A123 is to invest in Solid Power, a developer of technology which works in the energy density and safety of next generation batteries.
The investment represents another step in A123’s plan to couple technology investments to its own R&D efforts in order to develop a portfolio of battery technology.
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Previously-announced transactions in the same programme include A123’s recent investment in Wildcat Discovery Technologies and its technical collaboration with Argonne National Labs, which was announced last year. Further technology investments and strategic collaborations are also being developed.
“A123 continues to invest in the future and is developing a portfolio of high energy density products to complement our leadership in high power solutions,” said A123 Vice President of corporate strategy, Jeff Kessen.
“We acted early as a series A investor to support a promising solid-state technology and look forward to the commercialisation of Solid Power’s innovations as they continue to mature.”
Solid Power originated as a spin-out from the University of Colorado Boulder and was established in 2012 by a team of battery researchers and engineers.
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By GlobalDataThe solid-state technology enables the safe application of lithium metal anodes as a means to achieving energy density.
