Batteries

Electro Energy Inc (EEEI) announced that the Fiscal Year 2005 budget for the U.S. Department of Energy, signed earlier this month by President George Bush, provides $2 million for the continued development of bipolar nickel- metal hydride batteries for energy storage applications. "The funding provided by the U.S. Congress in the 2005 DOE budget will allow us to continue the development of batteries for utility energy storage applications, including power regulation, and bulk energy storage..." stated Martin Klein, Electro Energy's CEO. "This source of funds is a significant complement to the funds we have raised in our recent...

by Debra Fiakas CFA Earlier this year, we added metal air batteries and the companies who are working to commercialize the technology on our list of promising acts to follow.  The Israeli battery developer, Phinergy, was added to our Mothers of Invention Index.  Back when I wrote the post “More in the Air than Spring” back in April 2013, Phinergy had attracted a bit of attention for a road test of Citroen C1 car outfitted with a technology far different than conventional lithium ion.  No one knows Phinergy.  It is too small and too foreign to impress...

By Jeff Siegel Last week, Tesla (NASDAQ: TSLA) announced that its next electric offering a competitively priced electric vehicle will hit the market in 2017. Dubbed the Model III, the 200-mile-range electric vehicle will go for $35,000. Certainly this was big news for electric car enthusiasts particularly those who can't afford an $85,000 Model S but yearn to drive one. But if you regularly follow trends in the electric vehicle space, at least the way I do, you know Tesla's announcement was just one of many big moves in the space over the...

Altair Nanomaterials (ALTI) announced that its battery research and development team successfully completed a testing program for lithium ion battery cells containing Altairnano's nano-structured lithium titanate electrode materials. "The test results demonstrated that the performance of these lithium ion battery cells exceed the system-level power requirements set forth by the U.S. Council for Automotive Research FreedomCAR Energy Storage System Performance Goals for hybrid electric vehicle (HEVs), as well as those requirements published by major U.S. automakers," said Evan House, Ph.D., Program Director, Altairnano's Advanced Materials & Power Systems business unit. These batteries demonstrate a useable state-of-charge...

John Petersen March is Motor Show time in Geneva and it was fascinating to witness the shift in emphasis away from plug-in vehicles as European automakers highlighted their accomplishments in fuel efficiency technologies like HEVs, micro-hybrids and dual fuel drivetrains that can switch back and forth between gasoline and compressed natural gas. While there were modest displays for Tesla (TSLA), Fisker and other emerging brick-makers, and space was set aside for the obligatory plug-ins that most real manufacturers are toying with, the substantial majority of front-line vehicles at display entrances and halo cars on turntables were HEVs...

VRB Power Systems (VRB.V) has completed the assembly and has commissioned the 30kW x 2 hour system for the South Carolina Air National Guard (SCANG). This system will be used for back-up power and to provide power quality enhancement for a tactical radar system in the event of grid disruption. The SCANG VRB-ESS will also be evaluated for widespread adoption in other military applications. This unit is awaiting final delivery instructions from the customer and is expected to ship shortly. Tim Hennessy, CEO of VRB Power said "This is an important milestone for VRB Power. The delivery of...

John Petersen I've been writing about the rapidly evolving market for manufactured energy storage devices in grid-based applications since last August when I published Grid-based Energy Storage: Birth of a Giant. At the time, only a handful of smaller public companies were working on grid-based storage solutions including Maxwell Technologies (MXWL), Beacon Power (BCON), Altair Nanotechnologies (ALTI), Active Power (ACPW) and Axion Power International (AXPW.OB). Last November, France's Saft Group (SGPEF.PK) announced a partnership with Switzerland's ABB Group (ABB) to develop and commercialize utility scale solutions. Yesterday, General Electric (GE) joined the fray when it announced plans to...

by Debra Fiakas CFA Most investors probably pass over specialty chemical producer OM Group, Inc. (OMG:  NYSE).  It has a recent history of losses and by the usual multiples of sales and earnings its stock appears pricey.  I have taken a second look.  The modernization of the chemicals industry is a key step in attaining a sustainable and environmentally benign economy. OM Group has undertaken an ambitious reorganization.  Besides specialty chemicals, the company produces advanced materials and technologies for a variety of industries.  OM Group has held leading positions in cobalt-based and nickel-based chemicals.  Its advanced materials...

