Jun 6 2006
Lithium Technology Corporation announced today that its wholly owned subsidiary GAIA Akkumulatorrenwerke GmbH in Germany has received a $1,000,000 order from Sunergy Investco for the development of lithium ion batteries for a solar energy storage system.
Sunergy is a Dutch company formed to be a major supplier of solar energy systems to the world. The shareholders of Sunergy are DELTA, a major power utility in The Netherlands, RABO Bank and ING Bank as well as Mr. Benno Wiersma, the initiator and founder of the company.
The specific requirements for lithium ion batteries in solar energy storage applications differ substantially from the application of large format lithium ion batteries in portable power, found in electrical and hybrid electrical vehicles, and stationary power produced today.
LTC won the contract based on its proven technology track record and extensive background in many lithium ion chemistries and battery constructions. The scope of the order is for the development and demonstration of cells that meet the critical requirements for solar energy storage. The initial payment of $1,000,000 is for the first phase of a joint development program over the next 24-36 months and will amount to a total of $5,000,000.
Solar energy offers great potential for electrification in developing countries where infrastructure costs are extremely high in remote areas. This battery application for solar source power requires operation in extreme temperature conditions, as well as be robust with minimum maintenance requirements.
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