A123 Systems Raises Additional $30 million

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http://thefraserdomain.typepad.com/energy/2007/10/a123systems-rai.html

October 23, 2007
A123 Systems Raises Additional $30 million

Per press release:

A123Systems, developer and producer of patent-pending Nanophosphate™ lithium ion batteries, announced that it has completed a $30 million round of funding, bringing the total capital invested in the company to $132 million.

A123Systems will use these funds to increase production capacity for new contract awards for hybrid electric, plug-in hybrid electric and extended range electric vehicle design wins with major automakers including a contract to co-develop proprietary cells for the GM E-FLEX program.

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