Johnson Controls Grabs $5.4M Battery Deal
Green Chip Stocks
The United States Advanced Battery Consortium LLC (USABC) has announced it’s awarded a $5.48-million lithium-ion battery technology development contract to Johnson Controls Inc. (NYSE:JCI)
The $5.4 million will be used to aid in the process of developing JCI’s lithium-ion battery technology for plug-in hybrids vehicles. The award is co-funded by the DOE and includes a 50% cost-share by Johnson Controls.
For the duration of the 24-month program, Johnson Controls will spend the bulk of its time researching how to increase the volumetric energy density of hard-cased prismatic cell technology, which was leftover from the last USABC contract award winners. With the improved energy density, volume and mass issues are addressed while also helping drop the price of the battery.
The cells will either be assembled in Johnson Controls Battery Technology Center in Milwaukee or at its lithium-ion manufacturing facility in Holland, Michigan.
The contract is Johnson Controls’ third with the USABC. Johnson had previously worked with USABC on developing batter cell, module and pack technology for plug-in hybrids as well as lithium-ion battery development for hybrid electric vehicles.
This is just another part of the USABC’s goal to aid in developing electrochemical energy storage technologies for use in hybrid, plug-in hybrid, electric and fuel cell vehicles.
Johnson Controls Lands $5.4 Million Battery Deal originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
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