MassCEC Approves $5M Forgivable Loan for A123 Systems; Targeted at Expansion for Grid Storage Systems
Green Car Congress
APRIL 26, 2010
The Massachusetts Clean Energy Center (MassCEC) has approved a $5-million forgivable loan for Li-ion battery manufacturer A123 Systems contingent on its hitting job creation and private investment milestones. Under the terms of the MassCEC financing, A123 will double its Massachusetts employment to more than 500 by 2014.
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