Helping You Profit from the World's Best Green-Tech Stocks |
| HOME About Getting Started Archives |
Categories Companies by Category
|
Electric Car - Getting Closer?
|
Altair has developed a rechargeable lithium ion battery, which it describes as the Nano Lithium Titanate battery. It entered into an agreement with Phoenix to supply between $16 and $42 million worth of the batteries during 2007.
However, far fewer batteries than planned were actually supplied, due mainly to funding problems with Phoenix.
Further problems arose with the batteries themselves. In the words of Altair, in its announcement in March 2008 of its 2007 financial results:
After title passed to Phoenix for the first-generation battery packs produced under the two release orders, internal testing and modeling revealed a module configuration problem. Our research indicated that the manner in which battery modules within the battery packs were configured could, under certain rare circumstances, cause battery modules within the first-generation battery packs to overheat and fail. The configuration issue relates specifically to the configuration and structure of the first-generation electric battery packs and does not indicate an issue in our core lithium Titanate cell technology or in our battery modules for stationary applications, which are of a completely different design.
We met with Phoenix and presented several work-arounds to ensure safe use of the first-generation battery packs. Unable to define an acceptable work-around, we agreed to replace 47 of the existing packs sold to Phoenix by means of a credit against re-designed second-generation battery packs and related engineering services. Modeling and design of the modules for the second-generation battery packs is substantially complete.
Once testing and computer modeling confirm that the revised design resolves the potential overheating issue, we expect to commence delivery of second-generation battery packs to Phoenix. We are currently negotiating a development and supply agreement with Phoenix.
The pick-up truck - Phoenix calls it the SUT (sport utility truck) - will retail for about $47,500, and will be capable of a top speed of around 95 mph. It will have a range of 100 miles on a single charge. A particular feature is that with a 440-volt charger it can be recharged in just 10 minutes.
Phoenix says it hopes to start production of its truck late this month, with the initial deliveries in June to customers in California, and sales in 2008 of 360 vehicles.
April 15th, 2008
Most Viewed
1. Introduction to Investing in Wind Power Stocks
2. Wind Power in the United States – 10 Companies to Watch
3. Wind Power in the United States – Winners and Winners
4. Wind Power in China – Ten Stocks That Will Benefit
5. Ten Solar Energy Stocks That Make a Profit
6. Six Energy Efficiency Stocks That Make a Profit
7. Hot Rock Geothermal Energy - Australia Leading the World
8. Denmark's Dynamic Duo - Novozymes and Vestas