Most analysts say plug-in hybrid vehicles are likely still five to seven years away from significant production, but International Battery is already positioning itself to be a major supplier of power for those cars. Last week the Allentown-based manufacturer submitted an application for a grant from the U.S. Department of Energy (DOE) under the Recovery Act for its Electric Drive Vehicle Battery and Component Manufacturing Initiative–Project American Lithium.
International Battery’s Allentown facility–the first large-format lithium battery factory in the U.S.–employs 55, but the DOE grant would push IB to maximum capacity with more than 200 added green-collar jobs. The company recently raised $10 million in a round of Series B financing to support ongoing expansion and marketing.
IB’s manufacturing of lithium batteries is based on the concept of providing energy with adequate power. Using a water-based process rather than solvents, the company believes it is the only one in the U.S. to manufacture batteries in an inherently green manner.
“Other companies focus more on power and less on energy,” says IB CEO Ake Almgren. “We believe that truly large format prismatic lithium ion batteries have an advantage when it comes to energy.”
IB is able to keep product costs in check because in its battery system, cells are monitored individually, requiring significantly less wiring and connectors.
“We are a great fit for hybrid buses, trucks and specialty vehicles,” says Almgren. “Since wind and solar are intermittent we will need to use more energy storage to better balance generation and consumption. The batteries of plug-in hybrids are a good place to store the renewable energy.”
Source: Ake Almgren, International Batteries
Writer: Joe Petrucci