A123 Systems Files to Go Public

A123 Systems Inc, a lithium-ion battery supplier, filed to go public on Nasdaq last Friday. Up until now, A123 Systems has relied on venture capital — the company has raised approximately $266.1 million. The paperwork A123 Systems submitted showcases the company as a solid clean tech investment. It expects that transportation industry to be its biggest market, setting the current market at $700 million and estimating that a growth spurt in the market will raise that figure to $5 billion by 2012. A123 is also developing battery systems capable of improving the electric power grid — currently a $2.4 billion market, which could read $3.1 billion in the next seven years. Finally, consider A123 System's current moneymaker: batteries for power tools and other portable devices. The company sets the current power tool market at $411... [read full story]