Battery company, A123 Systems, loaded with cash
Battery maker A123 Systems has secured its place as the most heavily funded battery startup, adding $30 million in its fifth round of funding.
Early this year, A123 broke $100 million. The Watertown, Mass. company, which is developing new lithium ion technology, already has some products on the market, mainly batteries for hand-held power tools. More importantly, companies like General Electric are considering its technology for use in upcoming hybrid vehicles.
A123 has shown itself to be… Continue Reading
A123Systems raises $40M more for car battery, in showdown with EEStor
A123Systems, the Watertown, Mass. company selling high-power lithium-ion batteries, said it has raised $40 million more in a fourth round of funding, bringing the total invested in the company to $102 million.
The funding comes amid increased interest by auto-makers and the public in electric cars, as the nation tries to remove itself from dependency on gasoline. The company has competitors, such as Valence, Saft and Lion Cells, a more secretive company backed by Battery Ventures… Continue Reading