A123 Systems (AONE) Signs Joint Marketing Agreement With IHI Corporation

A123 Systems just announced that they have signed a joint marketing agreement with IHI Corporation, one of Japan’s largest manufacturers of heavy industry equipment. Under the agreement, the two companies will work together to seek out new energy storage customer opportunities in the Japanese market. The agreement is significant for A123 because IHI is a such major player in the Japanese market, with clients that include big names like Toyota, Honda,
Nissan, Mazda, Suzuki and Mitsubishi.

In a press release, David Vieau, A123 Systems’ president and chief executive officer, commented on the deal:

“We are very pleased to have found such a strong partner in IHI as we begin to
identify a portfolio of energy storage business opportunities in the Japanese
market. We believe their confidence in our technology is another important validation
of both our product offerings and our business strategy as a vertically
integrated supplier of lithium ion batteries and battery systems. We continue to
diversify our business pipeline by designing and producing products for multiple
customer applications and can now more efficiently bring these technologies to
the important Japanese market.”

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