Car battery maker A123 scores $15M more from GE
A123 Systems, maker of lithium-ion batteries — primarily for hybrid and electric cars — has nabbed another $15 million in funding from General Electric, marking the seventh time the conglomerate has invested in the capital-rich startup. This brings the total of A123’s recent round of financing to $69 million.
The Watertown, Mass.-based company says it plans to use the money to construct battery factories in Michigan close to its key automotive clients. These days, it’s rare… Continue Reading
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