Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > A123Systems Awarded $100 Million in Refundable Tax Credits from Michigan Economic Development Corporation

Abstract:
Livonia Named as One of the Initial Sites for New Lithium Ion Battery Mass Production Facilities

A123Systems Awarded $100 Million in Refundable Tax Credits from Michigan Economic Development Corporation

WATERTOWN, MA | Posted on April 14th, 2009

A123Systems announced today it has secured more than $100 million in refundable tax credits from the state of Michigan and has selected Livonia as one of the sites where it is planning to base new production plants. The refundable tax credits issued by the Michigan Economic Development Corporation (MEDC) will help implement A123's existing strategy to establish Michigan as the manufacturing hub to meet demand from its growing global automotive customer portfolio, which includes the recently announced Chrysler partnership, several other automotive manufacturers and 19 vehicle models -- ranging from hybrid electric vehicles to electric vehicles.

This announcement follows the designation of A123Systems as a Michigan Center of Energy Excellence. In November, the company was granted $10 million by the state to create a research and development institution focused on advanced lithium-ion batteries for the automotive, defense and alternative energy markets. The Center will be based at the Livonia production facility and work in collaboration with the University of Michigan and Michigan State University on joint research, system design and performance measurement projects.

A123Systems first invested in Michigan when it acquired Ann Arbor based T/J Technologies in 2006. The company later expanded operations by establishing an automotive engineering team that is currently located in a facility in Novi.

"Today is truly a milestone for A123Systems, the state of Michigan and everyone interested in creating new markets where American innovation creates sustainable job growth in engineering, research and manufacturing," said David Vieau, A123Systems' president and chief executive officer. "With the support of the state's leadership and highly-skilled workforce, we expect that our planned new facilities in Michigan will serve as a global product center, powering a new generation of cleaner, more fuel efficient cars and trucks."

In the last month alone, A123 announced a strategic partnership with Chrysler to supply battery cells and systems for Chrysler's ENVI line of range-extended and battery-only electric vehicles expected to launch next year, and will produce battery cells for Shanghai Automotive Industry Corporation (SAIC), the manufacturer of China's first hybrid electric vehicle. To meet this growing demand, A123Systems will continue its efforts to forge strategic partnerships with both private and public organizations to advance the company's goal of creating an advanced battery ecosystem in the U.S.

"Today's recognition of this Michigan-based partnership represents tremendous forward thinking by the government, and demonstrates how government can greatly affect the development of - and costs associated with - this type of advanced technology," said John Bozzella, Senior Vice President - External Affairs and Public Policy, Chrysler LLC. "Chrysler is proud to participate in this effort that will bring high-technology jobs to Michigan, and will help solidify American innovation in electric vehicles - ultimately leading to more advanced fuel-efficient vehicles for the American consumer and the environment."

A123 was born out of the research labs of the Massachusetts Institute of Technology and was funded initially with a $100,000 grant from the US Department of Energy in 2001. Among the companies using A123 batteries, battery systems and technology in the fields of transportation, grid energy storage and portable power are AES, BAE Systems, Better Place, Black and Decker, Cessna, Chrysler, Daimler, Delphi, Duke Energy, General Motors, Google.org, LADWP, Madison Gas and Electric, Magna Steyr, Mercedes Benz High Performance Engines, Procter and Gamble, Sempra and Volvo Truck.

####

About A123Systems
A123Systems develops and manufactures advanced lithium-ion batteries and battery systems for the transportation, electric grid services and portable power markets. Founded in 2001 and headquartered in Massachusetts, A123 Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology.

For more information, please click here

Contacts:
For A123Systems
Media Contact:
Steve Roy, 212-819-4869

or
Job Inquiries:
Visit www.a123systems.com/company and click Careers
or
General Inquiries:
Submit in writing to

Copyright © Business Wire 2009

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Two-dimensional melting of hard spheres experimentally unravelled after 60 years: First definitive experimental evidence of two-dimensional melting of hard spheres April 21st, 2017

National Conference on Nanomaterials, (NCN-2017) April 21st, 2017

NanoMONITOR shares its latest developments concerning the NanoMONITOR Software and the Monitoring stations April 21st, 2017

Nanomechanics, Inc. Unveils New Product at ICMCTF Show April 25th: Nanoindentation experts will launch the new Gemini that measures the interaction of two objects that are sliding across each other – not merely making contact April 21st, 2017

Govt.-Legislation/Regulation/Funding/Policy

NanoMONITOR shares its latest developments concerning the NanoMONITOR Software and the Monitoring stations April 21st, 2017

Better living through pressure: Functional nanomaterials made easy April 19th, 2017

Nano-SPEARs gently measure electrical signals in small animals: Rice University's tiny needles simplify data gathering to probe diseases, test drugs April 17th, 2017

Emergency Use Authorization for Gene-RADAR® Zika Virus Test: FDA Authorization for the Gene-RADAR® Zika Virus Test on the XPRIZE-Winning Gene-RADAR® Platform April 14th, 2017

Announcements

Two-dimensional melting of hard spheres experimentally unravelled after 60 years: First definitive experimental evidence of two-dimensional melting of hard spheres April 21st, 2017

National Conference on Nanomaterials, (NCN-2017) April 21st, 2017

NanoMONITOR shares its latest developments concerning the NanoMONITOR Software and the Monitoring stations April 21st, 2017

Nanomechanics, Inc. Unveils New Product at ICMCTF Show April 25th: Nanoindentation experts will launch the new Gemini that measures the interaction of two objects that are sliding across each other – not merely making contact April 21st, 2017

Automotive/Transportation

Making Batteries From Waste Glass Bottles: UCR researchers are turning glass bottles into high performance lithium-ion batteries for electric vehicles and personal electronics April 19th, 2017

BASF and Landa partner to create revolutionary pigments for automotive coatings: The alliance combines BASF innovations with Landa nano-pigment technology April 5th, 2017

ATTOPSEMI Technology Joins FDXcelerator Program to Deliver Advanced Non-Volatile Memory IP to GLOBALFOUNDRIES 22 FDX® Technology Platform: Leading-edge I-fuse™ brings higher reliability, smaller cell size and ease of programmability for consumer, automotive, and IoT applications March 27th, 2017

Promising results obtained with a new electrocatalyst that reduces the need for platinum: Researchers from Aalto University have succeeded in manufacturing electrocatalysts used for storing electric energy with one-hundredth of the amount of platinum that is usually needed March 24th, 2017

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Forge Nano 2017: 1st Quarter Media Update April 20th, 2017

Making Batteries From Waste Glass Bottles: UCR researchers are turning glass bottles into high performance lithium-ion batteries for electric vehicles and personal electronics April 19th, 2017

Bio-inspired energy storage: A new light for solar power: Graphene-based electrode prototype, inspired by fern leaves, could be the answer to solar energy storage challenge April 2nd, 2017

Argon is not the 'dope' for metallic hydrogen March 24th, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project