(excerpt from Fortune.com – article by Katie Fehrenbacher June 22, 2015)

“A new stealth startup with a very big idea for batteries has come out of stealth mode.

All eyes have been on Tesla’s planned massive battery factory, under construction just outside of Reno. But on the other side of the country, in Cambridge, Mass., you’ll find an undercover startup that’s been toiling away at a totally different way to design and make what company executives say is a better battery for the power grid and electric cars.

Clean Energy Motorsports

The company, 24M, which came out of stealth mode on Monday, is working on a new type of lithium ion battery that it says is vastly cheaper than what’s currently on the market. The company describes their innovation as “the most significant advancement in lithium-ion technology in more than two decades,” and if the battery can deliver on its promise it could help deliver low cost batteries for important new emerging markets…” – To read the complete article click here.

Resource: Fortune.com

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