| Founded | 2001 |
|---|---|
| Closed | 2013 |
| Country | USA |
| Sector | Climate |
| Total raised | 884 |
| Collapse type | Sudden Collapse |
| Founder | Yet-Ming Chiang, Bart Riley, Ric Fulop |
A123 Systems
"$249M US government grant. $257M Chinese acquisition. American battery dream sold to China."
Unexpected shutdown within weeks of a trigger
Key Events Timeline
A123 Systems was MIT's great battery hope — founded on Yet-Ming Chiang's lithium-iron-phosphate research, it raised $635M and received a $249M US government grant to build American EV battery manufacturing.
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