{"id":84303,"date":"2021-04-26T09:19:54","date_gmt":"2021-04-26T13:19:54","guid":{"rendered":"http:\/\/www.owegopennysaver.com\/PS\/?p=84303"},"modified":"2021-04-28T08:04:46","modified_gmt":"2021-04-28T12:04:46","slug":"lithium-ion-battery-gigafactory-to-be-developed-in-endicott","status":"publish","type":"post","link":"http:\/\/www.owegopennysaver.com\/PS\/2021\/04\/26\/lithium-ion-battery-gigafactory-to-be-developed-in-endicott\/","title":{"rendered":"Lithium-ion Battery Gigafactory to be developed in Endicott"},"content":{"rendered":"

Imperium3 New York Inc. (iM3NY) has announced that it is now fully funded to begin building a Lithium-ion \u201cGigafactory\u201d at the Huron Campus in Endicott. The project expects to begin producing batteries in \u201cearly 2022\u201d. <\/span><\/p>\n

The project is funded with the capacity to produce 1 gigawatt-hour of high-grade lithium-ion battery cells per year, and seeks to expand that capacity to 32 gigawatt hours of batteries within eight years. iM3NY says the project \u201cwill seek to employ about 150 people within the manufacturing operation and its headquarters\u201d and \u201cwill create direct employment opportunities for approximately 2,500 people\u201d within eight years.  <\/span><\/p>\n

Village of Endicott Mayor Linda Jackson said the factory is \u201cgoing to really make a big difference in the village of Endicott.\u201d <\/span><\/p>\n

\u201cWe\u2019ve lost a lot since IBM left, our economy has really gone down, we\u2019ve had a lot of problems in the village with bringing people in, we\u2019ve had a lot of sad things, negativity, and I think this is going to start to rebuild Endicott,\u201d added Mayor Jackson, and with Deputy Mayor Eileen Konecny echoing that sentiment, saying, \u201cI am so completely happy that [i3MNY is] coming, it is a much needed lifeline that the village of Endicott needs, and has needed for some time.\u201d<\/p>\n

\"Lithium-ion<\/a>

Dr. Shailesh Upreti, and his daughter, poses for a picture with Village of Endicott Deputy Mayor, Eileen Konecny. (Photo by Dominick Matarese)<\/p><\/div>\n

Bill Shannon, chief operating officer of i3MNY said of the factory; \u201cIt certainly brings jobs, and jobs helps boost the economy. It also brings technology. There are good technology companies in the area as well, but it does bring this battery industry here.\u201d<\/p>\n

iM3NY says the batteries they produce will be sold to the U.S. Department of Defense, and will bolster the electrification of several large U.S. corporations. iM3NY says their batteries \u201cwill play a key role in reducing carbon emissions, fostering a greener planet, and making a better world for generations to come.\u201d<\/p>\n

Dr. Shailesh Upreti stated; \u201cWe are also very proud that our product has already been used in U.S. military and Navy applications, so our batteries built right here are right now in a product…  and has been performing extremely well in [the] last twelve months.\u201d <\/span><\/p>\n

Paul Stratton, senior vice president of Sales and Marketing at iM3NY, stated, \u201cWe\u2019ll have a green product, one of the greenest lithium-ion batteries on the planet. This product is really cutting edge and leads the world in creating a greener planet.\u201d <\/p>\n

\"Lithium-ion<\/a>

Pictured, is one of Imperium3 New York’s lithium-ion batteries. (Photo by Dominick Matarese)<\/p><\/div>\n

One area that iM3NY seeks to focus on is electric vehicles. Shannon said \u201cwith the electric vehicle market growing at a tremendous rate\u2026 that is creating a tremendous amount of demand for batteries\u2026 we\u2019re going to be servicing that tremendous demand.\u201d<\/p>\n

iM3NY has an exclusive license agreement with Charge CCCV, a Binghamton based research and development company founded by Upreti. iM3NY\u2019s batteries will incorporate CCCV\u2019s \u201cBio Mineralization\u201d technology, which iM3NY says will help produce \u201chigher capacity, safer, longer cycling, and lower cost batteries versus all other competitors in the category.\u201d <\/span><\/p>\n

Upreti has previously worked with and been mentored by Binghamton Professor Stanley Whittingham, a Nobel laureate for his work on lithium-ion battery development, for five years. Upreti is also a Board Member at the Koffman Southern Tier Incubator, which provides office space, programs, and mentors for local startups, where CCCV has been working out of.<\/p>\n

The project\u2019s $85 million in funding comes from a $50 million senior-secured loan from Riverstone Credit Partners, and $35 million in equity funding, $23.6 of which comes from Magnis Energy Technologies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Imperium3 New York Inc. (iM3NY) has announced that it is now fully funded to begin building a Lithium-ion \u201cGigafactory\u201d at the Huron Campus in Endicott….<\/p>\n","protected":false},"author":5,"featured_media":84305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-84303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nLithium-ion Battery Gigafactory to be developed in Endicott - Owego Pennysaver Press<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.owegopennysaver.com\/PS\/2021\/04\/26\/lithium-ion-battery-gigafactory-to-be-developed-in-endicott\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lithium-ion Battery Gigafactory to be developed in Endicott - Owego Pennysaver Press\" \/>\n<meta property=\"og:description\" content=\"Imperium3 New York Inc. 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