Starting Today, A123Systems will Accept Consumer Deposits for Plug-in Conversion Modules Capable of Increasing Fuel Economy to More Than 100 Miles Per Gallon and Reducing CO2 Emissions by more than 50%
Watertown, Mass. – April 28, 2008 – A123Systems, developer and producer of Nanophosphate™ lithium ion batteries, today announced the launch of its Hymotion product line’s new Web site, www.hymotion.com, designed to provide information and take orders from individuals interested in purchasing the L5 Plug-in Conversion Module (PCM) for the Toyota Prius. A123Systems also continues to sell Hymotion Plug-in Conversion Modules to fleet and government buyers, with more than 50 vehicles currently on the road in corporate and government demonstration programs.
A123Systems’ Hymotion product line is the only fully tested PCM that meets or exceeds federal requirements for crash-worthiness and emissions. Based on independent testing performed at Argonne National Labs as well as Idaho National Labs, the L5 PCM will enable a Toyota Prius to obtain fuel economies of more than 100 miles per gallon.
A123Systems is in the process of developing and certifying a nationwide dealer network for the Hymotion product line, beginning with Hymotion dealerships in Seattle, San Francisco, Los Angeles, Minneapolis, Boston and Washington, D.C. In an important step for broad acceptance, A123 has been working with the California Air Resources Board (CARB) and has outlined a path for conditional approval from CARB to sell up to 500 conversion modules in the state of California to begin its consumer launch.
“This long-anticipated announcement is celebrated not only by us as the culmination of years of hard work, but by many who are eager to dramatically lower emissions and free themselves from dependence on petroleum,” said Dave Vieau, CEO of A123Systems. “Today, we begin a process that could conceivably change the environmental, economic and political implications of driving a car for the better.”
According to the Electric Power Research Institute (EPRI), half of the cars in the U.S. are driven just 25 miles a day or less. With an average electrically assisted driving range of 30-40 miles, a Toyota Prius equipped with a Hymotion L5 module charged overnight via a standard 120 volt outlet will, for most drivers, significantly reduce the amount of petroleum consumed and CO2 emitted. An L5 charged from the average national blend of electricity results in a 50 percent or greater reduction in overall “well-to-wheel” CO2 emissions compared to a traditional gas-powered vehicle. The L5 module is also environmentally friendly and fully recyclable, containing no heavy metals or toxic chemicals.
Plug-in Conversion Modules will be available for owners of Toyota Priuses, model year 2004 to 2008. At an installed cost of $9995 plus shipping, buyers can choose a certified Hymotion dealer for conversion of their hybrid vehicles. Installations for consumers are expected to begin in July,2008.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
About our Hymotion™ Product Line
A123Systems’ Hymotion product line bridges the current HEV-PHEV gap by enabling thousands of existing hybrids on the road to reach their full green potential through conversion to plug-in hybrids. Our Hymotion product line was developed by automotive industry veterans who set out to design advanced green transportation systems that improve upon existing vehicles and can be used by consumers today.
" ["url"]=> string(0) "" ["published"]=> string(1) "1" ["position"]=> string(1) "3" ["created_on"]=> string(19) "2008-04-29 16:58:07" ["updated_on"]=> string(19) "2008-05-04 13:02:09" ["frontpage"]=> string(1) "1" ["published_on"]=> string(10) "2008-04-28" ["logo"]=> string(30) "A123_logo_white_background.bmp" ["source"]=> string(0) "" ["press_release"]=> string(1) "1" }April 28, 2008
A123Systems Begins Taking Consumer Orders for its Hymotion™ L5 Plug-in Conversion ModulesGENEVA and WASHINGTON - March 5, 2008 - GE (NYSE: GE) announced it is ramping up its efforts to enable global electrification of transportation by investing in Norwegian electric car manufacturer Think, which unveiled a five-seat crossover concept car in Geneva today. To power its vehicles, Think has signed a commercial supply agreement with lithium-ion battery manufacturer A123Systems. GE is in a unique position to help both companies commercialize technology to make electric transportation practical and affordable.
