A123 Systems will file an IPO by September. Scott Kirsner writes today that, according to "two unnamed sources with close ties to A123 Systems" the battery company has nearly completed it's IPO filing and is merely waiting out the arrival of its first quarter numbers before licking the stamp and sending the S-1 off to the SEC sometime in the next month. A123 reportedly has a valuation topping $1 billion. There's a reason these guys are number one. Kleiner Perkins will announce today the formation of the ominously named KPCB XIII, a $700 million early-stage fund with a pie slice reserved for greentech ventures. KPCB XIII is separate from the $500 million "Green Growth" fund Kleiner is also raising. This divergence highlights an increasingly large trend among greentech-oriented VCs - the majors are raising increasingly large funds devoted to late-stage private, public, project finance, and debt investing in companies that already have products and revenue. While Kleiner is, at it's heart, an "early stage" firm, according to partner Brook Byers, the late-stage focus in new greentech investments "will be a different financing path than venture companies have historically been used to taking," says Ben Kortlang, a recent Kleiner pick-up from the energy desk at Goldman Sachs. One of my favorite things about going to greentech- and energy-related invents is the all the free swag oil companies give away. Shell traditionally has some of the best stuff. Which is why it comes as no surprise to learn that Shell is backing out of its 33 percent stake in the world's largest offshore wind farm. The $4 billion London Array, which would have generated more than 1 GW for the British grid is now on the ropes, leaving project partner E.On holding the bag. E.On CEO Paul Golby commented "Shell has introduced a new element of risk into the project which will need to be assessed. The current economics of the project are marginal at best - with rising steel prices, bottlenecks in turbine supply and competition from the rest of the world all moving against us." Shell has joined BP in ditching renewables in favor of developing tar sands, oil shale, and Skittles to take advantage of rising oil prices.