General Electric Co. holds a 10 percent stake in A123 Batteries Inc., a Boston-area company developing lithium batteries for hybrid-electric vehicles, power tools, and other devices requiring bursts of power.
A123 Batteries filed this month for a $175 million initial public offering of stock.
In early 2007, Fairfield-based GE and Cincinnati-based Procter & Gamble Co. participated in a $40 million investment in A123, with P&G”™s Bethel subsidiary Duracell working with A123 on applications of its technology for portable devices.
P&G was not listed among A123”™s major investors, however, in a filing with the Securities and Exchange Commission.
