A123Systems announced it has raised $69 million from General Electric and other investors to accelerate the expansion of its US lithium ion battery manufacturing and smart grid capabilities. The funding will support A123’s efforts to develop applications for the smart grid, such as utility-scale energy storage. Mark Little, GE’s Senior Vice President and Director GE Global Research, will join A123’s board of directors.
GE Energy Financial Services and GE Capital’s Equity unit provided $15 million of the amount raised by A123 in this financing. This is GE’s seventh investment in A123, making it the company’s largest cash investor and bringing GE’s cumulative investment to $70 million – increasing its ownership stake to more than ten percent.
In addition to the private capital, A123 is seeking funds under federal and state stimulus and other programs to ramp up its production capabilities in Michigan. The company’s planned production facilities would be capable of supplying battery systems for five million hybrid electric vehicles or a half-million plug-in electric vehicles per year by 2013.
“We’ve accelerated our plans to expand our US manufacturing. We do not believe our country can afford to wait to develop advanced batteries,” said David Vieau, A123Systems’ President and Chief Executive Officer. “With this financing, we will begin an expansion that we expect to accelerate upon receipt of government funds. This expansion would create jobs and enable innovation.”
“A123 has broken through many technical and engineering barriers to advance lithium ion batteries to commercial applications,” said GE Chairman of the Board and CEO Jeff Immelt. “As a company also focused on technology innovation, GE is excited to expand our relationship with this close and long-time partner. GE’s capital, resources and technology expertise will help A123 scale up faster and more efficiently.”
The manufacturing plants are expected to produce battery cells and systems to meet the needs of A123’s broad automotive customer portfolio, which includes several vehicle manufacturers and 19 vehicle models - ranging from hybrid electric vehicles to electric vehicles. A123 was recently awarded battery development and supply contracts for Chrysler’s first generation electric vehicle line-up and the Chinese automaker SAIC Motor Corp.’s new hybrid vehicle models, both scheduled to debut in 2010. A123’s plants are also expected to produce batteries for smart grid applications and grid stabilization.
Beyond providing capital, GE, through GE Global Research, provided system design expertise and supported A123’s stationary power product development for electric grid applications, and helped to design battery system components for A123’ automotive programs.
“The advanced battery market is at a tipping point, and our support of A123 marks the application of GE’s resources at the right time to capture leadership in an essential new field,” said Little. “Our resources, engineering and R&D capabilities will have the potential to play an important role as A123 scales up its operations at this critical juncture. I look forward to joining A123’s Board of Directors and working closely with the company’s experienced team.”
GE’s support of A123 is part of its initiatives on smart grid and ecomagination — the company’s commitment to help its customers meet their environmental challenges while expanding its own portfolio of cleaner energy products.
A123 was born out of the research labs of the Massachusetts Institute of Technology and was funded initially with a $100,000 grant from the US Department of Energy in 2001. Among the companies using A123 batteries, battery systems and technology in the fields of transportation, grid energy storage and portable power are AES, BAE Systems, Better Place, Black and Decker, Cessna, Chrysler, Daimler, Delphi, Duke Energy, General Motors, Google.org, LADWP, Madison Gas and Electric, Magna Steyr, Mercedes Benz High Performance Engines, Procter and Gamble, Sempra and Volvo Truck. Other investors in this round of funding include Conoco Phillips, Detroit Edison, Espirito Santo Ventures, North Bridge, CMEA, Alliance Bernstein, Qualcomm, Sequoia, Novus and MIT.
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April 14th, 2009 in
Automobile,
Energy | tags:
A123,
Battery,
Better Place,
Energy,
energy storage,
GE,
ge energy,
hybrid electric vehicles,
lithium ion battery |
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Gadget guide Gearlog has put together an excellent postabout the Top 10 green cars shown at the New York auto show.
The by far most extravaganz concept is the GM/Segway PUMA.
The Project PUMA (Personal Urban Mobility & Asscessiblity) seated-not-standing vehicle is a self-balancing, two-person rickshaw with an electric motor and lithium-ion batteries replacing the coolie.
Check out the article for a picture of the PUMA and 9 other fine automobiles that will hopefully change the world.
Tesla Motors is opening its first European sales and service center in London. The first of three stores in Europe that the electric vehicle manufacturer plans to launch this year.
Tesla is also scouting sites in Munich (Germany) and Monaco. Tesla says it will begin delivering cars to European customers in late June. These cars will comply with all EU safety, environmental and durability regulations.
“We expect that Tesla sales will eventually be split evenly between the US and Europe,” said Tesla CEO, Chairman and Product Architect Elon Musk. “Opening three Tesla stores in Europe this year is a critical part of that plan.”
Greater London is a key customer market and premier showcase for Tesla – not only for the Roadster sports car but the Model S sedan, which Tesla expects to produce in 2011. The Model S, which will be among the world’s first mass-produced, highway-capable EVs, will carry five adults and two children up to 480 kilometers per charge.
Teslas qualify for a $7,500 US federal tax credit and enjoy incentives in several European countries and cities, including waivers of luxury tax, reductions in VAT, free parking and free charging. In London, Teslas are exempt from the congestion charge, a saving of up to £2,000 per year for commuters.
You’ll find the whole story in the press release.
The Swiss auto powerhouse Rinspeed presented the ‘iChange’ at the Geneva Motor Show 2009. It is the world’s first car whose body adapts to the number of passengers on board. For Rinspeed boss Rinderknecht the vehicle is more than just a clever concept car. “The „iChange“ is a symbol for the fundamental changes the auto industry undergoes worldwide. And it is clear that only those companies will survive that have innovative answers for the demands of a new automotive era.”
