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A123Systems, founded in 2001 and based in Watertown, Massachusetts, is a privately held firm that develops lithium-ion batteries that employ proprietary nanoscale electrodes. The nanotechnology was developed by the Massachusetts Institute of Technology (MIT), a company shareholder. The firm's high-power cylindrical M1 batteries are durable and can be recharged within minutes. M1 products can be used to power lawn and garden tools, power tools, hybrid vehicles, medical devices, and other equipment. A stable cell chemistry supports compliance with environmental regulations. The batteries operate within a wide temperature range. A123Systems works with original equipment manufacturers (OEMs) in creating customized battery designs. The firm maintains manufacturing facilities across the United States, Taiwan, Korea, and China. Investors include Motorola, Qualcomm, Sequoia Capital, YankeeTek, OnPoint Technologies, and other companies. The company was founded by Yet-Ming Chiang and Bart Riley.
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