Yesterday A123 Systems announced it had completed the acquisition of energy technology patents by Leydon Energy.
Among more than 20 patents is the rights to lithium titanate battery tech and other tech which could be used to build electric cars by the Chinese-owned Wanxiang which owns A123 Systems.
Some of Leydon’s California employees will be relocating to Massachusetts to work at A123’s research facility.
Lithium titanate is known as possessing a nonflammable electrolyte and allows for faster charges and discharges.
The price paid for the intellectual property acquisition was said to be on par with market value but a dollar amount was not disclosed.