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

Leti IEDM 2016 Paper Clarifies Correlation between Endurance, Window Margin and Retention in RRAM for First Time: Paper Presented at IEDM 2016 Offers Ways to Reconcile High-cycling Requirements and Instability at High Temperatures in Resistive RAM December 6th, 2016

Tokyo Institute of Technology research: 3D solutions to energy savings in silicon power transistors December 6th, 2016

Physicists decipher electronic properties of materials in work that may change transistors December 6th, 2016

Infrared instrumentation leader secures exclusive use of Vantablack coating December 5th, 2016

Govt.-Legislation/Regulation/Funding/Policy

Physicists decipher electronic properties of materials in work that may change transistors December 6th, 2016

Construction of practical quantum computers radically simplified: Scientists invent ground-breaking new method that puts quantum computers within reach December 5th, 2016

Shape matters when light meets atom: Mapping the interaction of a single atom with a single photon may inform design of quantum devices December 4th, 2016

Research Study: MetaSOLTM Shatters Solar Panel Efficiency Forecasts with Innovative New Coating: Coating Provides 1.2 Percent Absolute Enhancement to Triple Junction Solar Cells December 2nd, 2016

Announcements

Leti IEDM 2016 Paper Clarifies Correlation between Endurance, Window Margin and Retention in RRAM for First Time: Paper Presented at IEDM 2016 Offers Ways to Reconcile High-cycling Requirements and Instability at High Temperatures in Resistive RAM December 6th, 2016

Tokyo Institute of Technology research: 3D solutions to energy savings in silicon power transistors December 6th, 2016

Physicists decipher electronic properties of materials in work that may change transistors December 6th, 2016

Infrared instrumentation leader secures exclusive use of Vantablack coating December 5th, 2016

Automotive/Transportation

'Back to the Future' inspires solar nanotech-powered clothing November 15th, 2016

Nanocellulose in medicine and green manufacturing: American University professor develops method to improve performance of cellulose nanocrystals November 7th, 2016

Diamond nanothread: Versatile new material could prove priceless for manufacturing: Would you dress in diamond nanothreads? It's not as far-fetched as you might think November 3rd, 2016

Hybrid nanostructures hold hydrogen well: Rice University scientists say boron nitride-graphene hybrid may be right for next-gen green cars October 25th, 2016

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

Novel Electrode Structure Provides New Promise for Lithium-Sulfur Batteries December 3rd, 2016

A Phone That Charges in Seconds? UCF Scientists Bring it Closer to Reality November 21st, 2016

'Back to the Future' inspires solar nanotech-powered clothing November 15th, 2016

Vesper a Finalist for Two ACE Awards: Ultimate Products and Innovator of the Year -- Industry’s first piezoelectric MEMS microphone and Vesper CTO Bobby Littrell recognized for prestigious electronics-industry awards November 10th, 2016

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