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A123Systems designs, develops, manufactures and sells advanced, rechargeable lithium-ion batteries and battery systems for the transportation, utility and consumer markets.

What make them different from other batteries manufacturer is that they have developed a proprietary technology (first discovered in MIT labs) that uses low impedance Nanophosphate electrode technology. Other battery manufacturer are using lithium-Ion have the desaventage to rely on natural Lithium availability which is limited and are less safe to use as they can catch fire or leak. In terms of performance A123 batteries components are thousands of times smaller than the micron-sized materials used in first generation lithium-ion batteries, A123's chemistry enables it to have twice the power density of competitor products. Other characteristics of the product: 10x longer life, 5x power gains and dramatically faster charge time (more than 90% capacity in five minutes) over conventional high-power battery technology.

A123 is manufacturing its products in China (it owns the facility there), South Korea, Taiwan but as well in US where it is putting at work the more than $600 million it received in grants, loans or tax credits by the federal and state government to build a state of the art production facility in Michigan.

Its current customers are Daimler, Chrysler, Volvo, Better Place/Renault, Black & Decker, AES and Procter & Gamble’s Duracell unit.

Investors alongside GE, which is A123’s biggest shareholder, include Sequioa Capital, ConocoPhillips, AES, Motorola and P&G. Google founders Larry Page and Sergey Brin drive electric cars powered by A123 batteries, as does Tom Hanks.