Revolt in Oregon

Discussion in 'Energy' started by Old Rocks, Aug 30, 2010.

  1. Old Rocks

    Old Rocks Diamond Member

    Oct 31, 2008
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    Portland, Ore.
    ReVolt Technology:press releases

    Portland, Oregon, August 27, 2010 – ReVolt Technology, LLC, a technology company which has developed a rechargeable zinc-air battery, today announced that it has been approved to receive a package of loans and tax credits from Oregon and Portland authorities totaling approximately $6.8 million, including support from the Oregon Department of Energy’s Small Scale Energy Loan Program (SELP), which is intended to promote energy conservation and renewable energy resource development. Upon final closing, the SELP funding and incentives will further enhance ReVolt’s research and development work in a public-private partnership producing cutting-edge battery systems for electric vehicles.

    ReVolt has selected a site in Portland’s Airport Way Urban Renewal Area, at 12021 NE Airport Way, Suite G, to serve as its headquarters and expects to begin battery development and HQ operations there in October, supporting approximately 150 jobs between 2010 and 2015.

    ReVolt’s recent commitment of $6.8 million in funding support from Oregon, combined with the $5 million in federal funding from the U.S. Department of Energy’s (DOE) Advanced Research Projects Agency-Energy (ARPA-E), will catalyze and propel ReVolt’s North American business development efforts. Under ARPA-E’s “Batteries for Electrical Energy Storage in Transportation,” or “BEEST” program, ReVolt will develop a powerful, safe and environmentally-sustainable rechargeable zinc-air battery system for electric vehicle applications.

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