Lithium Technology Corporation (LTC) (Pink Sheets: LTHU), a manufacturer of large rechargeable lithium batteries, announced the receipt of an order of approximately $4.7 million for hybrid bus batteries to be used in a joint program with Kettering University and Transportation Techniques LLC (TransTeq).
Current hybrid buses provide approximately 15 to 20% improvement in fuel efficiency in the heavy-duty transit applications. LTC said TransTeq’s hybrid technology, which will utilize LTC’s batteries, also incorporates an enhanced set of control systems and more efficient components for an overall improvement of up to 40% over standard diesel powered vehicles and the capability to operate in a zero emission mode.
The Michigan Transit Authority (MTA) will provide the vehicles and facilities for carrying out the technology demonstration. LTC said at a later stage, discussions will be held between Kettering University, Michigan based GR Investment Group (TransTeq’s parent company), and LTC for the production of the batteries in the State of Michigan.
Dr. Klaus Brandt, CEO of LTC said, "Buses and trucks represent a huge market opportunity for us, and a significant stepping stone into the consumer vehicle market. Currently, we have several programs running in this market, of which this is one of them."
About Lithium Technology Corporation
Lithium Technology Corporation (LTC) is a global provider of large format rechargeable power solutions for diverse applications. LTC manufactures the GAIA® product line of large, high power hermetically sealed rechargeable lithium-ion cells and batteries. The Company’s product portfolio includes large cells and batteries from 10 times the capacity of a standard laptop computer battery to 100,000 times greater. LTC manufactures a variety of standard cells that are assembled into custom large batteries complete with electronics (battery management systems) and electronics to communicate with other components of the system for performance monitoring.
LTC headquarters are located in Plymouth Meeting, PA and R&D in Nordhausen, Germany.
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