Westborough-based division of A123 sold
NEC Corp. has bought the Westborough-based energy solutions business of A123 Systems for about $100 million, the Japan-based technology networking provider announced today.
The energy solutions division focuses on advanced batteries for electric grid, backup power and lead-acid replacements for commercial applications. NEC said the deal strengthens the energy storage capability of NEC’s “smart energy” business.
The Westborough-based division will be renamed NEC Energy Solutions in June. With the deal, NEC said it will become the world’s leading supplier of lithium-ion grid energy storage systems.
A123 will retain its existing cell manufacturing and sales, research and development, and automotive operations, which will remain the core focus of A123 Systems, according to a statement from NEC.
“With these combined strengths, NEC Energy Solutions will be able to help satisfy the growing demand for energy storage worldwide,” said Takemitsu Kunio, a senior vice president for NEC.
“We are delighted by the combination of strengths of the two companies,” said Bud Collins, president of A123 Energy Solutions. “Combining our experience in the grid storage space with the world’s leading utilities and power producers, NEC’s strength in (information technology), and its lithium-ion manufacturing scale, we believe the resulting company will be a formidable organization, well-equipped to handle the emerging smart energy sector across the globe.”
A123 is owned by Wanxiang Group of China.
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