Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > A123 Systems and IHI Corporation Sign Joint Marketing Agreement to Develop Advanced Battery Technology Business in Japan

Abstract:
A123 Systems (Nasdaq:AONE) and IHI Corporation (TYO:7013) announced today that they have entered into a collaborative business development agreement to serve potential customers in the Japanese transportation, industrial and marine markets. Under the terms of a joint marketing agreement, the two companies will pursue new customer opportunities in energy storage in the Japanese market.

A123 Systems and IHI Corporation Sign Joint Marketing Agreement to Develop Advanced Battery Technology Business in Japan

Watertown, MA & Tokyo | Posted on October 28th, 2009

IHI is one of the largest heavy industry equipment makers in Japan with long-standing business operations in the automotive, utilities, marine and aerospace industries. With over 24,000 employees around the world and over 155 years of history, IHI customers include major Japanese car makers Toyota, Honda, Nissan, Mazda, Suzuki and Mitsubishi. The company is a tier one turbo charger supplier to truck and auto makers all over the world.

"We are very pleased to have found such a strong partner in IHI as we begin to identify a portfolio of energy storage business opportunities in the Japanese market," said David Vieau, A123 Systems' president and chief executive officer. "We believe their confidence in our technology is another important validation of both our product offerings and our business strategy as a vertically integrated supplier of lithium ion batteries and battery systems. We continue to
diversify our business pipeline by designing and producing products for multiple customer applications and can now more efficiently bring these technologies to the important Japanese market."

"Our collaboration with A123 is a significant step forward in our commitment to the application of technology that can help reduce carbon emissions. We believe that A123 has excellent lithium ion battery technology and our strategic alignment will allow us to collaborate in multiple market segments and technology applications," said Kazuaki Kama, IHI Corporation's president and chief executive officer.

####

About A123 Systems
A123 Systems, Inc. (Nasdaq:AONE) develops and manufactures advanced lithium ion batteries and battery systems for the transportation, electric grid services and consumer markets. Headquartered in Massachusetts and founded in 2001, A123 was funded initially with a $100,000 grant from the U.S. Department of Energy. A123 Systems' proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. Among the companies selecting A123 batteries, battery systems and technology in the fields of transportation, grid energy storage and consumer products are Chrysler, Shanghai Automotive Industry Corporation, AES Energy Storage, LLC and The Black & Decker Corporation.

About IHI Corporation

IHI (TYO:7013), established in 1853, is a multi-national leader in providing energy and chemical plants, physical distribution systems and steel structures, aero-engine and space technology, industrial machinery, shipbuilding and marine engineering, and mass-produced machinery. With annual net sales of nearly $14 billion (U.S. dollars) and more than 24,000 employees, IHI contributes to the stable supply of electric power by providing the primary equipment for hydroelectric, thermal and nuclear power systems. In automotive industries, IHI supplies turbo chargers for automobiles and trucks, and manufacturing equipment. Visit www.ihi.co.jp

For more information, please click here

Contacts:
A123 Systems PR Contact:
Kerry Farrell
212-704-8113


A123 Systems IR Contact:
Garo Toomajanian
617-972-3450


IHI Corporation
+81-3-6204-7800

Copyright © GLOBE NEWSWIRE

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

Announcements

Geoffrey Beach: Drawn to explore magnetism: Materials researcher is working on the magnetic memory of the future April 25th, 2017

Using light to propel water : With new method, MIT engineers can control and separate fluids on a surface using only visible light April 25th, 2017

Graphene holds up under high pressure: Used in filtration membranes, ultrathin material could help make desalination more productive April 24th, 2017

Nanoparticle vaccine shows potential as immunotherapy to fight multiple cancer types April 24th, 2017

Energy

Using light to propel water : With new method, MIT engineers can control and separate fluids on a surface using only visible light April 25th, 2017

SUNY Polytechnic Institute Announces Total of 172 Teams Selected to Compete in Solar in Your Community Challenge: Teams from 40 states, plus Washington, DC, 2 Territories, and 4 American Indian Reservations, Will Deploy Solar in Underserved Communities April 20th, 2017

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

Shedding light on the absorption of light by titanium dioxide April 14th, 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

Alliances/Trade associations/Partnerships/Distributorships

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

Leti Announces EU/South Korean Project for Worlds First 5G-system Prototype: Coinciding with the 2018 Winter Games in PyeongChang, Korea, Prototype Will Be First Time State-of-the-art Terrestrial Wireless Communication Is Seamlessly Combined with Disruptive Satellite Communicati April 4th, 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

Leti and HORIBA Scientific to Host Webinar on Ultrafast Characterization Tool: Plasma Profiling Time-of-Flight Mass Spectrometer Tool Cuts Optimization Time In Layer Deposition and Fabrication of Wide Range of Applications March 27th, 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