Think Global has raised $40 million to invest into product R&D and to expand into North America. Think Global is based in Norway and the company expects to become cash-flow positive in 2011. Lithium battery company Ener1 owns 31% of THINK.
The investment round was co-led by RockPort Capital Partners, an investment fund co-located in Boston and Menlo Park, Calif., specializing in energy and clean technology, and Ener1 Inc., the parent company of advanced battery manufacturer EnerDel. Rockport Capital and Ener1 each increased its investment in THINK by $12.5 million.