Today in Cleantech

How do investors love and hate A123? Let us count the ways… with a dumptruck full of news from the lithium ion battery maker yesterday, it would appear that growing second-quarter losses and lower-than-expected revenues drove reactions, as A123’s stock fell to $10, down 53 percent so far this year. A123 also said it was backing out of a deal to supply batteries to Chrysler’s much-diminished EV program, as Earth2Tech’s Josie Garthwaite noted. While it still has its deal with Fisker Automotive, A123 faces heavyweight competition in the automotive sector from Asian competitors like LG Chem and Panasonic, as Greentech Media noted. While A123 did win a DOE grant to build its batteries, so has Johnson Controls, which has much deeper pockets and automotive experience, Dow Jones Newswires pointed out. As for the future, A123 said it had an unspecified project underway with an unnamed automaker — not exactly news you can take to the bank. What about grid storage? A123 announced a new spinout called 24M Technologies aimed at that market, with hopes to have a disruptive technology ready by late this decade. But at the same time, A123 lowered its estimate of how much of a role grid storage would play in its busines going forward, even as it solidified orders with existing customer AES.