July, 2009 | Posted by: Ry
One of the most promising areas of the green investing sector currently is the electric hybrid automobile industry. The U.S. Department of Energy just issued nearly $2 billion in grant money as part of the American Recovery and Reinvestment Act to companies specializing in electric car battery production and electric drive components.
The largest grant recipient was Johnson Controls - matching the government's grant and putting over $600 million toward the development of nickel-cobalt metal battery cells and packs and battery recycling capacity innovations.
A123Systems is another promising green investment, having received $249 million to develop lithium ion battery manufacturing plants.
Another promising green investment is with GM Motors and components pertaining to their new electric hybrid vehicle, the GM Volt. GM received $241 million to go toward developing battery packs and rear wheel electric systems for the Volt, while Compact Power Inc. was given over $150 million to produce proprietary lithium ion polymer batteries specifically for the GM Volt.
Further down the chain, yet an essential for electric vehicle batteries, is electrolyte salt production. Honeywell International Corp. was tapped with $27 million to specifically invest in this component. Investing in Green automobile technology is the name of the game these days.