Industry Veterans Tapped to Accelerate Adoption and Development of Advanced Energy Storage Technologies
WATERTOWN, Mass., Nov. 13, 2009 (GLOBE NEWSWIRE) -- A123 Systems (Nasdaq:AONE), a developer and manufacturer of advanced Nanophosphate(TM) lithium ion batteries and systems, today announced the creation of two focused business groups -- one dedicated to the transportation market and the other to cell design and development -- to best serve customers across all of A123's vertical markets. The newly formed business organizations are the Automotive Solutions Group, led by Jason Forcier, and the Cell Products Group, led by Chris Tecca. These groups will operate alongside the existing Energy Solutions Group, led by Robert Johnson, which serves electric grid and consumer markets among others.
"The creation of these specific business organizations was a natural progression for the company as we continue to align our business offerings to best serve our customers, as well as put in place the infrastructure that we believe will help A123 Systems capitalize on our market opportunity and scale to much larger levels," said David Vieau, A123 Systems' president and chief executive officer. "We've added deep vertical expertise to our team as we take on new projects for customers who are eager to solve existing industry challenges by applying our battery cells and systems in innovative ways."
The Automotive Solutions Group, led by vice president Jason Forcier, works with major global automotive and heavy duty transportation manufacturers and tier-one suppliers to provide batteries and battery systems. This business group is comprised of dedicated engineering and product development experts and sales and marketing professionals with extensive automotive experience and locations in Michigan, Massachusetts, Germany and Asia. This business group will continue to work with automotive OEMs to offer customers a variety of choices in hybrid, plug-in hybrid and electric vehicle technology. A123's automotive portfolio includes relationships with major global automotive companies such as BMW, Chrysler, Renault/Better Place and Delphi/Shanghai Automotive Industry Corporation for passenger vehicle models; and Daimler, Magna Steyr and BAE Systems for heavy-duty transportation vehicles.
Forcier's prior experience as North American president of automotive electronics for Robert Bosch LLC will help A123 to grow its transportation business and encourage continued adoption of A123 technology in battery-powered automotive and heavy-duty vehicles, thus reducing our country's dependence on foreign oil and increasing our energy security.
The Cell Products Group, led by vice president Chris Tecca, will be responsible for the customer focused development and improvement of the battery cell products that form the basis for all of the company's offerings. This dedicated business group will improve upon A123's existing Nanophosphate technology and drive innovation through continual responsiveness to customer requirements. It will also explore new applications for A123's batteries that can benefit from A123's superior combination of battery power, safety and life.
Tecca's previous experience as managing director of GeesinkNorba, a subsidiary of the Oshkosh Corporation Company, as well as president at Danaher Power Solutions will play a key role in maintaining A123's high level of innovation, ensuring that new, innovative technology remain at the forefront of A123's product portfolios.
The Automotive Solutions Group and the Cell Products Group will operate alongside the existing Energy Solutions Group. Led by industry veteran Robert Johnson, the Energy Solutions Group designs and develops battery systems for the electric grid and consumer product markets among others. For the electric grid services market, A123 develops solutions that improve and enhance the efficiency of the electric grid in order to address the growing demand for alternative energy generation, in an effort to reduce CO2 emissions and meet renewable portfolio standards. As previously discussed, A123 has increased the level of resources dedicated to the electric grid market based on the anticipated size of the market opportunity and growing level of interest in the company's technology and battery systems. For the consumer market, A123 provides batteries with high power, long cycle life and high abuse tolerance to enable new applications.
Prior to this role, Johnson was senior vice president, president North America at APC-MGE, a $3 billion in revenue global provider of critical power and cooling services.
About A123 Systems
A123 Systems, Inc. (Nasdaq:AONE) develops and manufactures advanced lithium ion batteries and battery systems for the transportation, electric grid services and consumer markets. Headquartered in Massachusetts and founded in 2001, A123 was funded initially with a $100,000 grant from the U.S. Department of Energy. A123 Systems' proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. Among the companies selecting A123 batteries, battery systems and technology in the fields of transportation, grid energy storage and consumer products are Chrysler, Delphi/Shanghai Automotive Industry Corporation, AES Energy Storage, LLC and The Black & Decker Corporation. For additional information please visit www.a123systems.com.
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This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including statements with respect to A123's product offerings and the anticipated benefits of the Company's recent hires and its development of new business groups. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: delays in customer and market demand for and adoption of the Company's products in the transportation and other target markets, delays in the development of the Company's new products, the Company's ability to attract new customers and retain existing customers, adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which the Company operates and other risks detailed in A123 Systems' other publicly available filings with the Securities and Exchange Commission. All forward-looking statements reflect A123's expectations only as of the date of this release and should not be relied upon as reflecting A123's views, expectations or beliefs at any date subsequent to the date of this release.
