Reuters: Global Markets: A123 Systems signs second contract in two days, shares up

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A123 Systems signs second contract in two days, shares up Jul 20th 2012, 13:49 Fri Jul 20, 2012 9:49am EDT (Reuters) - Lithium-ion battery maker A123 Systems Inc (AONE.O) said it will supply a 2 megawatt grid energy storage system to China's Ray Power Systems Co Ltd. A123 Systems, which announced a 'going concern' warning in May, said China represents a large market opportunity for its energy storage technology. On Thursday, the company said it signed a deal with BAE Systems Plc (BAES.L) to supply lithium ion battery packs. Shares of the company rose 23 percent to 85 cents in morning trade on the Nasdaq.

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