rogwild
08-10-2008, 12:29 PM
Found these 'quotes' on another forum, don't have the original LINK, so can't vouch for them:
'''A123Systems Files for $175M IPO
The lithium-ion battery maker, which has lined up electric carmakers
and a power producer and distributor, needs money to expand its
manufacturing and R&D work.
by: Ucilia Wang August 8, 2008
'''A123Systems plans to raise up to $175 million through an initial
public offering, the company said in regulatory filings Friday.
'''The company, which is developing batteries for plug-in hybrids
and electric cars, didn't list the number of shares it plans to
offer or the price range in its filings with the U.S. Securities and
Exchange Commission. A123 hopes to trade under the symbol "AONE" on
the Nasdaq.
'''The Watertown, Mass., startup said earlier this year that it was
planning an IPO. A123 has attracted plenty of attention in the last
few years, starting in 2005, when it burst out of stealth mode with
a $32 million venture round and a deal to provide lithium-ion
batteries for Black & Decker power tools.
'''A123 raised an additional $30 million in 2006, and closed two
rounds – of $40 million and $30 million – led by General Electric
Commercial Finance in 2007, bringing its total capital to $132
million. A123 also acquired plug-in-hybrid conversion company
Hymotion last year.
'''It has made a name for itself by lining up carmakers as research
partners and customers.
'''Norwegian electric-car company Think Global in March announced a
contract to buy batteries from A123 (see Think Global to Bring
Electric Crossover to U.S.).
'''Last year, the battery maker said it would work with General
Motors to develop new lithium-ion battery cells to power the Chevy
Volt, a sporty plug-in hybrid car due out in 2010, and other GM
vehicles...
'''A123 also has a deal to sell batteries to BAE Systems for its
Hybridrive propulsion system, which Daimler is using for its Orion
VII hybrid-electric buses.
'''The company has received plenty of attention for taking orders –
and signing up dealers – for its Hymotion kits to convert Toyota
Prius cars into plug-in hybrids...The kits allow owners to charge
their vehicles at standard electrical outlets.
'''The battery market for hybrid-electric and all-electric cars
generates about $700 million in annual sales worldwide, and is
expected to increase to at least $5 billion in 2012, according to
A123's SEC filings.
'''A123, founded in 2001, entered the battery business at a time
when battery technology had remained essentially unchanged for
decades. Consumer demand for more powerful and long-lasting
batteries for, say, laptop computers and cell phones, has prompted
companies such as chipmaker Intel and Motorola to invest in battery
companies.
'''A123 has won believers out of electric utilities.
'''The company is working with AES Energy Storage, part of
Arlington, Va.-based power company AES Corp., to design battery
systems for the grid. The multi-megawatt battery systems would help
the grid meet demand, including when generator or transmission
problems occur.
'''A123 also is working with General Electric to develop batteries
to store power and help the grid meet peak demand...General Electric
has invested $20 million in A123Systems through several rounds of
funding...
'''The global market for electric-grid batteries brought in $2.4
billion in sales in 2007, and the company expects the market to grow
to $3.1 billion by 2015.
'''Sales to Black & Decker represented 82 percent of A123Systems'
revenues in 2006 and 66 percent in 2007. The market for cordless
power tools using lithium-ion batteries is expected to expand from
$411 million in 2007 to $1.1 billion by 2012, the company said.
'''A123, with more than 1,100 employees, began selling its first
commercial products in the first quarter of 2006.
'''It generated $41.3 million in revenue in 2007, up 20.4 percent
from $34.3 million in 2006, the company said in its SEC filings. It
brought in $10.3 million in revenue for the first quarter of this
year, compared with $8.1 million from the same period last year.
'''The company posted a net loss of $31 million in 2007, a 96
percent jump from a net loss of $15.8 million in 2006. For the first
quarter of this year, A123Systems reported a net loss of $13.91
million, compared with $4.59 million from the year-ago period.
'''The battery company makes its products in China, South Korea and
Massachusetts. A123Systems plans to use part of the money raised
through the IPO to expand its manufacturing centers.'''
