The Imperium3 New York (IM3NY) consortium has purchased lithium-ion battery plant assets worth $200m from beleaguered North Carolina firm Alevo for $5m , and will use them in a 4 GWh-a-year lithium-ion battery production factory, planned for New York State . These include the intellectual property for Alevo’s nonflammable 50,000-cycle battery technology, an electrolyte plant in Martigny, Switzerland, and a single GridBank lithium-ion storage system operating in the PJM Interconnection ancillary services market. Last year , IM3NY was awarded $ $5m m in state funding for a 1 GWh-per-year facility, and Australian consortium member IM3NY said although the new site was smaller, it would cost 30 percent of the original amount, and be operational in 12-15 months .
The Imperium3 New York (IM3NY) consortium has purchased lithium-ion battery plant assets worth $200m from beleaguered North Carolina firm Alevo for $5m , and will use them in a 4 GWh-a-year lithium-ion battery production factory, planned for New York State . Last year , IM3NY was awarded $ $5m m in state funding for a 1 GWh-per-year facility, and Australian consortium member IM3NY said although the new site was smaller, it would cost 30 percent of the original amount, and be operational in 12-15 months .