrastructure support from ConEd, Duke Energy, DTE Energy and Electric Power Research Institute (EPRI) Washington, D.C.,
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