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A123 Exits Bankruptcy, Becomes B456

A123_Systems,_Inc._logoWell known lithium-ion battery manufacturer A123 Systems (which supplied batteries for the Fisker Karma) went the unfortunate bankruptcy route last year. It is now about to fully pull itself out of that, with the help of China’s Wanxiang (which is purchasing the company), a plan to pay off all its debt. The company has won court approval to officially exit bankruptcy following approval of the plan by the company’s creditors.

To get out of bankruptcy and pay off its debt, it is basically going to sell all its assets. In its rebirth, the company’s name is changing to B456 Systems.

 
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is the director of CleanTechnica, the most popular cleantech-focused website in the world, and Planetsave, a world-leading green and science news site. He has been covering green news of various sorts since 2008, and he has been especially focused on solar energy, electric vehicles, and wind energy since 2009. Aside from his work on CleanTechnica and Planetsave, he's the founder and director of Solar Love, EV Obsession, and Bikocity. Zach has long-term investments in TSLA, SCTY, FSLR, SPWR, SEDG, & ABB. After years of covering solar and EVs, he simply had a lot of faith in these companies and felt like they were good companies to invest in as a portion of his retirement strategy. To connect with Zach on some of your favorite social networks, go to ZacharyShahan.com and click on the relevant buttons.

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