A123 Systems has signed on electricity utilities to use its lithium-ion batteries for short-term energy storage, according to a company executive.
The company, spun out of the Massachusetts Institute of Technology, is a closely watched venture that is best known for activity in the auto and power tools markets.It is working with General Motors for plug-in hybrids and Think for all-electric town cars. A123 Systems also owns Hymotion, a company that converts hybrid cars to plug-in hybrids.
But lithium-ion batteries, already used in millions of consumer electronics devices, can be plugged into the electricity grid as well, according to the company.
A123 Systems is working with investor General Electric to use A123 batteries for "grid stabilization," said Ric Fulop, founder and vice president of business development, on Tuesday. He spoke on a panel of energy storage experts organized by the New England Clean Energy Council....MORE