Think presented its investment relationship with GE in Geneva at the 78th International Motor Show, where it unveiled a new platform concept for larger electric vehicles: The crossover TH!NK Ox is an electric five-seat car close to the size of a sport utility vehicle but lighter and more aerodynamic. Also in Geneva, the company launched to the market the TH!NK City, a plug-in electric car with over 100 miles range.
GE announced its electric transportation investments at the Washington International Renewable Energy Conference. The commercial supply agreement with A123Systems provides Think with patented NanophosphateTM lithium-ion batteries for the TH!NK City, now in production at the company's factory in Norway. Think is delivering its first cars in Norway, with international sales to follow later in the year.
A123 is now drawing on the research and technology development expertise of GE Global Research in Niskayuna, New York. The joint research will support A123's battery development, including batteries for Think's vehicles.
GE Energy Financial Services announced it has invested in A123Systems to help the company roll out batteries for Think. GE is now A123's largest cash investor, having put more than US $20 million into the company. In addition, GE disclosed it has invested US $4 million in Think Global, the Norwegian holding company that makes the electric cars. The investments were made by GE Energy Financial Services' recently expanded seven-member venture capital group -- with offices in Stamford, CT, San Francisco, and Munich, Germany. That group has invested nearly US $100 million in 12 companies during the last 18 months.
GE Energy Financial Services and GE Global Research are backing electrification developments in the transportation sector. This is part of GE's ecomaginationSM initiative, the company's commitment to help its customers meet their environmental challenges while expanding its own portfolio of cleaner energy products.
"Our work with A123 and Think taps GE's unique combination of venture capital, engineering, process and commercial expertise to help burgeoning, next generation technology companies bring their innovative products to market," said Kevin Walsh, Managing Director and leader of renewable energy investing at GE Energy Financial Services.
Added Mark Little, Senior Vice President and Director of GE Global Research: "Our researchers are improving energy storage and conversion technology as the key enabler of our founder Thomas Edison's vision of electricity as a viable propulsion system for vehicles, ranging from automobiles to industrial vehicles and locomotives."
A123Systems' President and CEO David Vieau commented: "The GE Global Research Center has been working with A123 on the development of safe and reliable battery-powered transportation, and this has allowed us to accelerate delivery of advanced battery solutions to Think. Our newest collaboration with Think helps us achieve the large-scale production of batteries and integrate them into commercially available electric vehicles."
Speaking at the Geneva auto show, Think CEO Jan-Olaf Willums said: "We see many important opportunities emerging from our new relationship with GE. This relationship will help Think - the manufacturer of the first highway-approved electric car in mass production - to stay at the forefront of electric vehicle technology."
GE's research includes a US $5.6 million US Energy Department contract to develop smaller, lower cost, higher performing hybrid drivetrain motors for hybrid electric vehicles. In addition, GE is working on a US $1.2 million project to develop advanced high temperature, high energy density capacitors. GE researchers are also engaged in a US $13 million project with the US Federal Transit Administration and other industrial partners to build a prototype lightweight, battery-dominant zero emissions hybrid fuel cell bus.
About GE Global Research
GE Global Research was the first industrial research lab in the United States and is one of the world's most diversified research centers, providing innovative technology for all of GE's businesses. Global Research has been the cornerstone of GE technology for more than 100 years, developing breakthrough innovations in areas such as medical imaging, energy generation, jet engines, advanced materials and lighting. GE Global Research is headquartered in Niskayuna, New York and has facilities in Bangalore, India; Shanghai, China; and Munich, Germany. Visit GE Global Research at www.ge.com/research.
About GE Energy Financial Services
GE Energy Financial Services' 350 experts invest globally with a long-term view, backed by the best of GE's technical know-how and financial strength, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With US $17 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than US $5 billion annually in two of the world's most capital-intensive industries, energy and water. More information: www.geenergyfinancialservices.com.
