Date: Jan 30, 2013 Source: Bloomberg (
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Navitas Systems LLC Completes the Acquisition of A123 Systems' Government Business
New Division Called "Navitas Advanced Solutions Group"; Les Alexander Appointed General Manager
WOODRIDGE, Ill., Jan. 30, 2013 (GLOBE NEWSWIRE) -- Navitas Systems LLC (www.navitassys.com), a leading provider of energy-enabled system solutions and energy storage products for commercial, industrial and government agency customers, today announced that it has finalized its acquisition of substantially all of the assets of A123 Systems' former Ann Arbor, Michigan-based government business, including U.S. military contracts. Navitas Systems' bid won the defense-related assets of A123 and was approved by the US Bankruptcy Court on December 11^th, 2012. Navitas' acquisition represents the final milestone in this transaction. Earlier today, Wanxiang America Corporation announced that it has acquired substantially all of the non-government business assets of A123 Systems, Inc. through a transaction that has been approved by the Committee on Foreign Investment in the United States (CFIUS).
Alan ElShafei, Chairman and Founder of Navitas Systems, said, "Beyond the laboratory, intellectual property assets and government contracts we formally gained today, we're delighted that all of our offers to the eligible employees of the Ann Arbor, Michigan R&D facility were accepted. This enables Navitas to keep intact all of the world-class scientists and engineers necessary to develop and commercialize Nanophosphate lithium ion battery chemistry and other advanced battery technologies being developed for critical military and government applications."
In addition to keeping the Ann Arbor R&D team intact, Navitas has also hired several key engineers from A123's Livonia Automotive Group who were working on the productization of several government battery projects. Nancie ElShafei, CEO of Navitas Systems said, "Part of the excitement of the Ann Arbor team is because their research and development work now has a direct outlet to exciting military and other governmental applications which the Navitas team in Woodridge Illinois is cultivating. The second part of their excitement in accepting the Navitas offers stems from the leadership of Les Alexander, who will assume the role as General Manager of the newly titled organization, 'Navitas Advanced Solutions Group (ASG).'"
Les Alexander has deep experience in the lithium battery industry, and has been an integral part of the Ann Arbor R&D team since the days of T/J Technologies, a lithium battery technology firm which A123 Systems acquired in 2006. "First off I would like to thank Alan and Nancie ElShafei and the Navitas team for the vision of acquiring the A123 Government business. There's no question that the last six months have been tough. But we begin 2013 with a new company, a clear and well-funded path forward, and the enthusiasm and support of our employees and customers to get on with the business of creating and implementing advanced battery solutions which will have dual-use in both government and commercial applications. We are literally 're-charged!'"
Lithium battery safety has been in the news of late, with the recent incidents involving new Boeing jet aircraft. Alan ElShafei added, "Our scientists and engineers know that high performance can't come at the expense of safety. We have some exciting new initiatives on our technology roadmap in this area. Navitas Systems will continue to commit and dedicate the resources needed in working with industry leaders to reinforce safety as the top priority."
About Navitas Systems, LLC
Navitas Systems, founded in 2010 and previously known as MicroSun Innovative Energy Storage Solutions ("IESS"), is a woman-owned small business headquartered in Woodridge Illinois. Located in a state-of-the-art 100,000 square feet facility-with local and offshore partners and solid financial stability, Navitas is well positioned to continue serving major worldwide customers.
What drives Navitas is the passion for bridging the gap between customer challenges and environmentally and financially sustainable solutions. Navitas Systems is a leader in integrated design, technology development, and manufacturing, providing energy enabled system solutions and energy storage products for commercial, industrial and government agency customers. Navitas products range from customized energy storage solutions for motive, idle-reduction and defense related applications, along with custom renewable energy integrated power systems, to standard products like lithium based lead-acid replacement batteries. For more information visit www.navitassys.com and follow @Navitas_Systems on Twitter.
CONTACT: Thomas Golab (630) 755-7920
tgolab@navitassys.com
