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Coreo AG — Regulatory Filings 2011
Aug 11, 2011
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Corporate | 11 August 2011 13:15
Nanostart-holding Nanosys: 11-million-USD-funding by U.S. Department of Energy
Nanostart AG / Key word(s): Miscellaneous
11.08.2011 / 13:15
Nanostart-holding Nanosys: 11-million-USD-funding from U.S. Department of Energy
– 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 SiNANOde TM 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 SiNANOde TM 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' SiNANOde TM 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 SiNANOde TM 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: [email protected]
End of Corporate News
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