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DOE Gives A123 Two More Years to Spend Grant
Battery maker A123 Systems Inc. says the U.S.
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Battery maker A123 Systems Inc. says the U.S. Dept. of Energy has agreed to extend the term of its $249 million loan by two years to December 2014.
The DOE awarded the grant to A123 in August 2009. The company is using the funds to build a new lithium-ion battery factory in Michigan.
The company says it had received $127 million of the DOE loan by the end of last year.
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