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A123 Systems Goes Up in Smoke But Lithium Batteries Rise from Ashes

File under Another One Bites the Dust: the innovative lithium-ion battery maker A123 Systems has just declared bankruptcy. Since the company received a hefty loan from the Department of Energy under the Obama Administration, that makes it a legit political football, especially on the eve of the second presidential debates. Indeed, the predictable kick was swift in coming, but as the ball goes flying down the field, the important thing to watch for is where it lands, and who makes the catch.

lithium ion company A123 Sytems goes bankrupt
Romney and Obama Trade Barbs over A123 Bankruptcy

As always, our friends over at The Hill have done a great job of keeping up with the political action. Under the header “Romney pounces,” The Hill’s Ben Gemen quotes presidential Mitt Romney claiming that the A123 Systems bankruptcy represents a “disastrous strategy of gambling away billions of taxpayer dollars.” Gemen is careful to note, though, that the 2009 loan was supported by Republicans in Congress as well as Democrats.
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