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A123Systems Battery Co Acquires Hymotion Conversion Co

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  • Felix Kramer
    This is the part 2 announcement after A123Systems CEO David Vieau s Senate testimony Monday . As of now,
    Message 1 of 1 , May 3, 2007
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      This is the part 2 announcement after A123Systems CEO David Vieau's
      Senate testimony Monday
      <http://www.calcars.org/calcars-news/753.html>. As of now, according
      to the CalCars unofficial tally
      <http://www.calcars.org/where-phevs-are.html>, Hymotion has delivered
      11 Prius conversions. Before readers of this list start pestering the
      company to get a PHEV, note that the current plan is to remain
      focused on fleets until sometime in 2008.

      The actual capacity of the Battery Range Extender Modules to provide
      the 40-mile electric range cited by Vieau is unclear. (Hymotion's
      current conversions are 5kWh.) Meanwhile, you can comment at the
      GreenCarCongress report:
      http://www.greencarcongress.com/2007/05/a123systems_acq.html

      A123Systems Acquires Hymotion
      Transaction combines Automotive Class Lithium Ion(tm) technology with
      vehicle-level power-engineering experience to address the needs of
      the growing aftermarket demand for plug-in hybrid modules
      http://home.businesswire.com/portal/site/home/index.jsp?ndmViewId=news_view&newsId=20070503005122&newsLang=en&ndmConfigId=1001382&vnsId=

      WATERTOWN, Mass.--(BUSINESS WIRE)--A123Systems today announced that
      it has completed the acquisition of Hymotion, Inc., the leading
      fabricator of aftermarket plug-in hybrid modules. These Battery Range
      Extender Modules (BREMs) can be easily installed in the spare tire
      well of most hybrid vehicles, enabling current production models to
      become Plug-in Hybrid Electric Vehicles (PHEVs) capable of achieving
      100 or more miles per gallon. Converted PHEVs have the potential to
      reduce oil consumption by as much as 75 percent and CO2 emissions by
      up to 50 percent over today's internal combustion engine powered vehicles.

      "With 5 million hybrids expected on the road by the end of 2010, we
      feel there is a significant opportunity for an interim aftermarket
      solution allowing consumers to experience the oil and CO2 reduction
      benefits that PHEV upgraded vehicles provide," said David Vieau,
      President and CEO.

      The Hymotion acquisition provides A123Systems access to critical
      early IP on Plug-in Hybrid systems technology as well as valuable
      experience with engineering BREMs using A123Systems' Automotive Class
      Lithium Ion batteries. Terms were not disclosed.

      "The fleet market has been an important testing ground for PHEVs"
      said Ricardo Bazzarella, Co-founder and President of Hymotion. "The
      Hymotion systems will continue to be available to the growing fleet
      market. Over the coming months we will work to reduce delivery times
      to fleets by standardizing packaging and in anticipation of having a
      consumer ready system for 2008 introduction."

      "BREM technology is the near-term answer for plug-in hybrid vehicle
      technology and, thanks to recent joint contracts with NYSERDA and the
      South Coast AQMD, no company had nearly as much real-world data on
      engineering aftermarket modules with A123Systems' batteries as
      Hymotion," said Akos Toth, Co-Founder and Director of Engineering of
      Hymotion. "Joining forces with A123Systems enables us to more
      efficiently address demand for plug-in hybrid electric vehicles today."

      The Hymotion team has a deep history in the alternative fuel and
      heavy duty vehicle segments, bringing critical integration and design
      experience to the group. This valuable experience includes work with
      OEMs such as Daimler-Chrysler and BMW, as well as heavy duty
      manufacturer Orion Bus Industries, and alternative fuels companies,
      Hydrogenics and Quantum Technologies.

      The A123Systems Nanophosphate(tm) cells are next-generation
      lithium-ion batteries designed for exceptional power, safety and
      life. A123System's Automotive Class Lithium Ion cells have been
      optimized specifically for use in HEV and PHEV applications.

      About Hymotion

      Hymotion Inc. is a provider of complete integration for hybrid and
      fuel cell systems. Hymotion brings over ten years of experience in
      the alternative fuel industry. It can offer mechanical, electrical,
      control system and power electronics design for OEM customers. As a
      green technology company, their mission is to provide new generation
      hybrid and alternative fuel solutions to customers that value green
      and innovative technologies.

      About A123Systems

      A123Systems is one of the world's leading suppliers of high-power
      lithium-ion batteries. The company's Nanophosphate technology enables
      its batteries to deliver previously unattainable levels of power,
      safety and life. Applicable to a wide range of industries,
      A123Systems' products remove many traditional technology constraints
      to provide OEMs expanded flexibility in system design. A123Systems'
      wholly owned subsidiary T/J Technologies (Ann Arbor, Michigan) is
      nationally recognized for new materials development and cutting-edge
      research. With the largest lithium-ion R&D team in North America,
      world-class expertise and management, and global manufacturing
      operations, A123Systems' Automotive Class Lithium-IonTM batteries are
      leading the automotive movement towards platform electrification.
      Founded in 2001 and headquartered in Massachusetts, A123Systems'
      proprietary nanoscale electrode technology is built on initial
      developments from the Massachusetts Institute of Technology. For
      additional information please visit www.a123systems.com.

      -- -- -- -- -- -- -- -- -- -- -- --
      Felix Kramer fkramer@...
      Founder California Cars Initiative
      http://www.calcars.org
      http://www.calcars.org/news-archive.html
      -- -- -- -- -- -- -- -- -- -- -- --
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