A123Systems wants to give the Energizer Bunny a run for his money. And it plans to use rechargeable lithium-ion batteries to do it. The vertically integrated company designs, makes, and sells rechargeable batteries and battery systems used primarily in the electricity and portable power markets. Portable power, for home appliances, power tools, and consumer electronics, makes up a majority of sales, but A123 is targeting the fast-growing electric and hybrid electric vehicle market. It also participates with AES to develop multi-megawatt battery systems that would take the fluctuations out of the electricity grid and provide backup power during shortages. A123 was formed in 2001 and filed to go public in 2008. [Description from Hoover's]
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Audience Also Likes
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