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NEC acquires A123 Energy Solutions

Thu, 03/27/2014 - 13:06 -- Ruth Williams

Just when you thought all the acquisitions and buyouts of A123 were old news, Japan's NEC Corporation has acquired A123 Energy Solutions from Wanxiang Group for around $100m.

The acquisition relates to the portion of former A123 Systems that supplies grid-level lithium-ion energy storage systems based on A123’s lithium iron nanophospate technology.

A123 Energy Solutions will be integrated into the NEC Group of companies and, under the working name NEC Energy Solutions, will begin operation in June 2014 under the direction of NEC. The company will continue to work in the grid-connected energy storage space with plans to also look into behind-the-meter energy storage.

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