cell manufacturing

A123 Systems Sells Off Energy Storage Division for $100 Million to NEC

A123 Systems signed an agreement with NEC Corporation (NEC) of Japan to divest of its grid storage business and other assets related to energy storage for telecom and IT data storage applications. NEC acquired the A123 Energy Solutions for approximately $100 million. An agreement on the terms of the deal has been finalized and a new company, NEC Energy Solutions, is slated to begin operation in June 2014 under the direction of NEC.