Massachusetts Loans A123 $5Mil

Funds to be used to expand grid-scale battery development and employe 250 people.

Published: 25-Apr-2010

HOPKINTON -- The state is giving Watertown battery maker A123 Systems a $5 million forgivable loan in return for creating 250 jobs and expanding operations for making large batteries that connect to the electricity grid.

"Number one is job creation," Governor Deval Patrick told a crowd gathered at the company's Hopkinton facility yesterday, where he announced the loan.

Spurring the state's clean technology sector is also a must, he said: "If we get this right, the whole world is our customer."

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