Wanxiang America Corporation to Acquire Substantially All Assets of A123 Systems for $256.6 Million

A123 Systems, a company that develops and manufactures lithium-ion batteries and battery systems for the transportation, electric grid services, and portable power markets, announced that it has reached agreement on the terms of an asset purchase agreement with Wanxiang America Corporation (“Wanxiang”) through which Wanxiang would acquire substantially all of A123’s assets for $256.6 million. This agreement was … Read more

24M Technologies Launches and Obtains $10 Million in Series A Financing

24M Technologies announced its launch on Monday as a new venture focused on commercializing next-generation energy storage systems based on technology originated at A123 Systems and further developed at the Massachusetts Institute of Technology (MIT),  This technology combines attributes of rechargeable batteries, fuel cells, and flow batteries to enable scalable cost-effective, high-energy storage systems for emerging markets, including … Read more