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© A123 Electronics Production | September 25, 2017

A123 Systems invests in solid state battery technology

A123 Systems LLC, a developer and manufacturer of lithium-ion batteries and systems, has invested in Solid Power Inc.
“A123 continues to invest in the future and is actively developing a portfolio of high energy density products to complement our historical leadership in high power solutions.” says Jeff Kessen, A123’s Vice President of Corporate Strategy. “We acted early as a series A investor to support a promising solid-state technology and look forward to the commercialisation of Solid Power’s innovations as they continue to mature.

Solid Power originated as a spin-out from the University of Colorado Boulder and was established in 2012 by a team of battery researchers and engineers. The solid-state technology enables the safe application of lithium metal anodes as a means to achieving high energy density.

Commenting on the deal, Solid Power’s CEO Doug Campbell said, “We are committed to advancing the solid-state battery industry and pushing the limits on development as a way to improve battery-powered devices such as electric vehicles, portable electronics, and other applications. The investment from A123 will help us continue to make significant strides toward large-scale commercialisation.”

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December 13 2017 10:15 PM V8.9.2-2