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Electro Energy Awarded U.S. Air Force Contract for Continued Development of High Performance Rechargeable Batteries
Electro Energy Awarded U.S. Air Force Contract for Continued Development of High Performance Rechargeable Batteries
Electro Energy Inc. (NASDAQ: EEEI), a leading
provider of advanced battery technologies and associated systems, announced
today a contract award of $750,000 sponsored by Air Force Research
Laboratory (AFRL) to continue development of ultra-high energy density,
rechargeable, lithium battery chemistry for Air Force applications.
The U.S. Air Force SBIR Phase II contract award identifies a nanocomposite,
rechargeable, lithium battery cathode material providing high-specific
energy, and Electro Energy's proprietary cell design to develop a more
powerful, compact, rechargeable battery. A nanocomposite electrode
fabricated with a metal fluoride, when fully developed, is expected to
provide packaged batteries with specific energies of 400-500 Wh/kg, twice
the energy of today's state-of-the-art lithium-ion polymer cells. This
battery technology would address the serious energy and performance
limitations of currently available batteries and would be applicable to
many military applications and a variety of commercial markets.
About Electro Energy Inc.
Electro Energy Inc, headquartered in Danbury, Connecticut, was founded in
1992 to develop, manufacture and commercialize high-powered, rechargeable
bipolar wafer cell nickel-metal hydride batteries for use in a wide range
of applications. Its Colorado Springs operation is AS9100/ISO9001
registered and supplies aerospace-grade high quality nickel cadmium
batteries and components for satellites, aircraft and other specialty
applications. EEEI is also developing high-power lithium rechargeable
batteries utilizing the Company's proprietary bipolar wafer cell design.
EEEI owns significant manufacturing assets near Gainesville, Fla for
rechargeable lithium ion 18650 cylindrical cells, the standard cell used in
the electronics industry. For further information, please visit
www.electroenergyinc.com.
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of 1933
and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to
the safe harbor created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and objectives of
the companies, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will prove to
be accurate and actual results and future events could differ materially
from those anticipated in such statements. Factors that could cause actual
results to differ materially from those in the forward-looking statements
include, among other things, the following: general economic and business
conditions; competition; unexpected changes in technologies and
technological advances; ability to commercialize and manufacture products;
results of experimental studies; research and development activities;
changes in, or failure to comply with, governmental regulations; and the
ability to obtain adequate financing in the future. This information is
qualified in its entirety by cautionary statements and risk factors
disclosure contained in certain of Electro Energy Inc.'s Securities and
Exchange Commission filings available at http://www.sec.gov.
DFAR 252.235-7010 Acknowledgment of Support and Disclaimer:
(a) The Contractor shall include an acknowledgment of the Government's
support in the publication of any material based on or developed under this
contract, stated in the following terms: This material is based upon work
supported by the AFRL under Contract No. FA8650-08-C-2863.
(b) All material, except scientific articles or papers published in
scientific journals, must, in addition to any notices or disclaimers by the
Contractor, also contain the following disclaimer: Any opinions, findings
and conclusions or recommendations expressed in this material are those of
the author(s) and do not necessarily reflect the views of the AFRL.
Copyright © 2008, MarketWire
Copyright © 2008, NewsBlaze,
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