in News Departments > FYI
print the content item

NEC Corp. has completed the previously announced acquisition of A123 Energy Solutions, the grid energy solutions and commercial energy systems business of A123 Systems, from China-based Wanxiang Group.

NEC says this acquisition, for approximately $100 million, strengthens the company's energy storage capability of its smart energy business. A123 Energy Solutions will now operate as NEC Energy Solutions Inc. (NECES), and as part of this acquisition, NECES and Wanxiang will also create a joint venture to develop a grid energy storage and commercial systems business in China.

“We are very pleased about the establishment of NEC Energy Solutions, and with it the full-scale entry into the grid energy storage and industrial batteries marketplace,” says Takemitsu Kunio, senior vice president of NEC Corp. “We will leverage the strengths of the NEC Group to enhance our offerings to support the renewable energy sector, the utility sector, the telecommunications sector and others.”





Trachte Inc._id1770
Latest Top Stories

Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.

Renewable NRG_id1934
Canwea_id1984
UnitedEquip_id1995
Future Energy_id2008