A123 Systems, the part of the company that was taken over by Wanxiang America following Chapter 11 Bankruptcy, is showing its own identity away from the previous A123 with the formation of a new division called A123 Venture Technologies. This portion of the company will be dedicated to developing innovative energy storage products with partner companies.
It will assist companies that need a readily available infrastructure to mature technologies and make them commercial by allowing access to A123’s R&D testing labs in Massachusetts and Michigan. By enabling products to be scaled up to a commercial level, they can be brought to the market faster. A123 is also offering investment in initiatives from its private equity and venture capital funds.
“We are excited about the launch of A123 Venture Technologies as a new business model designed to accelerate the market introduction of game changing technologies. By leveraging our experience and capabilities, our strategic partners can shorten their time to market, while also mitigating risk and minimising capital expenditures,” said Mujeeb Ijaz, Chief Technology Officer at A123 Systems.
A123 Systems wants to collaborate with other companies to accelerate the energy storage market. A123 has previous experience scaling up university research to a global, high-volume production stage by offering a combination of technical, manufacturing, and market knowledge.