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A123 Systems, LLC forms A123 Venture Technologies; a new division modeled as a technology incubator
1 May 2013
Li-ion developer and manufacturer A123 Systems, LLC—now a wholly owned subsidiary of Wanxiang Group—is forming a new division called A123 Venture Technologies with the purpose of establishing strategic partnerships around game-changing energy storage initiatives. A123 Venture Technologies will assist its strategic partners needing infrastructure to mature and commercialize their technologies by providing access to A123’s world-class test and development laboratories located in Waltham and Hopkinton, Massachusetts and Romulus, Michigan.
This new business model provides strategic partners with access to early phase technology development assets as well as long term manufacturing scale up and market channels, shortening the path to commercialization. Where needed, A123 Venture Technologies will also bring funding capital needed to invest in new initiatives with its access to private equity and venture capital.
By leveraging our experience and capabilities, our strategic partners can shorten their time to market, while also mitigating risk and minimizing capital expenditures. A123’s firsthand experience scaling up university research to global, high-volume production provides an unmatched combination of technical, manufacturing, and market knowledge that makes A123 Venture Technologies’ model of collaboration far superior to the traditional “go it alone” approach to technology commercialization.—Mujeeb Ijaz, Chief Technology Officer at A123
The company says that its launch of A123 Venture Technologies is a positive step towards a lasting commitment of engagement and collaboration with the broader energy storage community of innovators; a commitment with the ultimate goal to accelerate the next generation alternatives to market by leveraging investments made by A123 over the prior decade.
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