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MassCEC Approves $5M Forgivable Loan for A123 Systems; Targeted at Expansion for Grid Storage Systems

Green Car Congress

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. With the new expansion, A123 Systems will assemble and commission grid-storage battery systems in Massachusetts.

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A123Systems Raises $69 Million in New Round of Private Financing; GE Increases Ownership to More than 10%, Director of GE Global Research to Join Board

Green Car Congress

The capital will help support the expansion of A123’s facilities in Hopkinton, MA, and Novi, MI, as well as build planned new factories in Michigan. The funding will also support A123’s efforts to develop applications for the smart grid, such as utility-scale energy storage. Earlier post.)

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Chrysler unveils new electric minivan for the US Postal Service

Tony Karrer Delicious EVdriven

Department of Energys Transportation Electrification stimulus program for a federal grant that would enable a nationwide demonstration fleet with the United States Postal Service (USPS) * Potential partnership with USPS to include infrastructure support from ConEd, Duke Energy, DTE Energy and Electric Power Research Institute (EPRI) Washington, D.C.,

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