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A123Systems Awarded $249M Grant from U.S. Department of Energy to Build Advanced Battery Production Facilities in the United States.

Publication: Biotech Week
Publication Date: 19-AUG-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
A123Systems announced that it was awarded a $249 million grant from the U.S. Department of Energy's (DOE) Electric Drive Vehicle Battery and Component Manufacturing Initiative. Under the terms of the $249 million grant, A123 will be required to match the funds over time as they are used. This grant is an important part of A123's U.S. manufacturing strategy, which also includes an application for a loan from the Department of Energy's Advanced Technology Vehicles Manufacturing (ATVM) program. The grant will be used to help implement A123's strategy for the construction of world-class lithium ion battery manufacturing facilities in the United States, with the first construction location in Livonia, Michigan (see also A123Systems).

The DOE grant supports A123Systems' commitment to creating a complete U.S. battery manufacturing industry, keeping each element of the process - intellectual property development, component production and final...

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