LONDON – Lithium-ion battery developer Boston-Power Inc. has hired Keith Schmid as chief executive officer, replacing founder Christina Lampe-Onnerud who will continue as executive chairman. Schmid previously served as chief of a power distribution equipment company in Virginia.
Boston-Power (Westboro, Mass.) was founded in 2005 and has made progress in developing longer-lasting, faster-charging lithium-ion batteries with an interest in both mobile devices and electric and hybrid vehicles.
"Keith's prowess in leading fast-growing companies in competitive, high-growth markets positions Boston-Power well to extend its reach into an even larger community of customers and partners," said Bandel Carano, managing partner of Oak Investment Partners, a Boston-Power investor. "He will provide an excellent complement to Christina, as she continues to define the vision for what lies ahead for battery technology and steers our next generations of technology into commercialization," Carano added in a statement.
Boston-Power, which has raised more than $191 million in venture capital, makes batteries for Hewlett-Packard and Asus laptop computers, and it is powering Saab's first electric car.
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