Wednesday, October 22, 2008
GE Helps Commercialize Electric Car with Sixth Investment in Battery Manufacturer A123Systems
NISKAYUNA, N.Y.-- GE (NYSE: GE) is recharging the electrification of transportation by making its sixth equity investment in lithium-ion battery manufacturer A123Systems. GE invested $30 million in A123’s $102 million Series E financing, making it the battery manufacturer’s largest single cash investor – at 9 percent ownership. The investments were made by GE Commercial Finance - Equity and GE Energy Financial Services, bringing GE’s combined total investment in A123Systems to $55 million. Link.
Posted by tva995 at 6:30 PM