Orion, MI and Watertown, MA, January 3, 2007Cobasys
and A123Systems announced today that they have signed
a memorandum of understanding to enter into a partnership
to develop, manufacture, sell, and service lithium-ion
energy storage systems for hybrid electric vehicle (HEV)
applications. The scope of the agreement will include
joint development, marketing and supply of A123Systems
nanophosphate lithium batteries and Cobasys systems
integration and manufacturing of battery systems for
To support customer programs in transportation markets,
Cobasys will act as the tier one supplier providing
the technical assistance and expertise for the design
and development of battery system products including:
packaging, thermal management, wiring, electronics and
control algorithms. Cobasys will help develop the requirements
and specifications to meet the integration needs of
customers and partners and will provide the validation
testing of fully integrated lithium battery systems.
A123Systems will manufacture and supply its automotive-class
nanophosphate Lithium Ion cells and technology.
We are excited to have A123Systems as a partner,
stated Thomas S. Neslage, Cobasys President & CEO.
The agreement to unite Cobasys system expertise
with A123Systems lithium technology further exemplifies
our vision to be recognized as the worlds most
admired energy storage integration solutions company.
This initiative will complement Cobasys' strong current
production battery system product offerings with A123Systems
lithium technology allowing its customers expanded choices
for hybrid electric vehicle programs.
We look forward to working with Cobasys to introduce
lithium-ion into the automotive market, said David
Vieau, A123Systems President and CEO. This partnership
will provide the market with game changing performance
to further accelerate the adoption of hybrid electric
Our partnership presents an enormous range of
potential benefits for the rapidly growing HEV market.
We look forward to working closely with A123Systems
to provide leading edge solutions to maximize the opportunity
afforded by the synergy of the two companies,
said Ivan Menjak, Cobasys General Manager for Planning
and Business Strategy.
Cobasys designs, manufactures and integrates advanced
battery system solutions featuring for transportation
markets, including Hybrid Electric Vehicles (HEV), Electric
Vehicles (EV) and 36/42 Volt applications and to stationary
markets, including Back-Up power supply systems for
Uninterruptible Power Supply (UPS), Telecom and Distributed
Cobasys is a joint venture between Chevron Technology
Ventures LLC, a subsidiary of Chevron Corporation (NYSE:
CVX) and Energy Conversion Devices, Inc. (NASDAQ: ENER).
For more information about Cobasys, contact Ray Wagner
at 248-620-5700 or visit our website at http://www.cobasys.com.
A123Systems has quickly become one of the Worlds
largest suppliers of high-power lithium-ion batteries.
Based on the Companys patented nanophosphate technology,
the batteries deliver previously unattainable levels
of power, safety and life. Applicable to a wide range
of industries, A123Systems products allow OEMs
expanded flexibility in system design, removing many
traditional technology constraints. Founded in 2001,
A123Systems proprietary nanoscale electrode technology
is built on initial developments from the Massachusetts
Institute of Technology.
For additional information about A123Systems please
contact Keith Watson at 617-758-4142 or visit http://www.a123systems.com/.
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