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

28 October 2009

Li-ion battery maker A123 Systems and IHI Corporation 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.

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 more than 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 turbocharger 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. 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.

—David Vieau, A123 Systems’ president and CEO