P1: OTA/XYZ P2: ABC
c08 JWBT144/Gordon August 27, 2009 15:23 Printer Name: Courier Westford, Westford, MA
Build Your Fortune as a Techno-preneur
2007: A123Systems received $40 million investment to expand
product portfolio and scale manufacturing of hybrid and plug-in
hybrid batteries.
2007: A123Systems completed the acquisition of Hymotion, Inc.,
the leading fabricator of aftermarket plug-in hybrid modules.
2007: A123Systems reached agreement to supply lithium-ion engine
start batteries to Cessna Aircraft Company for their Citation fleet
of aircraft.
2008: A123Systems filed a registration statement for a proposed ini-
tial public offering (IPO) with the Securities and Exchange Com-
mission. This is a testimonial to the rapid growth expectations of
the company.
2009: A123Systems announced plans to build U.S.-based lithium-
ion battery mass production facilities.
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By 2009, A123Systems, a Watertown, Massachusetts, corporation with
2,000 employees, was traveling at warp speed. Annual revenues for 2008 were
$68 million. The company has a growing customer base of prestigious com-
panies that are hungry for clean, high-energy-density storage. A123Systems
currently has manufacturing facilities in Massachusetts, Detroit, Korea,
and five locations in China—with more locations slated to open. Their
state-of-the art energy storage systems are poised to dominate several
markets, including power tools, portable electronics, clean transportation,
and smart power grid management.
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These remarkable things were achieved ...