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Ener1 CEO and Chairman Charles Gassenheimer certainly isn’t afraid to talk up the li-ion battery work that battery subsidiary EnerDel is doing. It looks like the U.S. federal government is also willing to get behind the lithium-ion research going on in Indianapolis. The U.S. Department of Defense has awarded EnerDel a $4 million research and development contract for work that should:

  • create lightweight, high-performance battery solutions for real-time tracking of vital military assets in harsh climates, and
  • create high-energy batteries to power miniature unmanned aerial vehicles (UAVs), increasingly critical to battlefield troops.

Just think, your Th!nk could be powered by the same battery that flies around and kills people, although perhaps not - does an EV need a “severe-duty” battery? Probably not. More details after the jump.

[Source: EnerDel]

Continue reading EnerDel gets $4 million from the Feds for military li-ion battery

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Ener1 has been in the news quite a bit these last few weeks, and new CEO (and former and current Chairman) Charles Gassenheimer thought it prudent to write a letter to shareholders about the current status of the company and the future of li-ion batteries in the automotive market. Some of the highlights of things we haven’t covered recently include:

  • Gassenheimer believes that each dollar Ener1 invests in the automotive battery subsidiary EnerDel will “return between $4.00 and $6.00 in revenues annually.” Gassenheimer says carmakers will need $150bn worth of li-ion batteries each year at some point in the undefined future. Domestic automakers “will require, or at least have a firm preference for, domestically manufactured batteries.”
  • Nonetheless, future battery plants will of necessity be located around the world.
  • Ener1 and EnerDel are poised to use their “first-mover” advantage in li-ion battery tech which was gained by supplying the 27 kWh packs for Th!nk.
  • Ener1’s shareholder equity was $35m at the end of June.

You can read the entire letter after the jump.

[Source: Ener1]

Continue reading Ener1 CEO paints rosy future for li-ion battery technology

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