Swedish corporation receive 1 billion for investments in electrical cars

The American battery company, Boston Power, established by the Sweden Christina Lampe-Önnerud will bring in almost one million Swedish Krona in Chinese venture capital.  The funds should, amongst other things be used to the company’s investments in electric cars.

Boston Power was established by the Swede Christina Lampe-Önnerud 2005.  The company is leading in lithium batteries and have previously attracted attention by their co-operation with Saab on electric cars.

The company is now entering the next phase by attracting USD 125 million, around 850 million Swedish Krona in new capital from Chinese investors and the Chinese Government.  The funds should be used to build a large factory, including a research and development unit in China.

According to Christina Lampe-Önnerud, this is a logical step in Boston Powers development when focusing on Asia where there is a major demand for such products and also a willingness to invest in environmental technology companies.

“The new capital create possibilities for us to continue delivering environmentally sustainable batteries with longer life span and improved performance at a competitive price compared to our competition.  We will gain access to the world’s biggest market with a profound interest and need for green energy, especially for electric cars” she says to SvD.

Furthermore, the Wallenberg Asset Management, already a sig owner in Boston Power, have injected more capital.

Christina Lampe-Önnerud is one of SvD Enterprise section’s new columnists and makes her debut on Wednesday, 28^thSeptember.

http://www.svd.se/naringsliv/kina-miljard-till-svenskbolag_6490816.svd (in Swedish)

For Abatel, being a partner and an agent to Boston Power, this is very positive news and an exciting development, hence more is yet to come, especially as Christina Lampe-Önnerud will be one of SvD’s new columnists.  Accordingly she will attend in a medium reaching numerous readers, amongst them many readers with a big interest in our industry.  Abatel will continue to follow the news flow and excerpts from SvD’s Enterprise section will be available on our home page, so please keep your eyes open for further interesting news!

Abatel is assigned as the Swedish distributor for Boston Power since early spring 2011.  Boston Power is producing and marketing Li-Ion cells and battery systems.  The characteristic features of Boston Power’s products are the combination by high performance like long cycle life in various temperatures, coupled with an environmental-friendly profile – their cells are the first and so far the only Li-Ion cells on the market to achieve the Nordic Ecolabel (“Svanen”).

Boston Power have their roots in Sweden as it was established by the Swedish battery scientist and entrepreneur Christina Lampe-Önnerud, who during the year 2005 decided to create a battery company where the production and the products themselves should distinguish themselves by being both environmental friendly as well as performing with optimal energy efficiency.

Two examples of application where Boston Power’s product are used are portable computers where they supply the batteries to Hewlett-Packard’s lap top computers and they also co-operate with car producers, like SAAB to develop the battery systems to their hybrid vehicles.

With our broad experience and high competence in serving the market with customer tailored batteries, we at Abatel strongly feel that Boston Power is the right partner to offer the next generations’ energy efficient batteries to a market where more and more applications will be powered by batteries.

If you need any further information please feel free to contact us.

The 15th of August Kenth Fransson commenced his employment at Abatel. He lives in Oskarshamn together with his wife and two children. He has a master degree in computer science and engineering from LiTH, and worked for some years as a software engineer at UIQ Technology in Ronneby.

Later on he moved to Oskarshamn and started as a consultant at Elproj Teknik, where he were involved in projects regarding constructing the perimeter protection of Oskarshamns nuclear power plant. He is looking forward to exciting working duties within battery electronics in our rapidly growing market.

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