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Market: NASDAQ
Sector: Industrial Machinery
EPIC: HEV
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Ener1
www.ener1.com/?q=content/ener1-main

In the automotive industry and the energy sector as a whole, we are seeing an important paradigm shift. Ener1 is at the forefront of performance and efficiency-harnessing technologies for the automotive industry and beyond.

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Ener1To Develop Utility Scale Lithium-ion Energy Storage For US govt Smart Grid program

25th Nov 2009, 2:38 pm
Ener1To Develop Utility Scale Lithium-ion Energy Storage For US govt Smart Grid program

Ener1 Inc (NASDAQ: HEV) lithium-ion battery manufacturing subsidiary EnerDel announced it will participate in the development of a new smart grid program, which was unveiled by the US Department of Energy (DoE). EnerDel will manufacture utility-scale energy storage using its lithium-ion battery technology, for five one-megawatt power systems.

Ener1 Inc is based in Indianapolis and has the only lithium-ion battery manufacturing facility of its kind in the US. Ener1 lithium-ion battery technology is also being developed for the automobile industry, military applications and other growth markets. Additionally Ener1 has operations in nanotechnology-based applications through its NanoEner subsidiary.

The power systems are being developed by Portland General Electric (NYSE: POR), with the smart grid element planned to manage peak energy demand and smooth variations in power from renewable sources.

The project is one of 16 similar projects announced as part of the DoE’s $178 million scheme, which is being funded through the federal stimulus package enacted in February.

Each of the five EnerDel battery systems will store enough energy to power roughly 400 average American homes simultaneously for up to an hour at a time. The large scale energy storage utilizes the same core chemistry as the existing EnerDel batteries, which are designed for the new generation of plug-in hybrid electric vehicles.

Energy storage technology is considered to be a particularly important issue in the development of renewable energy technologies, as they generally provide intermittent output. EnerDel said the utility scale energy storage would be a ‘crucial tool’ for enhancing the reliability and availability of intermittent energy sources like wind and solar.

EnerDel’s Chief Technology Officer, Cyrus Ashtiani commented on the company’s latest development: "We expect this sector to be a major growth area for the battery industry. This program is a breakthrough opportunity for EnerDel to prove the capabilities of our systems in partnership with one of the most innovative electric utilities in the country."

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