Tag Archives: lithium ion batteries

Valence (VLNC) Joins Effort To Develop Hybrid Yachts

Valence Technology just announced that the company has joined a team of yachting industry leaders committed to developing a hybrid bluewater yacht and bringing it to market. Other team members include custom yacht builder Foundation Beneteau Yachts, marine diesel engine company Volkswagen AG and Tier 1 driveline integrator ZF Marine. Valence will provide its lithium-ion battery systems for the yachts.

In a press release, Robert L. Kanode, president and CEO of Valence Technology, commented … Read the rest

Valence (VLNC) To Sell Stock To Seaside 88

Valance Technology just announced a deal with private equity firm Seaside 88, according to this article in the Austin Statesman. Under the terms of the deal, Seaside will buy up to 16.9 million shares at a discount from Valence over the next year. Seaside 88 purchased 650,000 shares on Thursday. The deal gives Valence a much-needed cash infusion.

In the Statesman article, Valence co-founder and chairman Carl Berg, who has been largely meeting the cash … Read the rest

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

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 … Read the rest

Arotech (ARTX) Scores 3 Million In Battery And Charger Orders

Arotech just announced that it has received $3 million worth of orders for rechargable lithium-ion batteries, chargers and related components.  Arotech focuses on supplying the military, police departments and private security firms. The chargers will recharge unmanned air vehicles and the batteries will power night-vision goggles.

In a press release, Robert S. Ehrlich, Chairman and CEO of Arotech Corporation, commented on the orders:

“The orders confirm our world-wide customers’ continued satisfaction with our range … Read the rest

General Electric (GE) To Open $100 Million Sodium Battery Plant In NY

General Electric (GE) is out with news this morning that it’s going to invest $100 million to open a manufacturing plant in NY that will produce advanced batteries, including high energy density, sodium based batteries that will be initially used in GE hybrid locomotives.  The goal is to begin producing new batteries in the new facility within 2 years.

Matthew K. Rose, Chairman, President and Chief Executive Officer of Burlington Northern Santa Fe Corporation, … Read the rest

Ribbon Cutting For EnerDel (HEV) Lithium Battery Plant Happens Friday

This Friday at noon, Indiana Senator Evan Bayh will be an honored guest of EnerDel (HEV) at a ceremony marking the commissioning of the country’s first commercial scale production line for lithium-ion battery packs.  To meet anticipated demand, EnerDel plans to expand the plant in Indiananopolis, pack assembly capacity at its Noblesville plant and may expand further through the purchase or construction of a 3rd plant.  Anticipated annual production is currently in the neighborhood of … Read the rest

Green Energy Highlights of Johnson Controls (JCI) Earnings

Johnson Controls (JCI), a conglomerate involved in lithium battery production and building efficiency reported mixed earnings this morning posting an EPS 1 cent better than expectations at a loss of .16 share (it’s the 2nd straight quarter of losses) on revenues of 6.3 billion vs the consensus of 6.93 billion.

Here are some highlights regarding the  green energy segments of its business:

Building Efficiency

– Excluding currency fluctuation, building efficiency sales were down 2% to … Read the rest

A123 Systems Gets Additional GE Funding

General Electric (GE) continues to invest in Michigan based, lithium ion batter maker A123 Systems, providing another $15 million in financing and gaining a seat on the board in exchange.  This follows the recent announcement that A123 Systems was selected by Chrysler to develop lithium batteries for their line of electric vehicles due out in 2013.. assuming of course Chrysler stays in business or is bought out.  GE now owns about 10% of A123 Systems … Read the rest

Ener1 (HEV) Gets Upgrade to Buy From MDB Capital

MDB Capital came out today and upgraded Ener1 (HEV) with a Buy rating and a price target of $5.50.  They believe the shares are compelling down at these levels due to the pipeline of potential customers including the possible reemergence of Think Global later in the year. 

“We are revising our earnings model and now anticipate revenues in 2009 of $41 million (roughly $28 million coming from Enertech) and $77.5 million in calendar 2010. With … Read the rest

Ener1 (HEV) Looks To Tap Into Smart Grid Biz, Hybrid Tanks

According to GreenTech, Ener1 (HEV) which currently manufacturers lithium ion batteries for electric cars is expanding into other markets such as utility grade storage and military applications.  The CEO said at the Jefferies Global Clean Technology conference that they are working with a few utilities on smaller power grid storage units.  On the military side, the company is working on hybrid tanks and unmanned aerial vehicles with potential orders of $7 million.… Read the rest