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Waltham battery maker A123 Systems Inc. has formed a licensing partnership with Japanese industrial equipment manufacturer IHI Corp., which will make IHI the sole provider of A123 battery systems in Japan’s transportation market. The deal will bring a $25 million payment from IHI to A123, the companies reported in a news release Monday.
The licensing deal is expected to support IHI’s goal of using A123’s battery systems and modules to in manufacturing electric vehicles. The two companies also have a product supply agreement that makes A123 the exclusive provider of lithium ion battery cells to IHI for both transportation and non-transportation plans.
A123 (Nasdaq:AONE) announced last week that it had revised its revenue guidance for the year based on what it says is expected to be a temporary cutback in orders by customer Fisker Automotive.
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