About GE
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
About THINK
Think designs, develops, manufactures and markets environmentally friendly vehicles and technologies. The company has more than 17 years of experience in developing and producing electric vehicles. Today, 1,200 TH!NKs are driving on Norwegian roads. The new TH!NK City is a fifth-generation electric vehicle assembled in Norway. Series production of the TH!NK City car started late last year and the first cars will be delivered to Norwegian customers. At the Geneva Show, it announced the TH!NK City's launch in selected markets in Europe later this year. The capacity of its first assembly plant in Aurskog, outside Oslo, is presently being increased to 10,000 cars per year, which Think expects to reach during 2009. Strong owners with visions and resources want to make Think the "car company of the 21st century." For more info: www.think.no.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
Contact:
Andy Katell, GE Energy Financial Services
+1-203-961-5773
Todd Alhart, GE Global Research
+1-518-387-7914
lhart@research.ge.com
Elizabeth Ames
+1-617-778-5594
press@a123systems.com
Ingvil Ladehaug, THINK Global
47 95 75 70 71
ila@think.no
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A123Systems Signs Production Contract for Think Electric VehiclesAgreement Speeds Up Development of Chevy Volt's Innovative Propulsion System
Traverse City, MI. - August 9, 2007 - General Motors Corp. and A123Systems, Inc. will co-develop cells with A123System's nanophosphate battery chemistry for a long-lasting, safe and powerful battery for use in GM’s electric drive E-Flex system. The agreement is expected to expedite the development of the batteries for both electric plug-in vehicles and fuel cell variants of the E-Flex architecture.
"Breakthrough battery technology will drive future automotive propulsion, and the company that aligns with the best strategic partners will win. That’s what is so important about this deal,” said Bob Lutz, GM vice chairman of Global Product Development. “Whether you’re talking about the Chevy Volt, a fuel cell or even a plug-in hybrid such as our planned Saturn Vue, we need to understand the fundamental battery cell performance.”
The contract calls for A123Systems, of Watertown, Mass., to develop battery cells to meet the specific requirements of GM’s E-Flex system. A123Systems is considered a forerunner in the development of nanophosphate-based cell technology, which, compared to other lithium-ion battery chemistries, provides higher power output, longer life and safer operations over the life of the battery.
The E-Flex electric vehicle architecture was first shown in the Chevy Volt concept car revealed earlier this year. For average commuters driving 40 miles, the Chevy Volt will use zero gasoline and produce zero emissions and could nearly eliminate going to the gas station altogether.
"The Chevy Volt will lead the automotive industry in a new direction,” Lutz said. “We see a future where vehicles run on electricity and are equipped with clever ways of making electricity on board, making us less dependent on gasoline. It's the next great paradigm shift in our industry, an opportunity largely due to the rapid advancement in battery cell technology by companies such as A123Systems and LG Chem.”
Earlier this year, GM awarded two contracts for advanced development of battery packs, which require the integration of multiple battery cells, to Compact Power, Inc., a subsidiary of Korean battery manufacturer LG Chem, based in Troy, Mich.; and Frankfurt, Germany-based Continental Automotive Systems, a division of Continental A.G., a tier one automotive supplier. Under these agreements, one contract was awarded to CPI, which will use battery cells developed by parent company LG Chem. A separate contract was issued to Continental, which will use the cells being co-developed by GM and A123Systems.
"A123Systems and LG Chem are both top-tier battery suppliers, with proven technologies,” said Denise Gray, director of GM's Energy Storage Devices and Strategies. "We’re confident one, or possibly both of these companies’ solutions will meet our battery requirements for the E-Flex system.”
Dave Vieau, A123System's chief executive officer, said this type of battery will be advantageous in other transportation industries as well.
“We’re talking today about the Volt and implications that it will have on the electrification of passenger vehicles, but the technology goes a lot further than that,” Vieau said. “The weight, size, safety and performance of these batteries have implications on all transportation, including hybrid buses, trucks and aircraft.”
A123Systems currently manufactures over ten million cells annually making it the world’s largest producer of batteries with nanophosphate chemistry. Most of these cells are used in rechargeable power tools.
