Boston Inverter Battery

Formed out of research at MIT, Worcester Polytechnic Institute and other nearby research institutions, these companies are developing technology that could power electric vehicles and smart grids of the future. Venture capital firms are betting big on Boston-area battery companies, too.

The Boston area is home to some of the most well-renowned battery innovation companies in the world. Formed out of research at MIT, Worcester Polytechnic Institute and other nearby research institutions, these companies are developing technology that could power electric vehicles and smart grids of the future.

Boston Power manufactures and markets lithium-ion batteries for transportation, utility energy storage, portable power, and government market applications internationally. It offers battery cells, blocks, modules, and systems; lithium-ion batteries for electric vehicles; and custom solutions for various format battery packs.

Enabling energy storage to continue to flourish in Massachusetts, state officials are working closely with Boston-Power to pursue state and federal financial incentives that will help the company to fulfill its plans of building the Auburn facility.

Venture capital firms are betting big on Boston-area battery companies, too. In fact, three local battery businesses raised funds in October and now plan to supercharge their operations.

Factorial Energy manufactures solid-state batteries that allow electric vehicles to drive 50 percent longer than conventional lithium-ion batteries, according to the company. The Woburn-based company launched from stealth last year and has raised $240 million, including a $200 million Series D in January.