A123Systems Files S-1 Registration Papers for IPO
Coming Wave of Green IPOs?Battery maker A123Systems wants to go public. After raising $123 million in venture funding, it now wants to raise $175 million more. Is it the start of a wave of green IPOs, or is the market too bad for that? A lot of green stuff is way more capital-intensive than the technology sector was in the late 1990s, so any parallel between the two should be taken with a grain of salt.
A123Systems Goals and Partners"A123Systems is targeting three primary markets with its Li-ion technology: transportation, electric grid services (EGS), and portable power." They are already working with General Motors for the Chevy Volt and Think Global for the TH!NK city EV. The S1 papers also name a few other potential partners: MAGNA STEYR Fahrzeugtechnik AG & Co. KG, Delphi Corporation, and Better Place. Via A123Systems Files S-1 for IPO, TechCrunch