The co-development of this battery technology is the latest step in GM’s efforts to diversify the transportation away from petroleum with a range of alternatives. These include:
A diverse lineup of hybrid models is now in production, the GM diesel hybrid electric system for large city buses, the Saturn Vue and Saturn Aura Green Line hybrid models and the all-new Chevy Malibu hybrid. Coming this fall, the Chevrolet Tahoe and GMC Yukon Hybrid SUVs feature the world’s first 2-Mode hybrid system in an SUV, providing up to a 40-percent improvement in city driving fuel economy to what is already the industry’s most fuel-efficient full-size SUVs. Due next year is a front-wheel-drive 2-Mode hybrid Saturn Vue Green Line, with plans to make a plug-in version of the Vue that has the potential to achieve double the fuel efficiency of any current GM SUV.
GM is also a leading producer of E-85 capable bio-fuel vehicles, with more than two million on the road. Additionally, GM provides more vehicles that achieve 30 mpg highway than any other manufacturer in the U.S. market. GM is also the first automotive member to join the U.S. Climate Action Partnership (USCAP), a group of global companies and non-governmental organizations formed to support an economy-wide, market-driven approach to reducing carbon emissions.
# # #
About General Motors
General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the annual global industry sales leader for 76 years. Founded in 1908, GM today employs about 280,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries. In 2006, nearly 9.1 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
August 9, 2007
GM and A123Systems to Co-Develop Lithium-Ion Battery Cell for Chevrolet VoltHigh-Power, Low-Weight Automotive Class Lithium Ion™ Battery Technology to Power HybriDrive® Propulsion System
Watertown, Mass. - May 17, 2007 - A123Systems, developer and producer of state-of-the-art Automotive Class Lithium Ion™ batteries, today announced that starting in early 2008, BAE Systems will be offering A123Systems’ lithium ion battery technology as part of its HybriDrive® propulsion system. BAE Systems’ HybriDrive propulsion system is available on the DaimlerChrysler Orion VII hybrid transit bus. The system is in use in three of the four largest hybrid bus fleets in the world today. The next-generation HybriDrive system featuring A123Systems batteries will be available for commercial buses beginning in 2008.
‘By introducing lithium-ion technology to the transit industry, BAE Systems is continuing its nearly decade-long commitment to providing clean and efficient hybrid propulsion,‘ said Hank McGlynn, Vice President of Vehicle Systems for BAE Systems in Johnson City, New York. ‘Our lithium ion energy storage system offers better value through longer life, improved performance, and reduced maintenance. It sets a new industry benchmark.”
A123Systems is designing and building turnkey energy storage systems (ESS) specifically for BAE Systems. Built on A123Systems’ Nanophosphate™ chemistry, these packs comprise a power boost component which provides higher specific power, lighter weight and smaller overall volume than the existing battery packs, resulting in a more robust ESS that further reduces emissions in heavy-duty applications. The company’s batteries are significantly smaller and lighter than the previous generation ESS technology typically used in this market and are designed to withstand the heavy duty environments typical of an urban bus drive cycle.
‘Our Nanophosphate cells offer a marked performance improvement in power, calendar and cycle life over other battery technologies available today and address the durability and safety required for automotive use,’ said David Vieau, president and CEO of A123Systems. ‘Being selected by the #1 selling heavy duty hybrid propulsion system manufacturer in this fast-growing market is further validation that our battery packs are helping bring hybrid vehicles into the mainstream.’
A123Systems’ Nanophosphate chemistry has been developed with the assistance of the Department of Energy Freedom Car program and is a result of more than $102 million in private investment. With performance validated by various National Labs and automakers, the A123Systems doped Nanophosphate batteries achieve the superior durability and safety required for automotive use of lithium ion technology.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
May 17, 2007
A123Systems Is Selected As Battery Supplier For BAE Systems’ Hybrid Propulsion System Which Powers The Leading Series Hybrid Bus Supplier in North AmericaPriority Lithium Ion R&D with Automakers and DOE Needed to Support Mass Produced Plug-In Hybrids Should Be Augmented by New Standardized Modules Enabling Today's Hybrids to Become Plug-Ins with a Significant and Earlier Improvement in Mileage Efficiency
Watertown, Mass. - February 26, 2007 - A123Systems of Boston, Massachusetts, developer and marketer of state-of-the-art lithium ion batteries, announced today that their CEO, David Vieau, met with President George W. Bush and Energy Secretary Samuel Bodman at the White House on Friday to inspect a prototype Battery Range Extender Module that can be easily installed in the spare tire well of most hybrid vehicles, enabling these current production models to become plug-in hybrids capable of achieving 150 or more miles per gallon.
