Clean tech company M2E Power on Friday said it has raised money to commercialize battery technology that converts motion to electrical energy.
The $8 million series A round was led by OVP Venture Partners and included money from @Ventures, Highway 12 Ventures, and existing investors. The investment will be used to expand research and development and build initial products.
The company's mission, in essence, is to apply the long-understood Faraday Principle--that putting a conductor near a magnetic field will produce voltage--to 21st century applications.
Its initial target is to create a D-size battery for the military and then … Read more