This will allow the company to combine the activities of several previous groups of A123 Systems under one division.

This new division, headquartered in Westborough Massachusetts, will continue to design, develop, and manufacture lithium-ion energy storage systems ranging from small industrial batteries to multi-megawatt grid-scale energy storage systems.

A123 Energy Solutions said it will also continue to support its network of value-add channel partners, distributors and resellers for A123 Systems’ Nanophosphate cell products.

“A123 Energy Solutions has always been focused on high performance, safe and reliable battery systems and will continue to develop new energy storage products under this new brand, which helps to distinguish our activities from the transportation division in Livonia and the technologies division in Waltham,” said Bud Collins, President of A123 Energy Solutions.

A123 Energy Solutions unveiled its new brand at the AWEA Windpower 2013 conference, held in Chicago.

A123 Systems, LLC is the part of A123 that is a wholly owned subsidiary of Wanxiang Group.

The post A123 Energy Solutions New Division Of A123 Under Wanxiang appeared first on HybridCars.com.

The Court also granted approval for A123 to sell its government business to Navitas Systems.

As previously announced, following Johnson Control’s withdrawal from the auction, A123 and Wanxiang have agreed to terms on an asset purchase agreement through which Wanxiang would acquire substantially all of A123’s assets for $256.6 million. The sale is subject to certain closing conditions, including approval from the Committee for Foreign Investment in the United States (CFIUS).

According to A123, excluded from the asset purchase agreement with Wanxiang is A123’s Ann Arbor, Mich.-based government business, including all U.S. military contracts, which would be acquired for $2.25 million by Navitas Systems through a separate asset purchase agreement.

“Receiving Court approval of our asset purchase agreement with Wanxiang and Navitas is an important step toward finalizing the sale of A123’s assets, and we are now focused on CFIUS approval of the sale to Wanxiang, which we are confident that we will receive given the structure of this transaction,” said Dave Vieau, chief executive officer of A123. “We believe an acquisition by Wanxiang will provide A123 with the financial support necessary to strengthen our competitive position in the global vehicle electrification, grid energy storage and other markets, and we look forward to completing the sale.”

Court documents and additional information can be found at a dedicated Web site administrated by the Company’s Claims Agent, Logan & Company.

The post Court Gives Go-Ahead To Wanxiang’s Acquisition Of A123 Systems appeared first on HybridCars.com.