The startup plans to use the funding led by General Electric to accelerate its production of batteries for electric vehicles.
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Compact Power—not General Electric-backed A123Systems— likely to provide lithium-ion batteries for the automaker’s first plug-in hybrid vehicle.
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Venture investment in batteries, flywheels, fuel cells, and other storage media grew 74 percent, report says.
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A123Systems will use funding to expand product line and increase manufacturing.
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General Motors unveils new concept hybrid that revisits the electric car; plug-in hybrid advocates clamor for production now.
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General Electric’s Mark Huang says the cleantech sector is ripe for investment.
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A123Systems says its lithium-ion batteries are reaching for the hybrid car market.
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A new lithium-ion battery from startup A123Systems promises five times as much power for 10 times as long as competitors.
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