NEC Acquires A123 Energy Solutions

Posted by SI Staff on May 16, 2014 No Comments
Categories : FYI

NEC Corp. has completed its acquisition of A123 Energy Solutions, the grid energy solutions and commercial energy systems business of A123 Systems LLC, from China's Wanxiang Group.

A123 Energy Solutions will operate as NEC Energy Solutions Inc. (NECES), with a focus on developing storage technologies to enable greater usage of wind and solar energy. The company says it will also focus on improving aging grid infrastructure and the operational efficiency of existing grid assets.Â

As part of the acquisition, NECES and Wanxiang will create a joint venture to develop the grid energy storage and commercial systems business in China.

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