Electro Energy Gets Funding from New DOE Budget

Electro Energy Inc., a Danbury, Connecticut-based developer and manufacturer of advanced rechargeable batteries, will receive $2 million in continued funding from the fiscal year 2005 budget for the U.S. Department of Energy, signed by President George W. Bush, for development of bipolar nickel-metal hydride (NiMH) batteries for energy storage applications.

Electro Energy CEO Martin Klein says, “The funding provided by the U.S. Congress will allow us to continue the development of batteries for utility energy storage applications, including power regularion and bulk energy storage.”

Electro Energy has a NiMH program managed by DOE’s Sandia National Laboratory and in collaboration with utility company First Energy in Akron, Ohio. It also is developing high-powered, rechargeable bipolar NiMH batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications.