A123 Systems (AONE) Higher; Signs New Supply Agreement with Mid-Continent Instrument Unit
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A123 Systems (Nasdaq: AONE) shares are higher Wednesday following an announcement that the company has entered into a new agreement.
From the release:
"Mid-Continent Instrument Co., Inc. announced that it has further strengthened its True Blue Power division by signing a distribution and supply agreement with A123 Systems, Inc. by which Mid-Continent will offer A123's advanced Nanophosphate lithium-ion battery technology for aviation applications.
True Blue Power, which was announced in March 2011, initially began by offering two inverters and the TS835 Emergency Power Supply (EPS), the industry's first FAA TSO-approved EPS to feature A123 technology. Lithium-ion battery technology offers stable chemistry, faster charging, consistent output, excellent cycle life and superior cost performance. Under the agreement with A123, True Blue Power will provide lithium-ion cells, modules and custom power solutions to the aviation community."
From the release:
"Mid-Continent Instrument Co., Inc. announced that it has further strengthened its True Blue Power division by signing a distribution and supply agreement with A123 Systems, Inc. by which Mid-Continent will offer A123's advanced Nanophosphate lithium-ion battery technology for aviation applications.
True Blue Power, which was announced in March 2011, initially began by offering two inverters and the TS835 Emergency Power Supply (EPS), the industry's first FAA TSO-approved EPS to feature A123 technology. Lithium-ion battery technology offers stable chemistry, faster charging, consistent output, excellent cycle life and superior cost performance. Under the agreement with A123, True Blue Power will provide lithium-ion cells, modules and custom power solutions to the aviation community."
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