Michigan, USA — A123 Systems Inc., the electric car battery maker that received a $249 million federal grant, filed for bankruptcy protection after failing to make a debt payment that was due yesterday. The filing may fuel further political debate over government financing of alternative-energy and transportation businesses. Federal grants …
A123 Systems becomes America''s latest EV battery maker to ...
Having been riddled with setbacks, including a major recall of faulty batteries supplied to Fisker Automotive, Michigan''s favorite EV battery maker A123 Systems has filed for bankruptcy. It has ...
A company that charged up the US battery industry with its lithium-ion technology has gone dead. After an 11-year run, A123 Systems filed for bankruptcy on 16 October. For insiders, the news is no ...
Battery firm bankruptcy comes after bipartisan funding under both …
Battery manufacturer A123 Systems, which got nearly $250 million in grant money under President Barack Obama''s 2009 stimulus program, filed for Chapter 11 bankruptcy protection Tuesday morning ...
It''s Wanxiang or bankruptcy for A123 Systems as the companies …
The agreements cover a set of loans, senior convertible notes, and stock warrants, that if fully executed would total $465 million and leave Wanxiang with an 80% ownership stake in A123 Systems.
A123 Systems wins court approval of bankruptcy loan
A123 Systems, the US electric-car battery maker that filed for bankruptcy this week, won court approval to borrow as much as $15.5 million from Johnson Controls while it prepares to sell its assets.. US Bankruptcy Judge Kevin Carey approved the interim financing at a hearing today in Wilmington, Delaware, after Johnson Controls …
Auction for A123 Systems Won by Wanxiang Group of China
Dec. 9, 2012. DETROIT — Wanxiang Group, a large Chinese auto parts maker, won a high-stakes auction on Sunday for assets of A123 Systems, the bankrupt American battery maker that was a ...
A123''s Bankruptcy Reignites Obama''s Green Critics : NPR
A123 Systems has filed for bankruptcy. The company makes lithium ion batteries for hybrid and electric cars — or it did. The company''s automotive assets are being sold, and the bankruptcy filing ...
Bankrupt Battery Maker A123 Systems Agrees to Sell ...
The Economy. Bankrupt Battery Maker A123 Systems Agrees to Sell Assets to Johnson Controls. Oct. 17, 2012. A123 Systems Inc. said it has agreed to sell its assets to Johnson Controls Inc. (IW 500/33) for $125 million. Waltham, Mass.-based A123, which reported a net loss of $258 million for full-year 2011, also said it has secured nearly …
Embattled Battery Co. A123 Systems Charged With $2M Lien in …
A123 Systems LLC, a Michigan-based energy storage manufacturer and developer, was hit with a $2,079,519 construction lien on July 15. ... A123 Bankruptcy and Layoffs. A123 is not inexperienced when it comes to legal actions on financial liabilities. In October 2012, facing quality concerns as well as the business failure of one of its prime ...
Battery maker A123 Systems, a one-time darling of the U.S. electric car industry and recipient of millions in government funding, filed for Chapter 11 bankruptcy Tuesday. The filing...
Electric Vehicle Battery Maker B456, Formerly A123, Receives …
The modified first amended joint plan of liquidation of B456 Systems Inc. (formerly A123 Systems Inc.) and its two debtor-affiliates was confirmed on May 20 by the U.S. Bankruptcy Court for the District of Delaware (In re B456 Systems Inc., Bankr. D. Del., No. 12-12859 (KJC)). The Waltham, Mass.-based debtors were founded in 2001 as …
A company that charged up the US battery industry with its lithium-ion technology has gone dead. After an 11-year run, A123 Systems filed for bankruptcy on …
Battery-Maker A123''s Bankruptcy Underscores Hurdles for Clean …
The bankruptcy filing this week of U.S. government-backed battery maker A123 Systems demonstrates the challenges of developing clean energy technology in a still-evolving market.
The rebirth of A123 Systems: Not another Solyndra after all.
A123''s headlong rush toward bankruptcy in the summer of 2012 was a disaster on many fronts. The filing came right in the middle of an election campaign, in which Solyndra was a three-syllable ...
A123 Systems, the lithium-ion battery maker backed by a $249 million U.S. government grant, filed for bankruptcy on Tuesday, prompting Republican Mitt Romney''s presidential campaign to accuse the ...
Energy-backed firms award bonuses, file bankruptcy
Two other Ener1 executives pocketed bonuses of $225,000 and $50,000 for a total payout of $725,000. In January 2012, one year after Biden''s visit, Ener1 filed for bankruptcy, citing $73.9 million in assets and $90.5 million in debts. Energy officials noted that while the bonuses were paid to executives from Ener1, the government grant went to ...
About the A123 demise and bankruptcy: Tech failure or business …
The rise and fall of A123 Systems has been something of great interest to me and to ACerS, in no small part because of the important role one of our members, Yet-Ming Chiang, has had in the enterprise. ... Johnson Controls eventually became A123''s suitor-of-choice when bankruptcy became the only option, but the bankruptcy judge so …
Battery maker A123 Systems files for bankruptcy | Reuters
A123 Systems, the lithium-ion battery maker backed by a $249 million U.S. government grant, filed for bankruptcy on Tuesday, prompting Republican Mitt …
A123 Systems veers from Wanxiang to Johnson Controls and bankruptcy ...
To facilitate the deal, A123 Systems filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. Other parties may be able to broker a better deal for ...
A123''s battery component facility in Romulus, Mich. A123 Systems, a maker of lithium iron phosphate batteries for electric vehicles, has filed for bankruptcy in Delaware federal court and ...
Battery Maker A123 Systems Files for Bankruptcy | ABI
Battery Maker A123 Systems Files for Bankruptcy. Wednesday, October 17, 2012. Please note that in order to view the content for the Bankruptcy Headlines you must either sign in if you are already an ABI member, or otherwise you may Become an ABI Member.
Battery maker A123 files for bankruptcy protection
October 16, 2012 at 7:06 PM. DETROIT (AP) -- After years of struggling in the nascent market for electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection Tuesday. The filing drew criticism from Republicans who claim the Obama administration has wasted millions of taxpayer dollars on alternative energy companies like A123.
October 16, 2012 / 4:48 PM EDT / CNET. (CNET) NEW YORK A123 Systems, a lithium-ion battery maker that has received hundreds of millions in government support, filed for bankruptcy protection today ...
Electric Vehicle Battery Maker B456, Formerly A123, Receives …
Electric Vehicle Battery Maker B456, Formerly A123, Receives Plan Confirmation. The modified first amended joint plan of liquidation of B456 Systems Inc. …
A123 Systems Files for Bankruptcy | MIT Technology …
October 16, 2012. Once the darling of the clean-tech industry and a leading success story in the revival of advanced battery manufacturing in the United States, A123 Systems has announced that it ...
Why did A123 Systems go to bankruptcy? The naysayers are WRONG
Today A123 Systems announced a Chapter 11 bankruptcy and sale of the company''s automotive business assets to Johnson Control. This is the beginning of the end for the company that was formerly the darling of the green technology hype machine. The company has developed some amazing battery technology, but ran into two serious …
DETROIT — The troubled battery maker A123 Systems filed for bankruptcy on Tuesday, dealing a blow to the Obama administration''s program to jump-start a domestic battery industry and …
