A123Systems
A123Systems Awarded $249M Grant from U.S. Department of Energy to Build Advanced Battery Production Facilities in the United States
Published in Healthcare Finance, Tax and Law Weekly, August 19th, 2009
A123Systems announced that it was awarded a $249 million grant from the U.S. Department of Energy's (DOE) Electric Drive Vehicle Battery and Component Manufacturing Initiative. Under the terms of the $249 million grant, A123 will be required to match the funds over time as they are used. This grant is an important part of A123's U.S. manufacturing strategy, which also includes an application for a loan from the Department of Energy's Advanced Technology Vehicles Manufacturing (ATVM) program. The grant will be used to help implement A123's strategy for the construction of world-class lithium ion battery manufacturing facilities in the United States, with the first construction location in...
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