Several companies are marketing such modules using A123Systems' battery cells. Testing at DOE's Argonne National Labs has confirmed the effectiveness in an existing hybrid of such range extension battery modules. By year’s end, there will be over 500,000 hybrids on US roads, with over 4 million vehicles expected by the end of the decade that could benefit from these modules.
"A123Systems top priority is to work with automakers, including GM on the Saturn VUE Plug-In Hybrid program. We are also working closely with the DOE in their continuing support for more intensive research, to the end of further reducing the weight and cost of larger cells, which will be critical to the mass production of OEM plug-in hybrids," Vieau observed.
"Every new and converted plug-in hybrid has the potential to reduce oil consumption for that vehicle by as much as 75% and emissions by up to 50% in pursuit of the President's goal to reduce oil imports by 20% before 2017," said Vieau. "The President was very interested in talking about the additional research dollars and consumer incentives that would start putting meaningful numbers of plug-in hybrids on the road as soon as possible," he added.
"In the meantime, introducing the American public to the dramatic efficiency potential of the battery progress we have already made could kick start our national energy savings while providing invaluable experience and data for accelerating the essential transition from foreign oil to an ever cleaner electricity grid," Vieau noted.
A123Systems is also working with NYSERDA on a program that could put as many as 600 Plug-In Hybrids on the road using such range extender modules. Several other states are proposing similar fleet programs. In helping make such plug-in modules available to the greatest number of fleets and consumers, A123Systems will emphasize standardized, mass produced and fully tested installations which, unlike other custom conversions, require no modification of existing software or battery systems, and minimal installation time.
A123Systems CEO shows standardized, easy to install PHEV module to President Bush and Secretary Bodman at the White House
A123Systems also recently announced it will work with GE to develop systems for the hybrid bus market and recently received a $15 million development contract for next generation HEV batteries from the U.S. Department of Energy and the United States Advanced Battery Consortium (USABC), an organization composed of DaimlerChrysler Corporation, Ford Motor Company and General Motors Corporation.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
February 26, 2007
President Bush Meets with A123Systems’ CEO to Discuss Advanced Batteries for Plug-In Hybrids Capable of Over 150 MPGProcter & Gamble's Duracell and A123Systems Collaborate on Future Products
Watertown, Mass. - January 25, 2007 - A123Systems, one of the world’s leading suppliers of high-power lithium-ion batteries, today announced it has completed a $40 million round of funding, bringing the total capital invested in the company to $102 million.
A123Systems will use these funds to scale its technology development and manufacturing capacity for plug-in hybrid electric vehicle (PHEV) batteries, as well as to support the fast growing demand in the power tool, hybrid electric vehicle (HEV) and consumer applications markets.
“As our doped nanophosphate technology continues to deliver superior power, safety and life, we’re experiencing tremendous growth and interest from companies across a vast array of industries looking to innovate new and existing products,” said David Vieau, CEO and President of A123Systems.
This latest round was led by General Electric Commercial Finance which is significantly increasing its investment in A123Systems. Also participating is new investor The Procter & Gamble Company (NYSE: PG), the world’s leading consumer goods company and a leading manufacturer of consumer batteries through its brand Duracell; prior investors are also participating including Alliance Capital, FA Technology Ventures, North Bridge Venture Partners, Sequoia Capital, OnPoint, the Massachusetts Institute of Technology, Motorola, Qualcomm, and Desh Deshpande, the company’s board chairman.
“As the worldwide leader in the battery category, we constantly evaluate emerging technology for its potential to deliver benefits to consumers,” said Mark Bertolami, VP, Global Marketing and General Manager, North America, Duracell. “Our investment in A123Systems coupled with our companies’ joint development activities is intended to further strengthen Duracell’s position in the consumer portable power space. This move also reinforces P&G’s commitment to partner with innovative companies to gain access to new technologies.”
