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A123Systems Preparing IPO

On the heels of A123System’s plug-in hybrid conversion company Hymotion finally offering its kit to consumers, words is out that the lithium ion battery company is very close to filing its IPO, according to Scott Kirsner via Pehub.com.

Kirsner says A123Systems will likely file next month after its first quarter numbers have been filed and has chosen its bankers for its IPO: Goldman, JPMorgan and Merrill. The company could be valued at more than $1 billion says Kirsner. PEhub.com notes that A123Systems has raised more than $132 million from a long list of investors including General Electric, Procter & Gamble, Motorola, Qualcomm, North Bridge Venture Partners, Sequoia Capital, CMEA Ventures, FA Technology Ventures, OnPoint, and the Massachusetts Institute of Technology.

We haven’t confirmed this story, but we’ve contacted the company to learn more.

11 Responses to “A123Systems Preparing IPO”

  1. Plug-in hybrids are clearly a MUCH better idea than regular hybrids, but it’s a shame they don’t offer this kit for a gas-only car. The Prius, despite it’s claims, is actually a bad car for the environment. The nickel for the batteries is mined in northern Canada with horrible pollution in prince william sound, and then shipped between a variety of continents before being installed in the car.

    Using these kits to convert existing gas-powered cars would mean recycling old cars, jobs for mechanics in the U.S., and real improvement in terms of cars’ carbon footprints. I get that the Prius is more of a symbol than a solution, so it certainly makes sense that they would offer the kit for that car first… but I’ll hold out for the full conversion.