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IPS Raises Funds to Build Manufacturing Facilities
Infinite Power Solutions (IPS) of Golden, Colorado, has raised $34.7 million primarily to build new facilities for high-volume manufacturing of its LiTE*STAR™ thin-film batteries. Proceeds from this deal will also be used to accelerate business development and continue innovation of future battery technologies.
The D. E. Shaw group and Polaris Venture Partners led the investment in IPS. Other new investors include Core Capital Partners, Applied Ventures LLC, Advanced Energy Technologies and SpringWorks.
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