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NEC completes A123 buyout

Thu, 05/22/2014 - 11:36 -- Anonymous
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NEC has acquired A123 Systems
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NEC Corporation has announced the completion of the 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 now operate as NEC Energy Solutions, Inc. and plans to build safe and reliable energy storage systems for leading utility companies and power producers throughout the world. As part of this acquisition, NECES and Wanxiang will create a joint venture to develop the grid energy storage and commercial systems business in China. Moreover, NEC will seek to expand new global business through the creation of next generation energy solutions linked to Information Communication Technologies (ICT) and energy storage systems.

NEC Energy Solutions will manufacture and continue the launch of Nanophosphate® ALM Series Lead Acid Replacement Batteries. These batteries deliver significantly lighter weight, higher power and longer calendar and cycle life as compared with lead acid for a number of applications, the company claims.

“We are very pleased about the establishment of NEC Energy Solutions, and with it the full-scale entry into the grid energy storage and industrial batteries marketplace. We will leverage the strengths of the NEC Group to enhance our offerings to support the renewable energy sector, the utility sector, the telecommunications sector, and others,” said Takemitsu Kunio, senior vice president of NEC Corporation. “By improving energy reliability, sustainability, and security with turn-key systems integration and best-in-class energy storage technologies, we will strive to be the leader in smart energy solutions,” he added.

“We are excited to see the momentum building for the installation of grid storage around the world and for lithium batteries in commercial applications,” commented Hideki Niwaya, NECES board chairman and VP of NEC Smart Energy Business Unit. “The reaction from each company’s customers has been very favourable to this complementary combination.”

NEC Energy Solutions says it plans to provide intelligent energy solutions to enable greater usage of renewable energy from wind and solar, support aging grid infrastructure, and improve the operational efficiency of existing grid assets.