Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > EnerDel, ITOCHU Announce Second Smart Grid Battery Storage Project

Abstract:
Developing a Secondary Market to Lower Battery Costs for Automotive Buyers

EnerDel, ITOCHU Announce Second Smart Grid Battery Storage Project

Indianapolis, IN | Posted on January 19th, 2010

American lithium-ion battery producer EnerDel announced today that it is partnering with the real estate arm of Japan's industrial trading giant, ITOCHU Corporation, to develop and produce the advanced battery systems for a residential smart grid energy storage project to be installed in a major apartment building near Tokyo. The system will provide a critical link between renewable energy, high-speed charging for electric cars and the local utility grid.

It is the second such venture between the two companies, following the announcement last month that they are teaming up with Mazda Motor Corporation on a similar system using vehicles converted to electric drive using a platform designed and built by EnerDel and its partner THINK, which will be stationed at a Family Mart convenience store.

"These are the first projects anywhere in the world to bring all the critical elements of a smart, sustainable network that connects renewable energy and transportation in the places where people live and work," said Naoki Ota, Chief Operating Officer for EnerDel. "It will also demonstrate that EnerDel's lithium-ion battery systems are equally capable, whether it is in a car or a stationary grid application. Our longstanding partnership with ITOCHU has provided the means to set another exciting industry precedent."

We are delighted to be partnering again with ITOCHU to develop this industry leading project," added Charles Gassenheimer, Chairman and CEO of EnerDel parent company, Ener1. "We are pushing hard to drive pioneering initiatives like this to develop a secondary market for automotive grade lithium-ion batteries. I believe this secondary market will be a key enabler to reducing battery costs for automotive buyers and accelerating the growth of the market for electric powered vehicles."

Sales in the five-story building begin this month, with the first move-ins scheduled for early 2011. Going forward, ITOCHU Property Development, Ltd. aims to introduce the 'secondary use' system to twenty percent of its new apartment buildings. Secondary use implies a battery that has been redeployed from its primary application, normally an electric vehicle, with significant storage capacity remaining. The residual life in that battery can then be sold into a secondary market application, such as community or residential grid storage. Importantly, a viable battery aftermarket could lower upfront costs for automotive buyers given that the cost of the battery can be spread over its useful life. Analysts predict that over time this secondary market opportunity for lithium-ion batteries could be two to three times the size of the automotive market opportunity.

The two projects will also gather a continuous stream of long-term performance data on new, stationary battery systems in real time, showcasing system longevity and demonstrating the valuable second life on the grid once battery packs have cycled through their automotive lifecycle, where operating parameters are much more taxing.

Today's announcement underscores the significant strides EnerDel has made in the grid storage market over the last few months. In November, EnerDel was selected to supply the batteries that will power a DOE-funded smart grid energy storage project by Oregon's Portland General Electric (PGE) that will help manage peak demand and smooth the variations in power from renewable sources like wind and solar.

The announced ITOCHU and EnerDel partnered projects signify important steps forward in the growing commercial and strategic relationship between the two companies. ITOCHU is EnerDel's official sales and marketing partner in Japan, and has been a significant investor in parent company Ener1, Inc. since 2003. In July, EnerDel and ITOCHU joined with longtime EnerDel customer THINK to convert electric drive delivery trucks for Japan's postal service.

ITOCHU is a $100 billion conglomerate with deep ties to the automotive, utility and renewable energy industries. It is the largest global reseller of manufacturing equipment for lithium-ion battery production, providing EnerDel with unique access to specialized equipment and materials.

In addition to THINK and Mazda, EnerDel has active relationships underway with automakers Volvo and Nissan. Their battery packs are also being tested by the U.S. Department of Defense in a prototype hybrid Humvee.

SAFE HARBOR STATEMENT

Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially.

####

About Ener1
Ener1 develops and manufactures compact, high performance lithium-ion batteries to power the next generation of hybrid, plug-in hybrid and pure electric vehicles. The publicly traded company (NASDAQ: HEV) is led by an experienced team of engineers and energy system experts at its EnerDel subsidiary located in Indiana. In addition to the automobile market, applications for Ener1 lithium-ion battery technology include the military, grid storage and other growing markets. Ener1 also develops commercial fuel cell products through its EnerFuel subsidiary and nanotechnology- based materials and manufacturing processes for batteries and other applications through its NanoEner subsidiary.

