Alevo filed for Chapter 11 bankruptcy protection last August but has remained operational while administrators looked for takers for the business. 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 1 GWh-a-year lithium-ion battery production factory, planned for New York State. In the US, lithium is used to make batteries that power electric cars, but it also powers everything from laptops to smartphones.
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 1 GWh-a-year lithium-ion battery production factory, planned for New York State. In the US, lithium is used to make batteries that power electric cars, but it also powers everything from laptops to smartphones.