“A123Systems has met or surpassed its key development and performance milestones” said James Kim, Vice President, GE Global Media & Communications. “The company’s latest wins - focused on Plug-In Hybrid and Hybrid Electric Vehicles - are particularly exciting given current global environmental challenges.” added Mark Huang , Senior Vice President, GE Energy Financial Services.
This funding adds to A123Systems’ strong momentum with major customer wins and partnerships in the power tool and automotive industries. Most recently, A123Systems announced it will supply batteries to General Motors for the Saturn Vue Green Line plug-in hybrid development program, the world’s first commercial program of its kind by a major automaker.
A123Systems continues to expand its fast growing power tool battery business with Black & Decker Corporation, the world’s largest manufacturer of cordless tools, where the company is helping drive the transition from nickel cadmium technology to doped nanophosphate lithium-ion technology.
A123Systems is also working with GE to develop systems for the hybrid bus market and recently received a $15 million development contract for next generation HEV batteries by the U.S. Department of Energy and the United States Advanced Battery Consortium (USABC), an organization composed of DaimlerChrysler Corporation, Ford Motor Company and General Motors Corporation.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
January 25, 2007
A123Systems Receives $40 Million Investment to Expand Product Portfolio and Scale Manufacturing of Hybrid and Plug-In Hybrid BatteriesA123Systems’ Automotive-Class Battery Technology To Be Tested In Prototype Saturn Vue Green Line Plug-In Hybrid SUVs
Watertown, Mass. - January 4, 2007 - A123Systems today announced that it will supply General Motors Corp. advanced Lithium Ion batteries optimized for plug in hybrid vehicles through its Tier 1 partner, Cobasys LLC.
A123Systems’ batteries will be evaluated in prototype Saturn Green Line Vue plug-in hybrid SUVs later this year. GM recently announced its intention to produce a Vue Green Line plug-in hybrid SUV that has the potential to achieve double the fuel efficiency of any current SUV.
”We are committed to offering commercially viable, sustainable and safe alternative vehicles,” said Denise Gray, GM’s newly appointed director of hybrid energy storage systems. “In order to do so, we need battery suppliers that can provide us with durable and reliable batteries that help us accelerate production-ready designs. We look forward to the testing and development stages with A123Systems.“
Last month, A123Systems was awarded a $15 million development contract by the United States Advanced Battery Consortium (USABC), an organization composed of DaimlerChrysler Corporation, Ford Motor Company and General Motors Corporation. USABC awarded the contract in collaboration with the U.S. Department of Energy (DOE) to optimize the A123Systems proprietary doped nanophosphate battery technology for hybrid electric vehicle applications with a focus on systems that are high-power, abuse-tolerant, long lasting and cost effective.
“We are looking forward to working General Motors and Cobasys on this program” said David Vieau, president and CEO of A123Systems. “Our work with the world’s largest automaker will help validate the durability, reliability, safety and value of our battery technology and the overall market viability of alternative energy vehicles.”
A123Systems’ automotive-class battery technology offers numerous unique features for plug-in electric vehicles including: higher energy density than traditional lithium-ion HEV cells while having one of the highest power to weight ratio of commercially available batteries; low impedance growth even at very high charge and discharge rates ; outstanding calendar life; novel design that withstands extreme shocks and vibration; excellent performance over a wide temperature range; and an intrinsically safe chemistry which is especially important in large batteries.
A123Systems will be working closely with its partner Cobasys, a joint venture between Chevron Technology Ventures LLC, a subsidiary of Chevron Corp. and Energy Conversion Devices, Inc., which will provide its expertise in battery pack design and integration to deliver a complete system as Tier 1 supplier to General Motors.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
January 4, 2007
GM to use A123 Batteries for Saturn Vue Plug-In Hybrid Development ProgramOrion, MI and Watertown, Mass. - January 3, 2007 Cobasys and A123Systems announced today that they have signed a memorandum of understanding to enter into a partnership to develop, manufacture, sell, and service lithium-ion energy storage systems for hybrid electric vehicle (HEV) applications. The scope of the agreement will include joint development, marketing and supply of A123Systems nanophosphate lithium batteries and Cobasys systems integration and manufacturing of battery systems for HEV markets.
