Agreement is First Example of A123’s Collaborative Development
WALTHAM, Mass.--(BUSINESS WIRE)--
A123 Venture Technologies, a Massachusetts technology incubator,
announced today its collaboration with MIT startup SolidEnergy. This
strategic partnership leverages SolidEnergy’s transformative
solid electrolyte technology enabling the safe and practical use of
lithium metal anodes for high energy density batteries in a wide range
of applications. It is also the first publicly announced agreement under
A123’s expanded R&D model introduced earlier this year.
Together the companies will gain competitive advantage by accelerating a
safer high energy battery chemistry with the potential of four times the
energy density compared to conventional lithium ion batteries.
SolidEnergy decided to partner with A123 Venture Technologies for its
world-class labs, innovation and rapid scale-up experience, and battery
design expertise. A123 Venture Technologies’ incubator business model
was launched last spring at MIT'sKnowledge Foundation conference as a
way to provide start-ups with access to its development facilities,
battery know-how, and market access in exchange for services revenue,
equity and cooperation on commercialization. A123 and SolidEnergy both
began with MIT research making this partnership a natural fit.
This partnership combines SolidEnergy’s novel battery technology called
Solid Polymer Ionic Liquid (SPIL) electrolyte originally developed at
MIT with the mature cell design and prototyping capabilities of A123.
“We are excited to embark on our respective new journeys and to
commercialize this technology in the fastest and most efficient way,"
said Qichao Hu, President and Chief Technology Officer of SolidEnergy.
The companies plan to jointly produce consumer electronics battery
prototypes within the next year, followed by electric vehicle battery
prototypes, and SolidEnergy staff will also be hosted in A123’s Waltham,
Massachusetts development facility. Test results are expected to be
ready for discussion with target customers in the latter part of 2014.
Mujeeb Ijaz, President of A123 Venture Technologies, said, "A123 is
delighted that SolidEnergy selected us as a development partner and we
look forward to providing them with the ecosystem needed to bring this
important technology to market in leading edge products.”
About A123 Systems
A123 Systems LLC, a wholly owned subsidiary of Wanxiang Group, is a
leading developer and manufacturer of advanced lithium-ion batteries and
energy storage systems for transportation, electric grid and lead-acid
replacement applications. The company’s proprietary Nanophosphate®
lithium iron phosphate technology is built on novel nanoscale materials
initially developed at the Massachusetts Institute of Technology and is
designed to deliver high power and energy density, increased safety and
extended life. A123 leverages breakthrough technology and expert system
integration capabilities to enable next-generation products for its
customers globally. For more information, please visit www.a123systems.com.
Jeff Kessen, 734.772.0345
Source: A123 Systems LLC