Boston-Power Announces Leadership Transition

Company Founder Dr. Christina Lampe-Onnerud Leaves the Board

New Executives Join and Long-standing Technology Contributor is Promoted to CTO

WESTBOROUGH, Mass. & BEIJING--(BUSINESS WIRE)--Boston-Power, Inc., the rapidly growing provider of next-generation lithium-ion battery cells, blocks, modules and systems, today announced that Founder Dr. Christina Lampe-Onnerud has resigned from the Board of Directors.

“The Boston-Power Board of Directors joins me in expressing our appreciation of Christina’s contribution to Boston-Power, as its founder, in passionately developing the company into the EV battery technology leader it is today as well as helping with the transition over the past year with the company’s expansion in China. We know that Christina will continue to be an enormous success,” said Boston-Power Chairman Sonny Wu.

“With the recent additions of Tony Shen and Dr. Wayne Yuan to our executive management team as well as leveraging the existing technology leadership with the Westborough R&D team, and our continued momentum in China, we are confident that we will be able to achieve her vision of making Boston-Power into a major supplier of EV battery systems to customers around the globe.”

Dr. Lampe-Onnerud founded Boston-Power in 2005 and the company has filed 150 patents based on its breakthrough technology. Additionally, the company has earned accolades for its executive leadership and technology from organizations that include The Wall Street Journal, the World Economic Forum, The Cleantech Group/Guardian Media and News, Grist, and the Royal Swedish Academy of Engineering Sciences (IVA).

Tony Shen recently joined Boston-Power as chief financial officer. Previously, he served as the CFO of Ku6 Media (NASDAQ:KUTV) and the CFO of China BAK (NASDAQ:CBAK), a global manufacturer of lithium-based battery cells. He has expertise in investor relations, all financial aspects of operations, sales, marketing and mergers/acquisitions.

Dr. Wayne Yuan also recently joined Boston-Power as vice president of engineering. He has over 20 years of experience in the automotive industry, including 16 years working for General Motors in Detroit, Michigan. Most recently, he was the general manager of the R&D Center for Beijing Mercedes-Benz Automotive Co. LLT., Beijing, China, and for six years Dr. Yuan was the vice president of R&D & Engineering at Beijing Hyundai Motor Company, Beijing, China.

Today, the Board of Directors is also pleased to announce the appointment of Dr. Rick Chamberlain as Boston-Power’s chief technology officer, with full responsibility for the technology and product roadmap for the company to become a world leader in electric vehicle batteries. Dr. Chamberlain joined Boston-Power in 2006. His new role will include managing the Boston-based R&D organization encompassing battery chemistry, product engineering and BMS development programs for customers in China, the U.S. and around the world.

About Boston-Power

Boston-Power, Inc. is an award-winning systems provider of next-generation lithium-ion battery cells, blocks, modules and systems. Designed to fuel a wide range of applications, its flagship offerings, Swing® and Sonata®, serve as the foundation for a new era of longer lasting, faster charging, safer and environmentally sustainable batteries. The company’s Swing product delivers unmatched capabilities for Battery Electric and Plug-In Hybrid Electric Vehicles (BEV/PHEV), and utility energy storage applications. Sonata delivers industry leading performance to the portable power and notebook computer markets.

Boston-Power logo, Sonata® and Swing® are trademarks of Boston-Power, Inc. Other brand names or product names are trademarks or registered trademarks of their respective owners.