Economic downturn hasn't stopped cleantech: A123 IPOs
This, in a microcosm, is why the economic downturn won't cripple the environmental movement like it did in 1991. When A123, a nanotech battery company filed its IPO documentation this morning it proved that all the environmental action that has taken place since the last recession has been much more substantive than it ever has previously. Back in 1991 The Economist's editorial signed off with “Bye bye greens, see you in the next boom.” Today it is the environmental companies that seem to be doing well despite the downturn.
A123 Systems is an exciting company for many reasons. The company makes next-gen lithium ion batteries for electric and hybrid vehicles as well as for smaller portable devices and has already raised £68.7m in venture funding from Sequoia, General Motors, Motorola, Qualcomm, and others. It's business model is to license its technology to anyone interested which includes any car company interested in producing an electric car (ie all of them) and any hand held devices.
Apparently it is opperating at significant loss at the moment which should really be expected for an early(ish) stage company that is developing a very new technology.
Because it is a big story IPO it will probably do well, however despite all the potential this company offers, more needs to be done to reassure people that the nanotech batteries can be disposed of in a safe and and environmentally friendly way.
