Sep252009
A $380 million stock sale for Mass. battery maker
Filed under Alternative energy by david brooks at 9:04 am
Is it time to start worrying about a green-tech bubble? A123 Systems, the Watertown, Mass. developer of lithium-ion batteries for cars and industrial uses, made $380 million in its Initial Public Offering yesterday. Much of that will be used to match stimulus funding to build a manufacturing plant in Michigan. Here’s the Globe story; here’s the Mass High Tech story.
This must be painful for Boston-Power Inc., the other high-profile Massachusetts firm pursuing the next-generation battery business. It didn’t get stimulus funding and has sputtered since.
