A123 Systems, Inc. tried to commercialize LFP and ended up in bankruptcy court. I estimate A123 spent more than $300.0 million on research, development and engineering activities since the company was founded in 2001. A123 did not begin spending heavily on production capacity until after the company’s first product launch in 2006. At the end of June 2012, A123 reported just over $145 million in property, plant and equipment net of accumulated depreciation and government grant off-sets. Gross property, plant and equipment on the balance sheet at the end of June 2012, was $425 million, matching closely the $419 million reported capital spending in the last six and a half years. The company claimed manufacturing capacity to produce 645 megawatts annually.