a123 gets $249m in stimulus funding - lithium ion battery for solar street light
Watertown lithium
Ion battery maker a123 systems received $0. 249 billion in federal stimulus funding yesterday, and the company said it would build factories to build hightech lithium-ion batteries.
A123 previously received $100 million in economic incentives from the Michigan Economic Development Company to build a factory in Livonia, Michigan.
The company said it would be the first facility to be built with federal funds.
The money is included in $2.
The Obama administration announced $4 billion yesterday, of which $1.
The battery industry accounts for 5 billion of the total.
Ford Motor won other awards.
Chrysler Group Limited and General Motors
To encourage the development of automotive battery technology, the company will share more than $0. 6 billion in shares.
Boston, another Massachusetts battery maker, is not included. Power Inc.
In Westborough, the company is seeking at least $100 million in federal and state grants to fund a factory in Auburn. Boston-
Power operates two factories in Asia to produce batteries for computer maker HewlettPackard Co.
It is hoped that the new factory will produce laptops, cars and military batteries. Boston-
Christina Lampe, president of power-
If the company is funded by the federal government, it will create about 600 jobs in Massachusetts, according to Jonathan.
"I must admit that I am very disappointed," she said . "Boston-
Power rented a 455,000 in Auburn-square-
The former distribution center in the basement of retailer Filene, which plans to transform it into a factory to produce swing batteries for cars.
Lampe-"lease depends on federal funds"Önnerud said.
"We just learned about this as much as you do, so we need to sit down and reflect a little bit and see what options we have. ’’Boston-
She said that if other federal grants were made, electricity companies could still eventually build an MIT plant.
Ian Bowles, Massachusetts Minister of Energy and Environmental Affairs, said funding for A123 would create 100 to 300 engineering and science jobs in the state.
"We are happy that there will be some important ancillary benefits in Massachusetts," he said . ".
"The main message is ,[
Obama administration
Mainly focused on the automotive market, there are a lot of other advanced battery markets, and given the current state of the US automotive industry, I don't think it's surprising that they focus there.
An A123 spokesman declined to comment yesterday, saying the company expects a "silent period" ahead of its initial public offering ".
The company has signed an agreement with Chrysler Limited to provide batteries for the manufacturer's electric vehicle range.
Only one of the grant recipients announced yesterday was the other group in Massachusetts: The National Fire Society in Quincy, which received $4. 4 million.
Sean Sposito can be reached at ssposito @ globe. com.