Battery Maker A123 Systems’ Bankruptcy by the Numbers

Battery maker A123 Systems filed for bankruptcy Tuesday, saying that the Milwaukee, Wisconsin-based Johnson Controls would be taking over its automotive operations in a deal valued at $125 million. This past August, A123 had arranged for Chinese auto parts company Wanxiang Group to invest $450 million, but that deal fell apart amid what A123 CEO David Vieau called “unanticipated and significant challenges.” (See full National Geographic News story: “A123 Bankruptcy Underscores Hurdles for U.S. Clean Tech“)

The Wanxiang deal may not be dead, though: BloombergBusinessweek reported Wednesday that Wanxiang is still interested in acquiring A123. Wanxiang executive Ni Pin offered this colorful quote: “Bankruptcy court is like a filter that lets a dirty big boy covered with mud go through it and turn himself into a clean boy. Even though the boy may become smaller, he doesn’t have the obligations he used to have.”

Here’s a look at A123 Systems’ situation by the numbers:

$6 million: Grant money awarded to A123 under the George W. Bush administration’s Department of Energy in 2007.

$249.1 million: Grant money awarded in 2008 by the Obama administration’s DOE to help A123 set up battery manufacturing in Michigan.

$125 million: Level of support provided to A123 from the state of Michigan through tax credits and grants.

$132 million: Amount that A123 has spent from the $249.1 million Energy Department grant awarded in 2009.

$1: Amount that A123 was required to spend from its own funds for every dollar received from the government.

$380 million: Amount that A123 raised in its 2009 initial public offering.

1,7643: Number of active A123 employees

5: Percentage of A123’s total revenue derived from government contracts and subcontracts during the 2011 calendar year

8: Percentage of A123’s research, development, and engineering expenses funded by government contracts and subcontracts last year.

$143.8 million: Value of notes expiring in 2016 on which A123 failed to make interest payments due Monday.

14: Number of consecutive quarters in which A123 has reported losses.

10: Total number of A123 facilities in the U.S., China, and Germany.

$51.6 million: A123’s estimate of costs it would incur replacing battery packs and modules containing defective prismatic cells produced at the company’s Livonia, Michigan, facility.

26: Percentage of A123’s 2011 revenue from struggling plug-in hybrid vehicle maker Fisker Automotive.

$459.8 million: Total value of assets listed in A123’s bankruptcy filling.

$376 million: Total debt listed in A123’s bankruptcy filing.

$600: Amount by which A123 said its new technology, nanophosphate EXT, announced in June 2012, would slash battery costs for electric vehicles.

50,000: Number of electric vehicles sold since 2011, about 5 percent of President Obama’s goal of 1 million EVs on U.S. roads by 2015.

Go Further

Subscriber Exclusive Content

Why are people so dang obsessed with Mars?

How viruses shape our world

The era of greyhound racing in the U.S. is coming to an end

See how people have imagined life on Mars through history

See how NASA’s new Mars rover will explore the red planet

Why are people so dang obsessed with Mars?

How viruses shape our world

The era of greyhound racing in the U.S. is coming to an end

See how people have imagined life on Mars through history

See how NASA’s new Mars rover will explore the red planet

Why are people so dang obsessed with Mars?

How viruses shape our world

The era of greyhound racing in the U.S. is coming to an end

See how people have imagined life on Mars through history

See how NASA’s new Mars rover will explore the red planet