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Drawing the Right Conclusions from the Problems at A123 ...

by James Greenberger

Drawing the Right Conclusions from the Problems at A123

Written by James Greenberger on May 19th, 2012

Earlier this week A123 Systems disclosed in a Form 10-K filed with the Securities and Exchange Commission that it lost $125.0 million during the quarter ended March 31, 2012 and had at the end of that quarter $113.1 of cash and cash equivalents remaining.  The company is hoping to close on $50 million of private debt financing later this week and is exploring its strategic options.  A123 acknowledged that these circumstances raise substantial doubt on its ability to continue as a going concern.  The news at A123 Systems follows the bankruptcy of advanced battery producer Ener1, Inc. last January and the closing of International Battery in March.

The problems at A123 Systems, should they become worse, will undoubtedly attract great attention from media and political commentators.  In 2009, A123 Systems received the second largest award, $249.1 million, under the Recovery Act Electric Drive Vehicle Battery and Component Manufacturing Initiative, the Department of Energy’s FOA-26 grant program.  Ener1’s subsidiary, EnerDel, received a $118.5 million grant under the same program (International Battery did not receive an FOA-26 award).  The ongoing challenges of advanced battery manufacturers will provide unfortunate fodder for those arguing against continued government financial support for the development of new energy technologies.

If criticism intensifies, which is likely, it will be important to communicate an important point:  Government funding of new energy technologies is meant to support those technologies, not the companies that develop them.  The failures of Ener1 and International Battery, and the troubles of A123 Systems, are business failures, not technology failures.  Companies come and go.  Corporate assets get bought, sold and reorganized.  None of that should matter to taxpayers.  What should matter is whether the technologies that A123 and Ener1 owned at the time they received their grants has been advanced and pushed closer to commercialization.  Indications in both cases are that they have been.

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Auto Batteries: Battery Care

Why are capacitors considered more dangerous than batteries in automotive electronics?

Jun 06, 2007 by KaeZoo | Posted in Car Audio

Often in questions about "stiffening" caps, the answers include recommendations that warning signs are posted whenever an audio system includes a capacitor. I don't understand why capacitors are thought to be more dangerous than batteries.

It's a simple matter of courtesy and protection. If for any reason your car needs to be worked on (battery removed), a notification that a possible voltage may still be present on the hot wire, even when disconnected from the battery, may save some guy