'''A123Systems Files for $175M IPO
The lithium-ion battery maker, which has lined up electric carmakers
and a power producer and distributor, needs money to expand its
manufacturing and R&D work.
by: Ucilia Wang August 8, 2008
'''A123Systems plans to raise up to $175 million through an initial
public offering, the company said in regulatory filings Friday.
'''The company, which is developing batteries for plug-in hybrids
and electric cars, didn't list the number of shares it plans to
offer or the price range in its filings with the U.S. Securities and
Exchange Commission. A123 hopes to trade under the symbol "AONE" on
the Nasdaq.
'''The Watertown, Mass., startup said earlier this year that it was
planning an IPO. A123 has attracted plenty of attention in the last
few years, starting in 2005, when it burst out of stealth mode with
a $32 million venture round and a deal to provide lithium-ion
batteries for Black & Decker power tools.
'''A123 raised an additional $30 million in 2006, and closed two
rounds – of $40 million and $30 million – led by General Electric
Commercial Finance in 2007, bringing its total capital to $132
million. A123 also acquired plug-in-hybrid conversion company
Hymotion last year.
'''It has made a name for itself by lining up carmakers as research
partners and customers.
'''Norwegian electric-car company Think Global in March announced a
contract to buy batteries from A123 (see Think Global to Bring
Electric Crossover to U.S.).
'''Last year, the battery maker said it would work with General
Motors to develop new lithium-ion battery cells to power the Chevy
Volt, a sporty plug-in hybrid car due out in 2010, and other GM
vehicles...
'''A123 also has a deal to sell batteries to BAE Systems for its
Hybridrive propulsion system, which Daimler is using for its Orion
VII hybrid-electric buses.
'''The company has received plenty of attention for taking orders –
and signing up dealers – for its Hymotion kits to convert Toyota
Prius cars into plug-in hybrids...The kits allow owners to charge
their vehicles at standard electrical outlets.
'''The battery market for hybrid-electric and all-electric cars
generates about $700 million in annual sales worldwide, and is
expected to increase to at least $5 billion in 2012, according to
A123's SEC filings.
'''A123, founded in 2001, entered the battery business at a time
when battery technology had remained essentially unchanged for
decades. Consumer demand for more powerful and long-lasting
batteries for, say, laptop computers and cell phones, has prompted
companies such as chipmaker Intel and Motorola to invest in battery
companies.
'''A123 has won believers out of electric utilities.
'''The company is working with AES Energy Storage, part of
Arlington, Va.-based power company AES Corp., to design battery
systems for the grid. The multi-megawatt battery systems would help
the grid meet demand, including when generator or transmission
problems occur.
'''A123 also is working with General Electric to develop batteries
to store power and help the grid meet peak demand...General Electric
has invested $20 million in A123Systems through several rounds of
funding...
'''The global market for electric-grid batteries brought in $2.4
billion in sales in 2007, and the company expects the market to grow
to $3.1 billion by 2015.
'''Sales to Black & Decker represented 82 percent of A123Systems'
revenues in 2006 and 66 percent in 2007. The market for cordless
power tools using lithium-ion batteries is expected to expand from
$411 million in 2007 to $1.1 billion by 2012, the company said.
'''A123, with more than 1,100 employees, began selling its first
commercial products in the first quarter of 2006.
'''It generated $41.3 million in revenue in 2007, up 20.4 percent
from $34.3 million in 2006, the company said in its SEC filings. It
brought in $10.3 million in revenue for the first quarter of this
year, compared with $8.1 million from the same period last year.
'''The company posted a net loss of $31 million in 2007, a 96
percent jump from a net loss of $15.8 million in 2006. For the first
quarter of this year, A123Systems reported a net loss of $13.91
million, compared with $4.59 million from the year-ago period.
'''The battery company makes its products in China, South Korea and
Massachusetts. A123Systems plans to use part of the money raised
through the IPO to expand its manufacturing centers.'''