How valuable are green fuel systems in the automotive development world?

The open market is getting an answer Wednesday when the price is set for the initial public stock offering for A123 Systems - recent winner of $249 million in federal energy grants to develop technology with connections to the University of Michigan.

Pricing per share had been estimated at $8 to $9.50 - but now, buzz on the company and its recent progress is pushing the estimated price to $10 to $11.50, according to an article on Monday in the Wall Street Journal.

The offering also has been called a "bellweather" for cleantech investments, since it's the first IPO for a venture-backed cleantech company in 2009, according to an article in Mass High Tech.

A123 Systems acquired Ann Arbor's T/J Technologies in 2006. Since then, the company has been speeding toward bringing lithium-ion batteries into the realm of mass production, along with at least eight automotive industry partners.

In April, the Massachusetts-based company announced it would develop a $600 million production facility in Livonia, thanks in part to state tax credits. That - plus the federal grants and additional funding - give it at least 100s of millions in its financial arsenal.

T/J Technologies co-founder Maria Thompson - who partnered with her husband, Levi Thompson, to build the company - remains with the company as president of A123's Government Solutions Group, still based in Ann Arbor.

The IPO will offer 25 million shares of common stock. An additional 680,000 shares will also be offered by senior management officials, according to the company's SEC filing. The IPO is expected to generate at least $250 million.

The stock will be listed on NASDAQ under the symbol AONE.