EnerG2 Plant to Produce Nano-engineered Carbon Electrodes
The U.S. Department of Energy awarded EnerG2, a Seattle based company,$21.3 million in federal stimulus funds allocated for makers of advanced automotive batteries and energy storage technologies.
The funds will be used to help build a facility dedicated to the commercial-scale production of nano-engineered synthetic high-performance carbon electrode material. EnerG2 will partner with Oregon Freeze Dry (OFD), a current manufacturing partner, in the construction of the facility in Albany, Ore. OFD will bring deep experience and expertise to the project and will help accelerate the benefits that the plant will bring to the automotive industry.
"We appreciate the Department of Energy's confidence in us," said Rick Luebbe, chief executive officer of EnerG2, "and we are eager to help the next generation of clean transportation become a reality. We are confident that our materials will improve these vehicles' efficiency, range and affordability."
EnerG2's state-of-the-art approach to energy storage centers on customized electrode materials that enhance energy and power density in ultracapacitors. Ultracapacitors store and release more energy faster than conventional batteries. The size and make-up of the electrodes' surface area helps ultracapacitors store and supply large bursts of energy; the materials also effectively enable limitless cycle life for the device.
Among the company's supporters: the University of Washington, the Washington Technology Center, WRF Capital, the Sustainability Investment Fund, Northwest Energy Angels, the Frontier Angel Fund, OVP Venture Partners, Yaletown Venture Partners and Firelake Capital Management.
Over the past year, EnerG2 has raised $11 million in Series A financing from established cleantech investors including OVP, Firelake, Yaletown, and WRF Capital.