Can batteries save Detroit? $300M tax credits say yes
The hits keep on coming for the battered automotive industry and its home base in Detroit, Mich. But there might be a new source of hope: Lithium-ion batteries for electric and hybrid cars. With few other places to turn, the state has bet all its chips on the technology, approving $300 million in tax credits for four advanced battery makers who have set up shop there.
Approved by the Michigan Economic Growth Authority, the credits are… Continue Reading
Lilliputian Systems, a fuel-cell maker, adds on $20M
As the name implies, Lilliputian Systems is developing tiny fuel cells that the company says will be usable in consumer electronics like cell phones and laptop computers.
Although secretive, the company has made claims that its butane-fueled cells will be far cheaper, and run for much longer, than current battery technology. It has not yet announced plans to manufacture or sell the cells.
Lilliputian is backed by Atlas Ventures, Kleiner Perkins Caufield & Byers, Rockport Capital Partners,… Continue Reading