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

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of