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A123Systems Raises $20 Million New Financing

Thursday, March 06, 2008 5:40:00 AM PDT | VentureDeal Staff

WATERTOWN, MA -- Battery technology company A123Systems announced that it has received $20 in additional venture capital financing.

A123Systems has developed a new generation of lithium-ion batteries that promise to deliver a higher level of power and safety than previous batteries.  The company is providing its batteries to Norwegian electric car company Think.

GE Energy Financial Services made the investment.  The company said it would use the funding proceeds to pursue continued product development in concert with GE and Think.

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