SOURCE: GSR Ventures

November 04, 2011 11:00 ET

GSR Ventures, a Leading Early Stage Venture Firm, Announces Receipt of Global Cleantech 100 Awards for U.S. Based Portfolio Companies Boston-Power and SEEO

In Total, Four GSR Portfolio Companies Are Honored

PALO ALTO, CA--(Marketwire - Nov 4, 2011) - GSR Ventures (www.gsrventures.com), an early-stage venture capital firm building world-class technology companies, is the lead investor behind U.S.-based Boston-Power and SEEO, two of four GSR-backed companies on the list of Global Cleantech 100 (http://www.cleantech.com/global-cleantech-100/) for 2011. The Global Cleantech 100 spotlights private cleantech companies worldwide that are most likely to make the most significant market impact over the next five to 10 years.

Both companies are focused on the energy storage market. Boston-Power is a maker of high energy density lithium-ion battery for pure electric vehicle markets, which plans to set up an R&D and advanced manufacturing facility in China by the year-end. SEEO is developing a new generation of rechargeable lithium batteries with an innovative electrolyte material.

Two additional GSR companies, based in China, were also named to the Global Cleantech 100 list. They are LatticePower and ShineOn, both focused on the LED technology market. LatticePower is a pioneer in manufacturing blue/white GaN LEDs on silicon substrates, enabling a dramatically more scalable approach to GaN LED manufacturing and enabling the most cost effective design of an LED lightbulb. ShineOn specializes in the research, development, and production of high brightness LED devices for TV backlight applications.

The annual Global Cleantech 100 report, produced by the Cleantech Group, is based on substantial data and research and input from hundreds of clean technology experts. For this year's list, 45,274 companies were nominated, a 36 percent increase over 2010. Sixteen companies are represented in the 2011 list. http://www.cleantech.com/global-cleantech-100/

GSR's energy storage-focused companies highlight the growing promise of applications that reduce the use of fossil fuels and balance electricity grid operations worldwide.

"The energy storage market offers enormous potential for growth," said Sonny Wu, co-founder and managing director of GSR Ventures. "The technology has become much more advanced and useful. Higher efficiency is a top priority of energy grids worldwide, and energy storage is perfect for that. 600 energy storage products have been announced or deployed worldwide, including a surge of products in the last decade. The industry has entered a new period of innovation as a number of players invest in advanced batteries, compressed air energy storage, flywheels and thermal storage," Wu added.

Sixteen of GSR Ventures' 58 portfolio companies are green technology companies. GSR also invests in Internet and wireless, and semiconductor companies.

About GSR Ventures

GSR Ventures, an early-stage venture capital firm building world-class technology companies, primarily in China, was founded in 2004 and has more than $1 billion under management with offices in Beijing and Palo Alto, CA. GSR invests in Internet and wireless, green technology and semiconductor companies. For more information, please visit www.gsrventures.com.

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