Portland, Oregon, May 5, 2010 – ReVolt Technology, LLC, a technology company which has developed a rechargeable zinc-air battery, today announced that it has received notification of an award for approximately $5 million in development funding from the U.S. Department of Energy’s (DOE) Advanced Research Projects Agency-Energy (ARPA-E), a federal agency charged with aiding the rapid development of innovative clean energy technologies. Following successful negotiations, which are expected to be concluded before the end of June 2010, the agency’s award will allow ReVolt to accelerate its implementation plan for a U.S. headquarters and development facility in Portland, Oregon, where it will work on advanced zinc-air battery technology for use in electric vehicles.
“We are honored and excited to receive this award and recognition of ReVolt’s zinc-air battery technology, which is focused on transformational step changes in next-generation battery solutions for electric vehicles,” said ReVolt Technology CEO James P. McDougall. “Zinc is a globally-abundant industrial material and our environmentally-safe battery technology offers superior energy performance - up to triple the energy density of lithium-ion at a significantly lower price - making it a good fit for ARPA-E’s mandate to foster innovative and transformational clean energy technologies enabling a more energy-independent America in the future.”
ReVolt’s award comes at an opportune time, as the company looks to accelerate its strategic plans for zinc-air battery development in Portland. Factoring-in the ARPA-E award’s additional capital, ReVolt plans to finalize new Portland facilities in the coming months and have its U.S. team and operations in place in Oregon by October 2010.
“Electric cars have an enormous potential, but their success depends on better and cheaper battery technology,” said U.S. Senator Jeff Merkley (D-OR). “I couldn’t be more thrilled to have a company like ReVolt putting Oregonians to work developing better batteries. Successful American leadership in electric car technology will generate thousands of jobs and strengthen the American economy by ending the payout of $1 billion dollars a day for foreign oil.”
“ReVolt’s innovative battery technology is exactly the kind of transformational energy research that I envisioned supporting when I helped create ARPA-E at the Department of Energy,” said Congressman David Wu (D-OR). “By funding ambitious research projects that can fundamentally change the way our country uses and produces energy, the federal government is helping create jobs and drive economic growth through innovation. This award will help ReVolt more quickly solidify its U.S. headquarters here in Portland, further establishing Oregon’s leadership in cutting-edge energy technologies.”
“Oregon is leading the nation in the transition to a new, clean and sustainable economy with our aggressive development of renewable energy and our commitment to the next generation of lower and zero-emission vehicles,” said Oregon Governor Ted Kulongoski. “ReVolt’s choice to develop its zinc-air battery in Oregon is further evidence that we are a state that fosters innovation and are committed to a clean energy future. I am proud to welcome an innovative, clean-energy company like ReVolt Technology to our state to help us advance this goal.”
“We are proud to have an innovative, clean-energy company like ReVolt Technology plan its expanded U.S. facilities for Portland, and look forward to hosting the company’s remarkable and pioneering work here in our city,” said Portland Mayor Sam Adams. “ReVolt is the latest ‘green’ and sustainability-minded business to recognize and appreciate Portland’s attributes, amenities and awareness when it comes to protecting our environment and leading in tomorrow’s clean energy breakthroughs.”
“Oregon’s progressive stance on the environment, clean-tech and commitment to a supportive ecosystem for related innovations makes Portland an ideal location for our company, McDougall added.” “The US market is very important to ReVolt’s corporate development and strategic business plans, and having the DOE and ARPA-E’s strategic support and endorsement gives us a major boost in this fast-moving market as we engage with potential customers, partners and investors.”
ReVolt’s ARPA-E award is under the agency’s “Batteries for Electrical Energy Storage in Transportation,” or “BEEST” program, charged with improving U.S. energy security, spurring economic growth and dramatically cutting greenhouse gas emissions by developing a new generation of ultra-high energy density, low-cost battery technologies for long range electric vehicles. ReVolt faced intense competition in ARPA-E’s latest funding round, and was among just 37 final awardees selected from more than 540 initial proposals to share in a combined $106 million award pool. Award recipients were selected after a rigorous evaluation process comprised of agency staff and top U.S. science and technology experts.
About ReVolt Technology LLC
ReVolt Technology LLC (www.revolttechnology.com) is a technology company, which has developed a rechargeable zinc-air battery. ReVolt’s batteries may enable more high-power consumer devices, electric vehicles and renewable energy storage. The technology is a result of six years of intense research and development at SINTEF (the largest independent research institute in Scandinavia). Research on material combinations has solved issues historically related to the metal-air technology; power, lifetime and rechargeability.
ReVolt Technology, LLC
James P. McDougall, CEO and President
+1 (503) 471 1326
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