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A123Systems Completes Third Round of Private Equity Funding.
A123Systems, a developer of lithium-ion (Li-ion) batteries, recently announced it has completed its third round of private equity funding totaling $30 million.
According to A123Systems, new investors in the company include GE, Alliance Capital Management and FA Technology Ventures.
A123Systems said it will use the new capital to increase manufacturing capacity, continue support for its current customer base and revenue growth, and accelerate the development of batteries for hybrid electric vehicles (HEVs).
Contact: A123Systems, website http://www.a123systems.com.
(EIN STAFF: 2/6)
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