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A123Systems Receives $30M

A123Systems, developer and producer of patent-pending Nanophosphate” lithium ion batteries, today announced it has completed a $30 million round of funding, bringing the total capital invested in the company to $132 million. A123Systems will use the funds to increase production capacity for new contract awards for hybrid electric, plug-in hybrid electric and extended range electric vehicle design wins with major automakers including a contract to co-develop proprietary cells for the GM E-FLEX program. A123Systems continues to expand its fast growing power tool battery business with Black & Decker Corporation, the world’s largest manufacturer of cordless tools, where the company is helping drive the transition from nickel technology to doped Nanophosphate lithium ion technology. A123Systems recently opened a state-of-the-art manufacturing site for the company’s Automotive Class Lithium Ion batteries. The site is designed for large scale handling of nano-materials, advanced particle control equipment and clean room environments needed to support the stringent manufacturing and quality requirements of the automotive market. Said David Vieau, CEO and president, “We have vertically integrated production from key raw materials to finished cells, incorporating best practices at every level to deliver high quality products with superior performance.” Investors in the company include General Electric, Procter & […]

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Used Cardboard? Who Knew?

Who would think a company that reuses cardboard boxes could be profitable? Los Angeles-based UsedCardboardBoxes.com is proving that reuse has better economics and environmental advantages than does recycling. Founder Marty Metro, a former .com executive, was forced to look for work after the industry went bust. Now he’s becoming the leader in the used cardboard box business! What started as a neighborhood-scale pilot is now being rolled out across the U.S. Quality control and customer service are keys to the business, which rescues quality used, new overrun and misprinted boxes from manufacturers, distributors and retailers. The combination of better prices for comparable quality and environmental consciousness are allowing Metro to expand in both retail and wholesale markets. The company provides a Web-based service for households and businesses to search inventory and order the boxes they need. By matching supply with demand using specific kits designed for small and large users, the company is growing rapidly and will soon have distribution centers in Seattle, Denver, Chicago, Philadelphia and New Orleans to complement its initial Los Angeles facility. Moving kits include tape, markers and packing material as well as used boxes. A moving kit for a studio apartment costs $39; one for […]

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Britain's BT Expands into Wind

BT Group Plc, the largest telecom company in Britain, plans to spend US$509 million to build wind turbines across the country and to generate 25% of its power from thenm by 2016. BT Finance Director Hanif Lalani said to Reuters, “There is a pressing need for industry to cut carbon in ways that makes business sense. “BT has already achieved a 60% reduction in its carbon emissions and is committed to reducing them by 80% by 2016. BT is one of Britain’s largest energy consumers. BT has plans for 120 turbines on or near land it owns. It plans to raise third-party financing for the 250MW project to avoid having the costs on its own balance sheet. The company plans to feed the power into the grid and then buy it back at a favorable price. It already buys most of the renewable energy generated in Britain for its annual electric bill of 150 million pounds.

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$400M Global Pollution Remediation Fund Launches

A $400 million fund is forming to clean up toxic pollution in the developing world. The Global Pollution Remediation Fund is being launched by an international consortium of environmental ministers, researchers and NGOs. “As citizens of the richer countries of the world, we have a responsibility to act,” said Margrit von Braun of the University of Idaho. “We have already solved these problems in our own countries – we have an obligation to transfer our knowledge and resources.” The Fund will be directed toward cleaning up over 400 highly polluted locations worldwide that affect more than 100 million people – people who suffer from reduced life expectancies, increased cancer risks and severe neurological damage. Donors will now be approached to raise the necessary monies. The group concurred that the international community must act immediately to deal with legacy industrial, military, and mining pollution in the poorer countries of the world. They also agreed to the basic protocols for the Fund’s inception and management. “Legacy” refers to residual pollution from activities that are no longer taking place, such as defunct industrial or mining operations. The clean-up work will be cost effective: a recent Blacksmith Institute study reviewed by researchers from Johns […]

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