San Diego Firm Marketing Enviro-Friendly Battery

Venture Capitalists are investing in environmentally-friendly batteries:

In the past 18 months, the venture firms have poured $13.75 million into PowerGenix, which has developed a rechargeable nickel-zinc battery that the company says delivers more power than competing batteries and is easier on the environment.

Initial backers include Silicon Valley's Granite Ventures and Technology Partners. They were joined recently by Boston-based Advent International, New York's Braemer Energy Ventures and OnPoint Technologies of Florida.

Even with strong venture capitalists on board, PowerGenix could be fighting an uphill battle. Dozens of companies have failed to bring promising clean-energy technology to market. Carlsbad's Metallic Power, for example, raised $40 million to develop zinc-based fuel cells that would provide backup power to wireless base stations. But the company ran out of money before luring customers and closed last month.