fuel cells

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The long and winding road
Lilliputian Systems, MIT spin-out that raised $150 million, runs out of fuel
Former Lilliputian employees Mouli Ramani and Souren Lefian in the company's lab in 2011. Photo by Scott Kirsner for BetaBoston.
One of Boston's best-capitalized — and oldest — startups has run out of fuel thirteen years after it was founded. Lilliputian Systems, which had been developing a $300 system called Nectar that used butane to charge up portable electronics, has been selling off equipment and intellectual property, and plans to vacate its Wilmington office by September, CEO Sohail Khan tells me. That is after about $150 million of investment from venture capital firms that included Kleiner Perkins, Atlas Venture, Fairhaven Capital Partners, Stata Venture Partners, RockPort Capital, and Intel Capital. Intel had hoped to produce components of the Lilliputian system at its microchip factory in Hudson, which is being shuttered this year. Read More