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Reuters

Electric vehicle battery startup ONE backed by BMW, Gates-led firm

Michigan-based Our Next Energy, which is developing an advanced battery for electric vehicles, has raised $25 million from investors ranging from German automaker BMW to a clean technology venture firm headed by Microsoft co-founder Bill Gates, the young company said on Monday. Investors in ONE’s Series A round include BMW iVentures, Detroit-based Assembly Ventures and Chicago-based Volta Energy Technologies, which is partnered with Argonne National Laboratories. Another investor is Singapore-based electronics manufacturer Flex Ltd, which is also a strategic partner with ONE.