Saturday February 11, 2006

A123Systems receives $30m funding to develop hybrid Li-Ion batteries

greencarcongress.com -> a123systems.com :

A123Systems, developer of a new generation of Lithium-ion batteries (earlier post), announced it has completed its third round of private equity funding totaling $30 million. The current round of financing brings total investment in the company to $62 Million since its founding.

The batteries, based on proprietary nanoscale electrode technology built on research at Massachusetts Institute of Technology (MIT), promise up to 10x longer life, 5x power gains and dramatically faster charge time (more than 90% capacity in five minutes) over conventional high-power battery technology.

See also :

1. Sanyo, VW to co-develop hybrid batteries
2. GM sells assets to Toyota

(2006-02-11 07:04:40 SGT) [Energy] Permalink

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