(
Source: IB) Oakland, NJ -
International Battery (IB) announced that the Company has secured up to $25 million of financing from Digital Power Capital, an affiliate of Wexford Capital LLC, a Greenwich, CT based investment advisor that manages a series of affiliated private equity and hedge funds.
This funding will allow the Company to complete its manufacturing facility in Allentown, Pennsylvania, advance product development and proceed to implement its business plan. International Battery’s new Allentown facility will produce large format lithium ion rechargeable cells and batteries, allowing International Battery to increase its domestic capability for production of low cost lithium ion cell technology for use in hybrid electric, plug-in hybrid electric and extended range electric vehicles.
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