Laci_calib press release_2.20.12

Los Angeles Cleantech Incubator Announces California Lithium Battery as its Newest Portfolio
Los Angeles, February 22 2012. The Los Angeles Cleantech Incubator (LACI) announced the acceptance of California Lithium Battery (CALiB) into its Portfolio Company Program making it the sixth start-up in LACI’s portfolio. CALiB has licensed new technology from the Argonne National Labs that improves the performance of lithium batteries by 3X. CALiB’s goal is to be the leading United States-based developer and manufacturer of high performance Very Large Format lithium batteries for utility energy storage, EVs and specialized industrial applications. “Developing game changing technology in energy storage is a key requirement for wider adoption of sustainable energy. We’re impressed with California Lithium’s technology, which has been developed and validated by the Argonne National Labs, and its business strategy to enter the utility scale energy storage market. While it’s too early to declare victory, CALiB’s batteries could effectively lower the Li- ion battery cost by 70%,” said Fred Walti, Executive Director of LACI. "California Lithium Battery has found a great business mentor in the LA Cleantech Incubator" said Phil Roberts, CEO of CalBattery. He continued, "LA is emerging as the new global test center for advanced energy technologies and we thank Mayor Villaraigosa and the LADWP for their stewardship of the LACI as a great example of public private partnership that is helping small businesses do big things for their community. The help and connections of LACI will enable CalBattery to create good manufacturing jobs stemming from our new energy storage and EV lithium silicon-graphene battery made in LA for export About LACI
Los Angeles launched its new cleantech business incubator (LACI) in October 2011to accelerate development of cleantech start-ups by offering flexible office space, CEO coaching and mentoring, and access to a growing network of experts and capital. LACI is the business equivalent of baseball’s farm system: it identifies local talent, nurtures it, and helps it get to market, resulting in more jobs and a LACI has five other portfolio companies: 350 Green (EV infrastructure), Gridtest Systems (EV Infrastructure), Eliosolar (Energy Efficiency), Hive Lighting (Energy Efficiency) and 360 Energy About California Lithium Battery
California Lithium Battery (“CalBattery”) Inc. is a start-up California company established in 2011 to develop and manufacture the most technologically advanced and affordable lithium battery for grid scale energy storage, transportation, and renewable energy industries. The company is owns exclusive and non-exclusive rights from Argonne National Laboratory for all applications to a newly patented “Game Changing” silicon embedded in graphene process that test indicate will substantially improve the performance of lithium battery anodes by 3X. This new “GEN3” composite battery technology when combined with other advanced battery materials could become a disruptive renewable energy and EV technology by effectively lowering Li-ion battery cost up to 70%. The Company’s goal is to become the leading United States-based developer and manufacturer of advanced, safe, high-performance Very Large Format (VLF) lithium batteries for utility energy storage, EVs, and specialized industrial applications. Its initial focus is to serve the stationary utility grid power market segments in North America, Europe and Asia. CalBattery plans to manufacture and assemble the GEN3 lithium battery in a Los Angeles-based plant and to increase global production capacity of cells as required. For further information, please visit www.laincubator.org
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For press information or images, please contact:
Ian Harris
213.986.6321
ian@laincubator.org

Source: http://laincubator.org/wp-content/uploads/2011/09/LACI_Cal.Lithium.Battery-Press20Release_2.22.12.pdf