Juice up.(TECHNOLOGY)(Brief article)

CFX Battery Inc., an Azusa company that builds rechargeable lithium ion batteries for vehicles and electronic devices, recently raised $4.2 million, according to a Web site that tracks venture funding.

A Caltech spinoff, CFX is researching and building a new type of battery that company executives claim will last longer and recharge faster than current models of lithium ion batteries. The additional $4.2 million came on top of $11 million CFX raised late last year.

Joe Fisher, CFX chief executive, said the company would use the additional money to hire more staff and conduct research with the goal of moving its batteries closer to mass production.

Staff reporter Charles Proctor can be reached at cproctor@labusinessjournal.com or (323) 549-5225, ext. 230.

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