A Bay Area startup with a plan to create lithium-ion batteries for power tools and outdoor power equipment officially launched in December 2008 with a new name.

After two years in stealth mode, Menlo Park-based Imara Corp.—formerly known as Lion Cells—says it plans to begin high-volume production and shipping of its batteries in late 2009. The company is working on co-development projects with power tool and outdoor equipment companies for battery packs containing Imara’s cells, says Neil Maguire, Imara’s VP of business development. However, Maguire says, Imara not quite ready to announce which companies it is working with.

Imara, which is funded by Boston-based Battery Ventures and San Francisco-based Nth Power, claims its batteries offer an improved power-to-weight ratio over other cordless power tools. Maguire says the company’s patented processing technology combines high power performance with a long lifecycle, or run time. In a test to see which battery could drill the most holes before petering out, Imara bested five unnamed competitors, according to results posted on the company’s Web site.

Beyond saws and lawnmowers, the company says it plans to branch out into specialty products, such as golf carts and portable medical devices, as well as hybrid electric vehicle batteries and grid storage. Imara’s small volume assembly plant is based in Menlo Park; large volume production is slated to take place in Asia, Maguire says. For future automotive manufacturing, the company is investigating facilities near the point of consumption, he added.