facebook
twitter
rss
account
search
search
 

A123Systems advances lithium-ion battery

April 13, 2009 at 4:05 PM   |   Comments

WATERTOWN, Mass., April 13 (UPI) -- U.S.-based A123Systems is gaining investments to advance its development of a more efficient lithium-ion battery and smart grid.

So far the company has raised $69 million from General Electric and other investors, the company said in a news release.

The Massachusetts company was also recently chosen to power Chrysler's first generation of electric vehicles.

GE's most recent investment of $15 million is the company's seventh investment in A123, making it the company's largest cash investor.

GE's ownership stake is now more than 10 percent.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
Valerie Bertinelli speaks on female empowerment in Fresno Valerie Bertinelli speaks on female empowerment in Fresno
2
Father of five children thought they would kill him, feed him to dogs Father of five children thought they would kill him, feed him to dogs
3
Booby trap covers Austrian officer in manure Booby trap covers Austrian officer in manure
4
Crest agrees to stop putting plastic microbeads in your toothpaste Crest agrees to stop putting plastic microbeads in your toothpaste
5
Watch: Nasim Pedrad shows off uncanny Aziz Ansari impression in unaired SNL sketch Watch: Nasim Pedrad shows off uncanny Aziz Ansari impression in unaired SNL sketch
Trending News
x
Feedback