Boston-Power, Inc., an early stage provider of portable power solutions, recently announced it has raised $8 Million in first round financing led by investors Venrock Associates and Gabriel Venture Partners. Prior to this investment, the company received seed round funding from private investors including company Chairman Carol Latham.

CEO and founder Dr. Christina Lampe-Onnerud, among the world’s foremost authorities in battery system innovation and design, lead Boston-Power. Strategy and technology advisor to the global battery industry, Dr. Lampe-Onnerud has assembled a world-class team with more than 100 years of combined experience in Lithium-ion technology.

“The Lithium-ion battery technology powering the portable devices consumers rely upon – laptops as well as PDAs and mobile phones – has reached a critical point in its evolution,” said Dr. Lampe-Onnerud. “In January 2005, Boston-Power set out to develop a Lithium-ion battery pack system that would meet the market need now, deliver the highest quality and safety available and still provide industry best performance by a dramatic margin. It was an ambitious goal, and the group we’ve assembled has achieved it. By pairing our industry and operational expertise with that of our investors and advisors, we’re poised to bring our first products to market in the near term.”

“We target the power and energy sectors and we’ve heard many proposals from a range of companies,” said Scott Chou, partner with Gabriel Venture Partners. “Boston-Power stood out for its unparalleled talent, vision, innovative approaches to chemistry, design and manufacturing, and its ability to deliver solutions to the market now.”

“For the past several years, Dr. Lampe-Onnerud has been keynoting industry and government events worldwide, defining the mounting crisis facing battery technology and what must be done to address it,” said Michael Feinstein, general partner with Venrock Associates. “With the recent battery recalls and consumers’ insatiable demand for power-hungry personal electronics products, the situation she identified is now unfolding. Venrock only invests when there’s the right combination of unmatched executive and engineering talent, combined with substantial market growth opportunity. Boston-Power meets those specifications perfectly.”

Members of the world-class team supporting Dr. Onnerud include CTO Per Onnerud, an internationally renowned battery inventor and technology developer who is a leader in worldwide patent strategy and execution. Vice President of Sales Bob Hyotte joins Boston-Power with senior sales and marketing experience from technology companies including Primax/Polaris Electronics, Lexmark International and Honeywell International. CFO Paul Hallee brings to the team over 25 years of experience in finance at high technology companies, with a focus on the enterprise software and systems industry.

For more information on Boston-Power, please visit www.boston-power.com