A123 Systems Inc., which designs, develops, manufactures and sells advanced rechargeable lithium-ion batteries and energy storage systems primarily for use in hybrid and electric vehicles, voluntarily filed for bankruptcy protection today in Delaware. The company's largest customers are Fisker Automotive, Inc. (26% of revenue) and AES Energy Storage, LLC (24% of revenue). A123 is also notable for having received a $249 million federal grant in 2009.
Details of the company's history, bankruptcy filing, and future plans are detailed in a declaration signed by A123′s Chief Financial Officer and filed with the bankruptcy court. The full declaration is embedded on our blog, and we've also summarized some of the key elements of the 104-page filing. Find it here: