Electro Energy Gives Senator Lieberman Close-Up Look at Battery Development for Plug-In Hybrid Electric Vehicles
Electro Energy Inc. (NASDAQ: EEEI), a developer and manufacturer of advanced rechargeable batteries, gave Senator Joseph Lieberman a close-up look at the development activities for the Company's advanced rechargeable bi-polar nickel metal hydride batteries which are being applied to plug-in hybrid electric vehicles (PHEVs).
Senator Lieberman visited the Electro Energy headquarters in Danbury on Monday, July 17, 2006. Martin G. Klein, Chairman and Chief Technologist, introduced him to the proprietary bi-polar battery design that Electro Energy has been developing since 1992. Michael E. Reed, CEO, discussed the large commercial markets -- military, utilities, transportation, hybrid vehicles, plug-in hybrid vehicles and power tools -- that the Company is targeting.
Senator Lieberman was one of several Senators and Representatives who test-drove Electro Energy's Plug-In Hybrid Electric Vehicle (a modified Toyota Prius) at an event in Washington, D.C. on May 16-17, 2006, sponsored by the Plug-In Hybrid Consortium. The vehicle is powered by Electro Energy's bi-polar NiMH battery and is capable of driving 20 to 25 miles on a single battery charge without using any gasoline, the equivalent of over 100 miles per gallon of fuel economy. Further driving range is possible in the normal hybrid operating mode.
The visit to EEEI headquarters showed Senator Lieberman the broad range of potential the Electro Energy technology presents for greater fuel economy and batteries with more power, less weight, and less cost, as well as greater environmental safety. The Senator serves on several committees related to Electro Energy's technology, including the Homeland Security and Governmental Affairs, Armed Services, Environment/Public Works, and Small Business Committees. He is actively involved in issues such as environment, energy and transportation.
About Electro Energy Inc.
Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bi-polar nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. EEEI is also developing high power lithium rechargeable batteries utilizing the Company's proprietary bi-polar design. EEEI has recently acquired significant manufacturing assets near Gainesville, Fla., to accelerate commercialization of its battery technology. For further information, please visit www.electroenergyinc.com.
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