Google.org is investing a total of USD5.5m in two electric car companies, Aptera and ActaCell, through its RechargeIT programme, an initiative that aims to accelerate plug-in hybrid technology. Aptera is getting USD2.75m as part of a total USD24m in Series C funding for its three-wheeled hybrid. Investors include Idealab, Esenjay Investments, the Simons Family and the Beall Family Trust. ActaCell is also getting USD2.75m as part of a total USD5.85 funding round led by DFJ Mercury that includes Applied Ventures and Good Energies. ActaCell is a spin-off from the university of Texas, Austin, working on lithium-ion batteries.
| Amount | USD29.85m | |
| Status | completed | |
| Sold Entity | Stake in Aptera and ActaCell | |
| Targets | Aptera Motors | Prior VC Deals |
| ActaCell | Prior VC Deals | |
| Investors | Idealab | Prior VC Deals |
| Google.org | Prior VC Deals | |
| Good Energies | Prior VC Deals | |
| Esenjay Investments | Prior VC Deals | |
| DFJ Mercury | Prior VC Deals | |
| Applied Ventures | Prior VC Deals | |
| Categories | Electric Drivetrain | |
| Green Vehicle Manufacturers | ||
| Hybrid Drivetrain | ||
| Regions | USA | Prior VC Deals |
Aptera is attracting a great deal of attention for the futuristic design of its hybrid, which is made from lightweight composite materials developed by the aerospace industry. The firm hopes to have an electric car on the market by December and claims the vehicle will get 120 miles per charge. A hybrid version that could get up to 300 miles to the gallon is set to follow in another year. However, due to their unusual design, Aptera may experience problems getting road legal certification for the vehicles.
ActaCell is working on reducing the cost of lithium-ion batteries by minimising the amount of expensive materials, such as cobalt and nickel, that are required in their construction. The company is also hoping to demonstrate superior safety standards and extended battery life. CEO Bill Ott says his firm hopes to begin commercialising its technology by 2010.
The news of google.org’s investment follows the release by RechargeIT of test data showing that a modified Toyota Prius plug-in hybrid can achieve more than 90 miles to the gallon.
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