Boston-Power Captures Spot Among 100 Most Promising Companies Driving the Future of Technology

Business Wire,  May 14, 2008  

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Red Herring Recognition Adds Another Prestigious Endorsement to Lithium-ion Battery Startup's List of Industry Recognition and Awards

WESTBOROUGH, Mass. -- Boston-Power, Inc., a rapidly growing provider of first-to-market portable power solutions, today announced that it has been named to the Red Herring North America 100 list for 2008. Boston-Power joins previous winners that include Google, Yahoo!, Skype, Netscape, Salesforce.com, and YouTube.

Bestowed annually for more than a decade, the much-coveted Red Herring award honors the top 100 private technology companies that exemplify game-changing technology in key markets. In order to identify the 100 best companies, the Red Herring editorial team diligently surveys hundreds of technology firms from around the country. Evaluation includes careful analysis of financial data as well as subjective criteria such as quality of the management team, execution of corporate and product strategy, and dedication to research and development.

"Along with the world's top notebook computer providers, Boston-Power is addressing the top complaint mobile users have - poorly performing battery power," said Dr. Christina Lampe-Onnerud, Founder and CEO of Boston-Power. "Earning a place on the Red Herring 100 is a tremendous endorsement of our strategy and technology. We're honored to be named to such an impressive list."

Boston-Power's Sonata redefines the portable power space by establishing new benchmarks in safety, cycle life, performance and environmental sustainability. Initially targeting notebook computers, Sonata delivers the longest cycle life ever available from any Lithium-ion battery. That translates to longer and more usable power - like-new performance for three years versus current batteries that start to fade in only three to six months. Sonata's "drop-in" design enables it to be used with existing notebook computers, requiring no design changes on the part of notebook computer original equipment manufacturers (OEMs).

Highlighting its momentum, Boston-Power recently announced $45 million in Series C funding, bringing total investment in the company to $70 million. The round was one of the biggest venture investments for the year in energy storage and among the top 10 largest investments overall in New England in 2007. In January, Boston-Power also announced expansion of its mass production capabilities through a strategic relationship with GP Batteries, the number one battery manufacturer in Asia outside Japan and the top consumer battery manufacturer in Greater China.

Championing the role that better energy storage must play in combating climate change and preserving the environment, Boston-Power's Lampe-Onnerud this year has been among US and European delegations meeting with high ranking Chinese officials on a range of business and environmental matters. Next month, she will travel to Oslo, where she will be 1 of just 100 dignitaries and business executives worldwide advising on similar technology- and finance-related policy initiatives.

About Red Herring

Red Herring is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Boston-Power

Boston-Power, Inc.is an emerging portable power company answering the call for safer, longer lasting Lithium-ion batteries - today. Led by CEO and Founder Dr. Christina Lampe-Onnerud, a recognized authority in the battery industry, the company is backed by leading venture capital firms Oak Investment Partners, Venrock Associates, Gabriel Venture Partners and Granite Global Ventures. Boston-Power's innovative systems approach to portable power and application-specific batteries starts with safety, while achieving next-generation performance gains. Founded in 2005, the company is headquartered in Westborough, Massachusetts and has Six Sigma-level manufacturing operations in Greater China. For more information, visit www.boston-power.com.

"Boston-Power([R])" and "Sonata([TM])" are trademarks of Boston-Power, Inc. Other brand names or product names are trademarks or registered trademarks of their respective owners.

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