29 Oct '14, 6am

Alveo unveil LiFePO4 battery that charges in 30 mins over 40,000 cycles |Electric Vehicle News

Alveo unveil LiFePO4 battery that charges in 30 mins over 40,000 cycles |Electric Vehicle News

Norwegian entrepreneur Jostein Eikeland is hoping to jolt the world of energy storage. On Tuesday, Eikeland's latest venture, Alevo, unveiled a battery that he says will last longer and ultimately cost far less than rival technologies. The technology, which is meant to store excess electricity generated by power plants, has been developed by Eikeland in secret for a decade. "We've been very stealth," Eikeland said in a telephone interview. "We didn't know if we were going to succeed." Martigny, Switzerland-based Alevo Group is gearing up to start manufacturing batteries next year at a massive former cigarette plant near Charlotte, North Carolina, that it says will employ 2,500 people within three years. Eikeland, 46, said Alevo, named for the inventor of the battery, Alessandro Volta, has $1 billion from anonymous Swiss investors and has taken no state funding or incentive...

Full article: http://www.electric-vehiclenews.com/2014/10/alveo-emerge-...

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