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A123 Systems

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A123 Systems (Nasdaq: AONE)[1] develops and manufactures advanced lithium-ion (lithium iron phosphate) batteries and battery systems for the transportation, electric grid services and commercial markets. The company has 1,700 employees and is headquartered in Watertown, Massachusetts.[2]

Founded in 2001 by Dr. Yet-Ming Chiang, Dr. Bart Riley and Ric Fulop, A123 Systems’ proprietary nanoscale electrode technology is built on Massachusetts Institute of Technology research.

Major shareholders in the publicly traded company include General Electric, Alliance Bernstein, Sequoia Capital, North Bridge Venture Partners, CMEA Ventures, FA Technology Ventures, OnPoint, Massachusetts Institute of Technology, Motorola, Qualcomm, and Procter & Gamble's Duracell division.

In 2009, the company was included on the Guardian's "Global Cleantech 100" list.[2]

History

President Bush with Dave Vieau, A123 Systems CEO at the White House, examining a Prius converted to plug-in hybrid with Hymotion technology.

In November 2005, A123 Systems announced a new higher power, faster recharging lithium-ion battery system[3] based on doped nanophosphate materials licensed from MIT.

The company mass produces a variety of battery cells being used in DeWalt power tools, aircraft engine starters, hybrid vehicles, electric vehicles, and PHEV conversions.

In December 2006, the United States Advanced Battery Consortium (USABC) in collaboration with the U.S. Department of Energy (DOE) awarded the company a $15 million development contract to optimize A123 Systems' proprietary doped Nanophosphate battery technology for hybrid electric vehicle applications with a focus on power, abuse tolerance, durability and cost. USABC is an organization composed of Daimler Chrysler Corporation, Ford Motor Company, and General Motors Corporation.

On February 26 2007, A123 Systems' President David Vieau met with President George W. Bush and Energy Secretary Samuel Bodman at the White House to inspect a Battery Range Extender Module that can be easily installed in the spare tire well of most hybrid vehicles. This would enable current hybrid models to become plug-in hybrids capable of 150 or more miles per gallon. The module's battery can be replaced easily and in much less time than recharging it, as a means to extend vehicle range.

On May 2007, BAE Systems announced that, starting in 2008, it would offer A123 Systems' lithium-ion battery technology as part of its HybriDrive Propulsion System used in the 2008 version of the Daimler Orion VII hybrid electric buses. As of September 3, 2009, more than 2,000 of the buses were in service.[4]

On August 2007, General Motors announced plans to co-develop lithium-ion battery cells for the Chevrolet Volt with A123 Systems.

On March 5, 2008, General Electric, A123 Systems, and Think Global announced that the three firms had entered a partnership to enable global electrification of transportation. GE invested USD 4 million in Think and USD 20 million in A123 Systems to help A123 roll out batteries for Think. A123 Systems and Think at the same time signed a commercial supply agreement. The partnership was announced at the 78th annual international Motor Show in Geneva.[5][6][7]

On August 2008, the Company filed a registration statement for a proposed initial public offering.

On January 2009, the company announced that it had applied to the U.S. Department of Energy's Advanced Technology Vehicles Manufacturing Loan Program (ATVMLP) for US $1.84 billion in direct loans to support the construction of new lithium-ion battery manufacturing facilities in the United States, locating the first plant in southeast Michigan near Detroit.[8] The company later won a $250 million grant to build that production facility.

In April 2009, Chrysler LLC announced a contract with A123 to supply batteries to their Envi (automobile) batteries.[9]

The company raised $380 million going public on the NASDAQ stock exchange with ticker symbol AONE on Wednesday, September 23, 2009 priced at $13.50 per share.[10]

Applications

A123 Systems develops and manufactures advanced batteries and battery systems for the transportation, electric grid services and commercial markets.

Transportation

A123 Systems cells have garnered considerable interest in the automotive market due to their unique combination of power, safety and durability.[11] Automakers and heavy duty vehicle manufacturers are developing vehicles using A123 Systems cells. A123 Systems sells batteries at the cell, module, and complete systems level, designing and manufacturing battery systems for Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs) and Electric Vehicles (EVs).

Passenger Vehicles

  • Fisker: passenger PHEV[4]
  • Tokyo, Japan taxis. Better Place is running a demonstration project with three electric taxis powered by A123 Systems batteries.[12]
  • Hymotion is A123's after-market Plug-in Conversion Module that convert a Prius to a Plug-in Hybrid. This product is sold direct to consumer through a network of certified installers.

Commercial Truck, Bus, and Off-Highway

Racing

  • Killacycle, the worlds quickest electric vehicle capable of accelerating from 0–100 kilometres per hour (0–62 mph) in less than 1 second.[13]

Electric Grid

A123 has installed Smart Grid Stabilization Systems (SGSS) for frequency regulation on the grid with power company AES Corp.[6]

Commercial

Black & Decker uses A123 systems batteries in its VPX and DeWalt power tool lines.[14]


Electronics manufacturers in the radio control hobby industry have adopted A123 technology into their receiver battery packs and ignition modules. The availability constitutes a "safer" option to the current lithium-ion and lithium polymer packs as well as NiCd and NiMH cells.

The cells operate at 3.3 Volts per cell and are usually set in series to develop 6.6 V per pack. They can be charged and discharged at high rates. Lithium polymer pack charge times can exceed one hour. A123 packs can require less than 20 minutes. A123 cells eliminate the need for voltage regulators in some applications.

A123 batteries lack a charge meter, so there is no way to tell how much charge remains. Voltage drop-off is much faster than lithium polymer. Some manufacturers make milliamp meters to judge how much of the total mAh has been used.

Investments

The company has invested in Fisker Automotive's Karma with Ace Investments and Kleiner Perkins Caufield & Byers.[15]

The company has formed a joint venture with Shanghai Automotive to manufacture its batteries in China.[16]

See also

References

  1. ^ http://evworld.com/currents.cfm?jid=23
  2. ^ a b Global Cleantech 100 The Guardian, 8 September, 2009.
  3. ^ Green Car Congress: A123 Systems Launches New Higher-Power, Faster Recharging Li-Ion Battery Systems
  4. ^ "Daimler Buses North America Crests 3,000 Hybrid Bus Sales Mark". September 3, 2009. Retrieved May, 2010. {{cite web}}: Check date values in: |accessdate= (help)
  5. ^ GE press release [1]
  6. ^ Think press release [2]
  7. ^ A123 Systems press release [3]
  8. ^ http://www.renewableenergyworld.com/rea/news/story?id=54461
  9. ^ http://www.autobloggreen.com/2009/04/06/chrysler-to-use-a123-cells-in-its-electric-vehicles/
  10. ^ http://money.cnn.com/2009/09/24/news/companies/a123_ipo/index.htm
  11. ^ http://liionbms.com/php/cells.php#a123
  12. ^ Umali, Claire M. (April, 29 2010). "In Tokyo, taxis are going electric too". Retrieved May, 2010. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  13. ^ "The KillaCycle - New World Motorcycle Speed Record". Retrieved May, 2010. {{cite web}}: Check date values in: |accessdate= (help)
  14. ^ http://www.technologyreview.com/read_article.aspx?id=20570&ch=specialsections&sc=batteries&pg=3
  15. ^ "$ 115 million private funding hastens Fisker Karma's development". January 18, 2010. Retrieved May, 2010. {{cite web}}: Check date values in: |accessdate= (help)
  16. ^ Abuelsamid, Sam (December 21, 2009). "A123 Systems and Shanghai Automotive form battery JV". Retrieved May, 2010. {{cite web}}: Check date values in: |accessdate= (help)
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