To support customer programs in transportation markets, Cobasys will act as the tier one supplier providing the technical assistance and expertise for the design and development of battery system products including: packaging, thermal management, wiring, electronics and control algorithms. Cobasys will help develop the requirements and specifications to meet the integration needs of customers and partners and will provide the validation testing of fully integrated lithium battery systems. A123Systems will manufacture and supply its automotive-class nanophosphate Lithium Ion cells and technology.
“We are excited to have A123Systems as a partner,” stated Thomas S. Neslage, Cobasys President & CEO. “The agreement to unite Cobasys system expertise with proven A123Systems lithium technology further exemplifies our vision to be recognized as the world’s most admired energy storage integration solutions company.”
This initiative will complement Cobasys' strong current production battery system product offerings with A123Systems lithium technology allowing its customers expanded choices for hybrid electric vehicle programs.
“We look forward to working with Cobasys to introduce lithium-ion into the automotive market,” said David Vieau, A123Systems President and CEO. “This partnership will provide the market with game changing performance to further accelerate the adoption of hybrid electric vehicles.”
“Our partnership presents an enormous range of potential benefits for the rapidly growing HEV market. We look forward to working closely with A123Systems to provide leading edge solutions to maximize the opportunity afforded by the synergy of the two companies,” said Ivan Menjak, Cobasys General Manager for Planning and Business Strategy.
About Cobasys
Cobasys designs, manufactures and integrates advanced battery system solutions for transportation markets, including Hybrid Electric Vehicles (HEV), Electric Vehicles (EV) and 36/42 Volt applications and to stationary markets, including Back-Up power supply systems for Uninterruptible Power Supply (UPS), Telecom and Distributed Generation markets.
Cobasys is a joint venture between Chevron Technology Ventures LLC, a subsidiary of Chevron Corporation (NYSE: CVX) and Energy Conversion Devices, Inc. (NASDAQ: ENER).
For more information about Cobasys, contact Ray Wagner at 248-620-5700 or visit their website at www.cobasys.com.
About A123Systems
A123Systems is one of the world’s leading suppliers of high-power lithium ion batteries. The company’s patent pending Nanophosphate™ technology enables its batteries to deliver a previously unavailable combination of power, safety and life. Applicable to a wide range of industries, A123Systems’ products remove many traditional technology constraints to provide OEMs expanded flexibility in system design. With world-class expertise and management, global manufacturing operations and one of the largest automotive lithium ion R&D teams, A123Systems’ and its Automotive Class Lithium Ion™ products are helping to accelerate platform electrification. Founded in 2001 and headquartered in Massachusetts, A123Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. A123Systems' Advanced Research & Government Solutions Division in Ann Arbor, Michigan is nationally recognized for new materials development and cutting-edge research. For additional information please visit www.a123systems.com.
January 3, 2007
Cobasys and A123Systems Announce Partnership To Develop Lithium Ion Hybrid Electric Vehicle Battery Systems-
April 28, 2008
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August 9, 2007
GM and A123Systems to Co-Develop Lithium-Ion Battery Cell for Chevrolet Volt -
February 26, 2007
President Bush Meets with A123Systems’ CEO to Discuss Advanced Batteries for Plug-In Hybrids Capable of Over 150 MPG -
January 4, 2007
GM to use A123 Batteries for Saturn Vue Plug-In Hybrid Development Program
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March 5, 2008
A123Systems Signs Production Contract for Think Electric Vehicles -
May 17, 2007
A123Systems Is Selected As Battery Supplier For BAE Systems’ Hybrid Propulsion System Which Powers The Leading Series Hybrid Bus Supplier in North America -
January 25, 2007
A123Systems Receives $40 Million Investment to Expand Product Portfolio and Scale Manufacturing of Hybrid and Plug-In Hybrid Batteries -
January 3, 2007
Cobasys and A123Systems Announce Partnership To Develop Lithium Ion Hybrid Electric Vehicle Battery Systems
Using Nanotechnology
to create the next generation
of lithium ion batteries.
A123Systems is now one of the world's leading suppliers of high-power lithium ion batteries using our proprietary Nanophosphate™ technology to deliver previously unattainable levels of power, safety and life.