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NINETY EIGHT REGENCY

GENERAL MOTORS INVESTS $3.2M IN MICHIGAN BATTERY START-UP

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GENERAL MOTORS INVESTS $3.2M IN MICHIGAN BATTERY START-UP

By Mark Kleis

General Motors has secured an undisclosed equity stake in Sakti3, an Ann Arbor, Michigan-based battery development company with a $3.2 million investment.

The move is likely a safe one, as The Detroit News points out, the state of Michigan’s $300 million Invest Michigan fund is already backing the start-up company. Sakti3 was initially founded in 2007, and emerged as a spin-out from the University of Michigan, also located in Ann Arbor.

Sakti3 specialized in the development of solid-state rechargeable batteries that are intended for use in both automotive and portable electronics applications. Although the start-up firm has only been able to demonstrate its technology on a relatively small scale, it is believed that there is big potential in what has been developed so far. The Invest Michigan Fund states that the company’s technology may potentially “change the performance and economics of electrified vehicles.”

Sakti3′s current projects include the development of batteries that are capable of delivering an equivalent of over 100 miles per gallon in electric vehicles.

link:

http://www.leftlanenews.com/general-motors-invests-3-2m-in-michigan-battery-start-up.html

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