New York based consortium to invest $130 million in Lithium-ion Giga-Factory
Imperium3 New York, a new consortium of battery tech firms, will be investing over $130 million over the next five years to help the wide commercialisation and cost reduction of lithium-ion batteries.
The announcement came from a press release from New York Governor’s office.
The consortium will establish new Research & Development (R&D) operations at the Hurron Campus in Endicott, New York and aims at manufacturing 3GW of batteries by Q4 of 2019; a number to reach 15GW within five years.
New York Governor, Andrew Cuomo said: “This consortium of local businesses is choosing to stay and invest their next generation technology right here in the Southern Tier, breathing new life into vacant facilities and creating hundreds of good jobs for New Yorkers”.
“Our investments to improve the business climate and spur economic development across Upstate New York are paying off, and this innovative project is yet another example of how the Southern Tier is soaring”.
The Imperium3 New York consortium was formed by 10 companies with the endeavour expected to create 232 new permanent jobs.
Three Southern Tier based companies are reported to be the backbone of the consortium.
C4V (Binghamton) will provide the core intellectual property, C&D Assembly (Groton) will supply the electronic board assembly and battery testing and Primet Precision Materials (Ithaca) will off advanced processing of materials.
According to the press release, other New York based companies that will participate include Kodak and CMP Advanced Mechanical Solutions.
In addition, Magnis Resources Ltd., a publicly-traded Australian company, will provide anode materials needed for the consortium to make the innovative lithium-ion batteries and Boston Energy and Innovation, another Australian business specialising in clean energy, will provide international sales and marketing opportunities.
C4V has qualified more than 20 international companies as strategic partners of high-quality lithium, electrolyte, separator and other critical raw ingredients.
The consortium complements Southern Tier region’s efforts to drive economic growth through innovation, with the State of New York having already invested more than $1.3 billion at attracting talented workforce to drive innovation.
Dr. William Acker, Executive Director of the New York Battery and Energy Storage Technology (NY-BEST) Consortium said: "The battery and energy storage industry is growing rapidly and the race is on to capture the high-volume, high-growth, advanced battery market and the jobs that come with it. Governor Cuomo's support and leadership has helped New York State establish itself as a leader in clean energy”.
Senator Tom O'Mara, Chair of the Senate Environmental Conservation Committee, said: "New York State continues to play a leading role in the research and development of advanced, cutting-edge, and innovative energy technologies”.
You can read the full press release here.