by John Petersen Last month the DOE released its 2008 Annual Progress Report for the Energy Storage Research and Development Vehicle Technologies Program. This report is a frank and relatively upbeat assessment of the current status of Li-ion battery research and development that also provides a stark wake-up call for investors in energy storage stocks. The reality check has been done and the DOE’s verdict is clear: Lithium-ion batteries are not ready for prime time. In its description of ongoing research efforts to develop high-power batteries for HEVs, the DOE said: “High-power energy storage devices...

By Jeff Siegel Does Bob Lutz like Tesla (NASDAQ: TSLA) or not? The bigwig car exec who probably knows more about the car industry than practically anyone else, has certainly tipped his hat to the electric car-maker and to Elon Musk, but when it comes to the stock, he's perpetually bearish. Of course, I've yet to find anyone who can really make sense of the stock. On a technical basis, it's pretty much always been valued at levels that never really coincided with the reality. But the Tesla story has never been about just the technicals. Tesla's valuation...

Much of the buzz in the energy storage sector is focused on DOE administered subsidy programs and what they will mean for investors in smaller public companies. The buzz began when Title XVII of the Energy Policy Act of 2005 ("EPACT") authorized $2 billion in loan guarantees for innovative energy technologies. It ramped up rapidly when the Energy Independence and Security Act of 2007 authorized another $2.5 billion in loan guarantees under the Advanced Technology Vehicles Manufacturing ("ATVM") program. It reached a crescendo when the American Recovery and Reinvestment Act of 2009 ("ARRA") authorized $7 billion in smart grid,...

Meg Cichon The renewable energy market has been slowly strengthening ties with energy storage, and it now seems to be tying a secure knot. Wind and solar developer SunEdison (SUNE) announced today that it bought the energy storage team, projects and 100-MW pipeline of Pennsylvania-based Solar Grid Storage (SGS). SunEdison is now able to offer integrated battery storage solutions for its renewable energy project portfolio, and delve into an energy storage market that is set to grow 250 percent in 2015, according to a new report from the Energy Storage Association and GTM Research. The solar plus battery...

Arotech Corporation (ARTX) announced that its Batteries and Power Systems Division has received a second development contract from a major US agency. Under the contract, Arotech's Electric Fuel Battery Corporation subsidiary will develop prototype zinc-air batteries for small unmanned aerial vehicles (UAVs) to achieve extended flight times. The funding is expected to cover development costs.

John Petersen It's no secret that I think plug-in electric vehicles are unconscionable waste and pollution masquerading as conservation. To support my opinions, I've published an easy to follow Excel spreadsheet that shows why plug-ins are 5x to 6x less effective than HEVs when it comes to reducing national gasoline consumption and 9x to 12x less effective than HEVs when it comes to reducing national CO2 emissions. To date, the only challenges to my analysis have come from die-hard EV fanatics who seem to believe battery factories grow on trees and raw material supply chains sprout like flowers...

John Petersen In three years of writing about investing in energy storage, I’ve learned that most public relations nightmares encountered by battery companies are self-inflicted wounds. They do an appalling job of managing the expectations of investors and potential customers. Then, when the inevitable delays, disappointments and cost overruns arise, everybody suffers. It may not be their fault, but it is most certainly their problem. Most of my long term readers have seen this timeless and blistering 1883 Thomas Edison quote: “The storage battery is one of those peculiar things which appeals to the imagination, and...

John Petersen On Wednesday a reader sent me a new Goldman Sachs research report on the advanced battery sector titled "Advanced Batteries: Light, but the tunnel is long; Buy ENS, HEV Neutral, AONE Neutral." If the essence of legal argument is "the plausible boldly asserted," then I'd suggest that the essence of sell-side analysis must be "the implausible accepted without question." While I agree with Goldman's conclusions that Enersys (ENS) is a bargain at the current price and caution is best when it comes to A123 Systems (AONE) and Ener1 (HEV), I have major problems with their assumptions...