Watertown, MA 02472
Highlights: 2200 employees, $24 million revenues, “green technology”
A123 Systems makes advanced lithium-ion battery technology for the transportation, power grid, and commercial/industrial products industries. The company was founded in 2001 based on novel nanoscale technology initially developed at the Massachusetts Institute of Technology, but the road to commercial success was paved in 2002 when A123 was awarded a $100,000 SBIR grant.
At that time, lithium-ion batteries could not meet the Department of Energy’s targets for electric or hybrid-electric vehicles. Specifically, the existing technology could not meet the energy and power density requirements while remaining low cost, safe under abusive conditions, and environmentally benign. A123’s breakthrough Nanophosphate™ lithium-ion battery chemistry showed tremendous promise as a game changing solution that could meet all of these criteria...