Lithium-ion Battery Maker Imara Calls It A Day

Dec 11 2009 | 9:51am ET

Woodside, California-based Imara Corp. (formerly Lion Cells), a developer of lithium ion battery technologies, has ceased operations.

VP of business development Neil Maguire explained in a blog post:

“We never could get the Operations scaled up and after a year delay, investors needed to cut their losses. In the end, in this exec’s opinion, the battery industry is not about producing compelling PowerPoints, it is about the nuts and bolts of equipment design, process control and repeatability and producing a quality product at high run rates.”

The company had received $19.1 million in funding from Battery Ventures and Nth Power but spent the last eight months looking for an additional $20 million, without success.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...