A Somerville-based "cleantech" company called XL Hybrids has raised $1.8 billion to help develop a fleet of hybrid commercial vehicles. The company plans to convert existing vehicles into conventional hybrids, hoping to reduce fuel usage by 15-30%. Tod Hynes is the president of the company and a lecturer at the MIT Sloan School of Management. With oil getting so much negative attention lately, the timing might be right for this company. Maybe they can start by with the Zipcar that got crushed by the duck boat. It'll need some work anyway. [Xconomy.com/Boston]
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