The World's #1 Renewable Energy Network for News, Information, and Companies.

Storage Updates: A123 Buys Battery Tech as It Mulls EVs, Sunverge Raises $15 Million for Distributed Application

Storage Updates: A123 Buys Battery Tech as It Mulls EVs, Sunverge Raises $15 Million for Distributed Application

A123 Systems LLC, the battery maker bought by Wanxiang Group Corp. after it sought bankruptcy protection in 2012, purchased technology from Leyden Energy Inc. that the Chinese parent may use to make electric cars.

The deal includes more than 20 patents and some employees from Leyden who will relocate from California to A123’s research facility in Massachusetts, Jeff Kessen, a spokesman for the Livonia, Michigan-based company, said today in a telephone interview. A123 paid “fair market value,” Kessen said, referring to the intellectual property acquisition, while declining to disclose the price.

Leyden’s non-flammable electrolyte and lithium titanate technologies allow for faster charges and discharges, which may be useful in batteries for vehicles, Kessen said. A123 previously developed batteries for Fisker Automotive Holdings Inc., which also was purchased by closely held Wanxiang, China’s largest maker of auto parts.

Lu Guanqiu, chairman and founder of Wanxiang, has said he plans to build electric vehicles in the U.S., and later in China, to compete with Tesla Motors Inc. China is the world’s largest auto market.

“We see some applications in automotive” for the Leyden technology, Kessen said. “We’re further investing in having some of the most powerful batteries available.”

Meanwhile Sunverge Energy Inc., a U.S. provider of distributed-energy management systems, closed a $15 million funding round that it will use to expand the company.

The Series B equity financing was led by the Southern Cross Renewable Energy Fund and joined by venture capital units of Siemens AG and Total SA, Stockton, California-based Sunverge said today in a statement.

Sunverge builds systems that use local and cloud-based software to manage units composed of batteries and multiple energy inputs, according to the statement. The company has almost 300 units deployed across four continents.

Copyright 2014 Bloomberg

Lead image: Update stamp via Shutterstock

RELATED ARTICLES

The Big Question: What Is the Most Frustrating Part about Working in Renewable Energy?

Renewable Energy World Editors

Every industry has its challenges and misunderstandings. Sometimes the obstacles we face in simply trying to do our jobs can be very frustrating.

ViZn Flow Batteries

ViZn Turns to Jabil to Meet Growing Demand for Flow Batteries

Andrew Burger, Correspondent Energy storage startup ViZn, developer of advanced zinc-iron flow battery technology, is scaling up the size and scope of its operations as it works to meet growing demand from a variety of customers both in the U.S. and a...
Australian flag

Panasonic to Sell Energy Storage in Australia to Tap Solar Surge

Chisaki Watanabe and James Paton, Bloomberg

Panasonic Corp. will begin selling energy storage systems in Australia to take advantage of the proliferation of solar panels dotting the rooftops of homes in the sunburned country.

Science theme

Scientists Start $150 Billion Program to Cut Clean Energy Costs

Louise Downing, Bloomberg

Scientists and economists including BP Plc’s former chief executive officer, John Browne, are inviting governments to join a $150 billion program that aims to make clean energy cheaper than coal.

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

PV-301: Advanced PV Design & Installation

This highly desirable and advanced course is intended for the profession...

PV-401: Advanced Field Training

Real world on the job solar installation, training, and experience is th...

PV-201: Introduction to PV Design & Installation

PV 201 Introduction to PV Design & Installation is simply the best i...

COMPANY BLOGS

Solar Tracking – A Key Technology for Unlocking the Full Potential ...

Quotes for very large solar photovoltaic projects in sunny parts of the ...

Customer Profiling

Before you reach out to a prospect, do you take the time to research the...

Meteorological Technology International Magazine - SENSORS AND SENS...

Over the past 10 years, these sensing technologies have spread tre...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS