DGAP-News: Nanostart-holding Nanosys: 11-million-USD-funding by U.S. Department of Energy
(firmenpresse) - DGAP-News: Nanostart AG / Key word(s): Miscellaneous
Nanostart-holding Nanosys: 11-million-USD-funding by U.S. Department
of Energy
11.08.2011 / 13:15
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- Commercialization of high-capacity electric vehicle batteries for U.S.
automotive market
- Decisive improvements made by Nanosys' materials
- Additional cooperation with battery manufacturers
Frankfurt / Palo Alto, CA - August 11, 2011 - Nanostart-holding Nanosys,
Inc. today announced that the U.S. Department of Energy (DOE) has awarded
it funds to refine and bring to scale its SiNANOdeTM materials for the
automotive market. These innovations will enable Electric Vehicles (EVs) to
travel 300 miles on a single charge.
In addition to the primary DOE award of USD 4.8 million, approximately USD
6 million will be spent, through sub-awards and matches by the DOE and
Nanosys, in the development and commercialization of advanced material
technologies and manufacturing in the United States.
'We are honored the DOE has selected Nanosys for this grant,' said Jason
Hartlove,
president and CEO of Nanosys. 'The future of a clean energy economy depends
on
increased adoption of electric and hybrid electric (PHEV) vehicles. Until
such vehicles
are able to achieve substantial operating range on a single charge with the
economics of combustion vehicles, acceptance will be limited to early
adopters. The commercialization of architected material solutions like
SiNANOdeTM provide the breakthroughs needed to progress on the path to
achieving those goals.'
The grant is a part of the DOE's larger mission to accelerate the
development and
deployment of advanced vehicle technologies through targeted programs aimed
at
increasing vehicle efficiency.
DOE's comprehensive approach is aimed at creating new innovations
throughout the vehicle, including high capacity electric vehicle batteries
and components that should significantly exceed existing state-of-the-art
technologies in terms of performance and/or cost.
The agency has set a target for bringing the cost of lithium-ion batteries
down to USD 250/kWh and increasing capacity to 300 miles per charge for the
next generation of EVs.
In recent tests, Nanosys' SiNANOdeTM anode material has doubled capacity
while
providing breakthrough charge/discharge cycle life improvements. Nanosys
will use the DOE funds to accelerate development through purchases of
additional equipment and the hiring of additional staff.
'The Department of Energy is investing in new advanced technologies that
will significantly improve vehicle fuel economy, save consumers money, and
create skilled jobs for Americans,' said U.S. Energy Secretary Steven Chu
in a DOE press release. 'Investments in the next generation of autos will
strengthen our economy and lead to a more fuel-efficient, clean energy
future.'
In addition to EVs, Nanosys is currently working with domestic and
international battery manufacturers to improve lithium-ion battery capacity
using SiNANOdeTM in batteries for laptops and tablets, smart phones and
other electronic devices.
About Nanostart:
Nanostart AG, headquartered in the German financial capital
of Frankfurt, is the world's leading nanotechnology investment company,
with portfolio companies spanning the globe from Silicon Valley to
Singapore. The company provides venture capital financing for
nanotechnology companies in various growth phases with a focus on
innovation-driven industries of the future such as cleantech, life sciences
and IT/electronics. Through its subsidiary and venture capital fund in
Singapore, Nanostart is proud to be the investment partner of the
Singaporean government. For further information, please visit
www.nanostart.de.
About Nanosys:
Nanosys, Inc. is an advanced material architect, harnessing the fundamental
properties of inorganic materials into process ready systems that can
integrate into existing manufacturing to produce vastly superior products
in lighting, electronic displays and energy storage. For further
information please visit www.nanosysinc.com.
Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of
offers to purchase or subscribe to securities. There will be no public
offering of securities of Nanostart AG in conjunction with the existing
listing of its shares in the 'Entry Standard' segment of the regulated
unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This
notice does not constitute a securities prospectus. Neither this notice nor
the information contained within is intended for direct or indirect
distribution within Canada, Australia or Japan.
Media contact:
Nanostart AG
Head of Corporate Communications
Dr. Hans Joachim Dürr
Goethestrasse 26-28
D-60313 Frankfurt
Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
e-mail: presse(at)nanostart.de
End of Corporate News
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