The Deal
Sunday, November 8, 
5:41 pm

Battery startup charges up with Google.org backing

  Share     E-Mail    Discussion    Print Story


actacell.jpgActaCell, a startup tackling the tough problem of making electric car batteries both safe and affordable, has raised $5.8 million in Series A financing. The round was led by DJF Mercury and included syndicate funding from Google.org's RechargeIT program, along with Applied Materials Inc.'s [AMAT]  Applied Ventures LLC and Good Energies.

The company's lithium-ion battery research was developed at the University of Texas at Austin. ActaCell is one of two startups working on electric car technology to receive funding from the Google.org program, which funds startup that reduce greenhouse gas emissions. The company said it will use the cash to hire additional staff and put more research toward commercializing a battery. While a number of companies have been able to build lithium-ion batteries that work in cars, their high cost and tendency to explode has blocked broad commercial adoption.  - Andrea Orr

See July 22 announcement from ActaCell on Series A funding
See July 23 story on ActaCell and Aptera from VentureBeat.com

Continue reading below

Also on Dealscape





Post a comment




The Deal Pipeline

Deal Video


Inside The Deal: Linklaters' Schmidt says how regulators handled Pfizer Inc.'s acquisition of Wyeth is an outlier of how others merger reviews will be conducted.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Dealing with frozen bank lending

If your bank is not willing to lend, what can you do as your company continues to seek growth?


Judgment Call

The coming age of the renminbi

The Chinese currency will play an increasingly important role in international commerce and finance.


Industry Insight

Banking on PE investments

Howls of protest greeted the FDIC policy statement, but the financial services industry should get over it.



©Copyright 2008, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.