Government Set To Award Advanced Battery Stimulus Funds: Watch Ener1 (HEV)

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01:18:01 am on August 5, 2009

Tomorrow morning the government will announce the recipients of $2 billion in stimulus funds for advanced battery research and development.  Privately held A123 Systems is expected to receive a portion of the funds and publicly traded Ener1 (HEV) may receive funds as well which could give a boost to the stock tomorrow.  VP Joe Biden is expected to announce the winners in an event in Detroit while Energy Secretary Steven Chu is expected to visit Celgard LLC, which supplies materials used for lithium ion batteries.  $1.2 billion in funds will go to battery manufacturing companies, while $800 million will go to companies providing materials for batteries.

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