International Battery (IB), an Allentown, Pennsylvania-based manufacturer of large-format, rechargeable lithium-ion cells, batteries, and systems, closed its $35m Series C financing round. The investment was led by Digital Power Capital, an affiliate of Wexford Capital LP.
The new capital will allow the company to continue to scale up its existing manufacturing plant in Allentown, and will support expanded efforts and staffing in sales and engineering, as well as new product development.
International Battery’s batteries are used in a wide range of transportation, industrial, electric utility, smart grid and military applications.
FinSMEs
06/05/2010