Electro Energy Inc. will receive $1 million in fiscal year 2008 budget funding from the Department of Energy (DOE) to continue development of its patented advanced bipolar wafer cell Nickel-Metal Hydride and Lithium-Ion battery technologies.
The DOE budget, recently approved by the US Congress in the omnibus spending bill and signed into law by President Bush, will provide the company with funding to continue development of its batteries for Plug-In Hybrid Electric Vehicle (PHEV) and other advanced vehicle applications.
Electro Energy will use the funding to optimize and demonstrate large format wafer cell battery systems for these advanced vehicle applications and to begin moving toward commercialization of a new generation of lighter, smaller and safer batteries with increased energy, reduced cost, and higher power capability for vehicle applications.
Electro Energy has applied its bipolar NiMH technology in a first-generation, proof-of-concept PHEV application. The prototype, non-optimized 6.0 kWh NiMH PHEV was projected to give the vehicle a theoretical all-electric range (AER) of more than 20 miles. (Earlier post.)