Lithium ion battery maker
The company declined to comment, but the valuation makes A123 the most capitalized private company in the next-generation battery space.
The round consisted entirely of return backers, including
A123 has now raised $132 million, and would seem poised for a public market appearance. As investor Howard Anderson said in January: “There is not a better IPO candidate in all of New England than A123.”
The Watertown, Mass.-based company recently inked a deal with General Motors to develop batteries for the Chevy Volt, and also agreed to help power BAE Systems’ HybriDrive propulsion systems. It also has deals to provide batteries for Black & Decker power tools, Saturn Vye hybrid vehicles and battery packs worn by U.S. Army soldiers. —Dan Primack