Contacts:
INVESTOR RELATIONS
Rachel Carroll
ENER1 Inc.
Phone: 212 920 3500


MEDIA RELATIONS
Jon Coifman
Waggener Edstrom Worldwide
Phone: 212 551 4815


Copyright © PrNewswire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

UT Dallas engineers twist nanofibers to create structures tougher than bulletproof vests March 27th, 2015

Novel nanoparticle therapy promotes wound healing March 27th, 2015

Designer's toolkit for dynamic DNA nanomachines: Arm-waving nanorobot signals new flexibility in DNA origami March 27th, 2015

Using magnetic fields to understand high-temperature superconductivity: Los Alamos explores experimental path to potential 'next theory of superconductivity' March 27th, 2015

Products

Toronto-based Environmental Technology Pioneer Green Earth Nano Science Expands in EU February 6th, 2015

DELSEY by Philippe Starck DELSEY Launches New Collection by Philippe Starck February 4th, 2015

NEI introduces NANOMYTE® SuperAi, a Durable Anti-ice Coating December 4th, 2014

Biosenta Inc. Updates New Household Disinfectant Testing Results; It Kills 100% of a Broad Range of Deadly Molds, Fungi, Bacteria, and Viruses, Including Ebola and Enterovirus D68 November 20th, 2014

Announcements

UT Dallas engineers twist nanofibers to create structures tougher than bulletproof vests March 27th, 2015

Novel nanoparticle therapy promotes wound healing March 27th, 2015

Designer's toolkit for dynamic DNA nanomachines: Arm-waving nanorobot signals new flexibility in DNA origami March 27th, 2015

Using magnetic fields to understand high-temperature superconductivity: Los Alamos explores experimental path to potential 'next theory of superconductivity' March 27th, 2015

Environment

Young NTU Singapore spin-off clinches S$4.3 million joint venture with Chinese commercial giant March 23rd, 2015

New processing technology converts packing peanuts to battery components March 22nd, 2015

EU Funded PCATDES Project has completed its half-period with success March 19th, 2015

Are current water treatment methods sufficient to remove harmful engineered nanoparticle? March 10th, 2015

Energy

LAMDAMAP 2015 hosted by the University March 26th, 2015

SUNY Poly & M+W Make Major Announcement: Major Expansion To Include M+W Owned Gehrlicher Solar America Corporation That Will Create up to 400 Jobs to Develop Solar Power Plants at SUNY Poly Sites Across New York State March 26th, 2015

Hong Kong Investors Bullish on Dais Analytic Invest $5.75M, Provide $60M Contract, and Create New Joint Venture Company March 26th, 2015

Industrial Nanotech, Inc. Announces Next Large Order from the Oil and Gas Industry March 26th, 2015

Automotive/Transportation

Clean energy future: New cheap and efficient electrode for splitting water March 18th, 2015

Imperfect graphene opens door to better fuel cells: Membrane could lead to fast-charging batteries for transportation March 18th, 2015

Researchers synthesize new thin-film material for use in fuel cells: Article in the journal APL Materials shows how to grow Bi2Pt2O7 pyrochlore, potentially a more effective cathode for future fuel cells March 10th, 2015

Glass coating improves battery performance: To improve lithium-sulfur batteries, researchers added glass cage-like coating and graphene oxide March 2nd, 2015

Home

The Original Frameless Shower Doors Installs DFI's FuseCube™ to Offer Hydrophobic Protective Coating as a Standard Feature: First DFI FuseCube™ Installed on the East Coast to Enable Key Differentiator for the Original Frameless Shower Doors January 29th, 2015

Materials - Next-generation insulation ... January 13th, 2015

Biosenta Inc. Updates New Household Disinfectant Testing Results; It Kills 100% of a Broad Range of Deadly Molds, Fungi, Bacteria, and Viruses, Including Ebola and Enterovirus D68 November 20th, 2014

Iranian Nano Scientists Create Flame-Resistant Polymers September 13th, 2014

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Chemists make new silicon-based nanomaterials March 27th, 2015

New processing technology converts packing peanuts to battery components March 22nd, 2015

NC State researchers create 'nanofiber gusher': Report method of fabricating larger amounts of nanofibers in liquid March 19th, 2015

Drexel Univ. materials research could unlock potential of lithium-sulfur batteries March 17th, 2015

Alliances/Partnerships/Distributorships

NXP and GLOBALFOUNDRIES Announce Production of 40nm Embedded Non-Volatile Memory Technology: Co-developed technology to leverage GLOBALFOUNDRIES 40nm process technology platform March 24th, 2015

Young NTU Singapore spin-off clinches S$4.3 million joint venture with Chinese commercial giant March 23rd, 2015

Halas, Nordlander awarded Optical Society's R.W. Wood Prize: Rice University researchers recognized for pioneering nanophotonics March 21st, 2015

EU Funded PCATDES Project has completed its half-period with success March 19th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE