New York consortium invests $130 million into lithium-ion giga-factory

Imperium3 New York, a consortium of innovative battery companies, will invest more than $130 million over the next five years into the state’s first lithium-ion batteries giga-factory.

The Imperium3 New York consortium will establish R&D operations and production facilities at the Huron Campus in Endicott, New York. With an investment of $130 million, the consortium’s goal is to manufacture 3 GW batteries by the fourth quarter of 2019, growing up to 15 GW within five years. The aim is to commercialize an innovative technology that will make more efficient and less expensive lithium-ion batteries.

“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,” said New York’s governor, New York Governor Andrew M. Cuomo said in a statement announcing the new consortium.

“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 consortium was formed by nearly 10 companies, with three Southern Tier – a region west of the Catskill Mountains along the northern border of Pennsylvania – companies forming the backbone of the consortium: C4V from Binghamton will provide the core intellectual property, C&D Assembly from Groton will supply the electronic board assembly and battery testing, and Prime Precision Materials from Ithica will offer advanced processing of materials.

Other New York State companies involved including 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 specializing in clean energy, will provide international sales and marketing opportunities.

More than 20 international companies have been qualified by C4V as strategic suppliers of high-quality lithium, electrolyte, separator and other critical raw ingredients to the consortium, including an Upstate New York lithium mine.

According to the Governor’s office, the general market for lithium-ion batteries is growing daily and serves multiple industries, including renewable energy projects, electric vehicle manufacturers, as well as cell phone and other consumer electronic product makers.

 

Image credit: Razor512 via Flickr

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