The visionary Rinderknecht is convinced that the days of gas-guzzling behemoths are coming to an end: “The „iChange“ is a signal for the coming global changes to individual mobility. We need to be ready to meet these challenges with new ideas.” In seconds a streamlined one-seater sports car transforms into a comfortable car with ample room for
three. The trick: At the push of a button the rear end of the teardrop-shaped car magically pops up. “We have designed and built an extremely flexible vehicle. In it we have brought the themes of versatility and continually changing energy demands to their logical conclusions.” The result is a streamlined, lightweight zero-emission car with dramatically reduced energy consumption.
Read the rest of this entry »
The supplier of electric energy Elektrizitätswerke Schönau (EWS), located in Schönau im Schwarzwald in Germany set itself the target of offering electricity from renewable energies and to renounce electricity from nuclear and coal-fired power stations completely. The EWS evolved from a citizens’ initiative, which formed due to the nuclear incident in Tschernobyl 1986. After two citizen decisions 1991 and 1996 the EWS succeeded in buying the local electricity network from the former electricity supplier for 6.5 million D-Mark. The financing of this high amount was only possible by a spectacular country wide appeal for funds, which did not only made the purchase possible but also showed that every „little“ citizen can achieve something.
The citizens of Schönau completely produces their electricity themselves by block heat and power plants and photovoltaic power supplies. The spare electricity is sold along. Since the liberalisation of the electricity market in Germany in 1998 the EWS offer everyone their electricity country wide for a competitive price. In order to cover this increased demand for electricity, the EWS exclusively buy additional electricity from independent electricity producers, which do not have any financial participation in nuclear power plant operators or their subsidiaries and produce their electricity from new installations of renewable water power and climate friendly cogeneration of heat and power. This is even certified by the german TÜV an independant service provider for ensuring quality, security und reliability. By the „Sun-Cent“ which is included in the electricity tariff the development of new environment-friendly electricity plants is promoted, in particular that of private persons, who otherwise could not operate these plants economically.
Further information about the history, the support program and the method of changing your power supply provider you will find on their website.
This article was thankfully written by guest author Timm Frenzel. If you are interested in writing an article for Allternatives please contact me.
January 25th, 2009 in
Energy | tags:
electricity,
electricity market,
electricity producers,
electricity supplier,
Energy,
EWS,
Germany,
power,
power plants,
schönau im schwarzwald |
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All the news coverage about the Greeny - VisionGreen’s ecological friendly car - is from 2007. The website still promises change.
Cars without emissions, eco-houses and green cities, clean air and healthy people, new ways and fresh thinking. That’s what we dream of and what we work for - day and night and sometimes in-between.
Do sustainable living and having fun go together? Can we embrace responsibility and enjoy beauty? Dare dreams and create realities?
Yes, we can! That’s why we want to challenge us and others every day to step out and free our minds from stuffy drawers and old prejudice, from resignation and inaction, from senseless norms and silly conventions. Instead we trust our strengths, our vision and our reason to make our world a little greener.
Sometimes many little things can indeed make huge changes.
Come and join us – join the revolution.
Source: VisionGreen
What’s the status of this company and its first product? I haven’t seen a single Greeny on the roads, yet. Does anyone have news?
The all new third-generation 2010 Prius Hybrid automobile is a continuous development of its predecessors based on the Hybrid Synergy Drive. Its estimated EPA rating is 50 mpg/combined with the new 1.8L Atkinson-cycle engine that has no efficiency-robbing accessory-drive belts. Its performance is significantly improved. A smaller battery-control module and other space-saving strategies gives passengers more space for themselves and for luggage. Drivers can select four driving modes: Normal, EV, Eco and Power. In “EV” mode the car usually runs on battery power only. “Eco” restricts the throttle and reduces acceleration with an aim toward increasing fuel economy. “Power” enhances engine responsiveness, which helps drivers merge onto freeways.
You can get solar roof panels fpr your 2010 Prius which power a ventilation fan that reduces interior temperatures. You can activate the air-conditioning system as you approach your Prius so that the interior isn’t scorching hot when you get to your Prius.
An optional Pre-Collision Safety System determines you are heading for a collision that is unavoidable. The system retracts seatbelts, prepares brake assist and readies air bags. An optional Lane-keeping-Assist system can alert you if the car is drifting out of your lane. An optional Intelligent Parking Assist system allows the Prius to virtually parallel-park itself with minimal driver intervention.
All the system and assistants sound a bit like the future. I hope the hybrid technology will become the future very soon. It makes totally sense and if you are thinking about getting a new car consider one with a MPG of at least 45 miles!
My hometown Berlin is applying for the seat of the IRENA agency which I totally support!
Its supporters define IRENA as the following:
IRENA aims at becoming the main driving force in promoting a rapid transition towards the widespread and sustainable use of renewable energy on a global scale. Acting as the global voice for renewable energies, IRENA will provide practical advice and support for both industrialised and developing countries, help them improve their regulatory frameworks and build capacity. The agency will facilitate access to all relevant information including reliable data on the potential of renewable energy, best practices, effective financial mechanisms and state-of-the-art technological expertise.
IRENA will develop comprehensive solutions, such as fostering all types of renewable energy, and consider various renewable energy policies on the local, regional, and national level. Additionally, IRENA will consider the specific environmental, economic and socio-cultural conditions. Lastly, it will involve stakeholders from the energy industry, academia, institutions and civil society. IRENA will regularly consult and cooperate with organisations and networks already engaged in the field of renewable energy in order to complement and pool their work resources, hereby creating added value.
Learn more about IRENA on the website created by the German government about the IRENA Conference.
