“Muncie plant awarded $40 million in stimulus funds - Star-Press” plus 4 more

Muncie plant awarded $40 million in stimulus funds - Star-Press
Automotive News to Host Free Online Access Week Aug. 10-16, 2009 - Earthtimes
President Obama Announces EnerDel Will Receive $118.5 Million Grant to ... - StreetInsider.com
New England Tech builds a wind turbine - WPRI
Sinclair Broadcast Group Inc. - Baltimore Sun

Muncie plant awarded $40 million in stimulus funds - Star-Press

Posted: 05 Aug 2009 11:56 PM PDT

MUNCIE -- A company with a southwestside Muncie plant will receive $40 million in federal American Recovery and Reinvestment Act funds meant to boost the development of electric cars.

Magna E-Car Systems -- part of Magna International, which opened its Magna Power Train plant on Cowan Road in Muncie in 2006 -- will get $40 million, although the White House announcement specified the money was for Magna in Muncie and Holly, Mich.

The good news for Magna came as part of President Barack Obama's announcement of $2.4 billion in stimulus funding for batteries and electric vehicles. Obama spoke Wednesday in economically hard-hit Elkhart County in northern Indiana, and the Hoosier state will receive more than $400 million in funding.

Magna E-Car Systems will receive funding for "increasing production capacity of advanced automotive electric drive system component manufacturing plants."

Magna deferred questions about what the funding would mean for the local plant and whether it might generate new jobs.

"At this point, it would be too premature to comment on potential job creation and/or any other related details," Magna spokesman Tracy Fuerst said.

But news that federal funds would be earmarked for a local manufacturer was heartening to officials.

"That's great news," said Terry Murphy, vice president for economic development for the Muncie-Delaware County Economic Development Alliance. "Magna is going to be a survivor of this whole automotive downturn. They stand to pick up some of the business lost by others in the industry."

In Muncie, Magna employs about 140 people, a smaller number than the 400 employees forecast when the plant opened three years ago.

"They're just a victim of (downturns in) the automotive industry," Murphy said. "Their sales are down, they're hurting like everyone else, but they're a strong company worldwide."

Murphy said the local Magna plant has been performing parts machining work for the automotive industry, including General Motors. Fuerst said the Muncie plant "assembles and machines powertrain components and sub-assemblies" while the Michigan plant is where electric drive modules are assembled.

Ball State University economist Michael Hicks said it was hard to gauge the impact of the federal funds on the local manufacturing scene.

"I'd think they'd want to spend more money here in Indiana than Michigan given the tax climate, but that would depend on the differences between the two plants [in Muncie and Holly, Mich.] and what the grant is for," Hicks said.

Other Indiana companies and federal funds they will receive, as announced Wednesday, were:

EnerDel, Indianapolis, $118.5 million.

Delphi, Kokomo, $89.3 million.

Allison Transmission, Indianapolis, $62.8 million.

Remy, Pendleton, $60.2 million.

Magna E-Car, Muncie, $40 million.

Navistar, Wakarusa, $39.2 million.

The president made Wednesday's announcement at the former Monaco RV plant in Wakarusa.

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Automotive News to Host Free Online Access Week Aug. 10-16, 2009 - Earthtimes

Posted: 05 Aug 2009 11:53 AM PDT

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President Obama Announces EnerDel Will Receive $118.5 Million Grant to ... - StreetInsider.com

Posted: 05 Aug 2009 12:50 PM PDT

August 5, 2009 3:52 PM EDT

INDIANAPOLIS, Aug. 5 /PRNewswire/ --- The White House today announced that Indiana-based automotive lithium-ion battery maker EnerDel, Inc., will receive $118.5 million in federal grant funding under the stimulus package passed last spring. The funds will help double the company's U.S. production capacity, creating approximately 1,700 new jobs in the state. Word came in separate speeches by President Obama in Elkhart, Indiana, and Vice President Joe Biden in Detroit, Michigan.

EnerDel, the lithium-ion battery subsidiary of Ener1, Inc. (Nasdaq: HEV), is one of nine companies selected to receive funds for cell, battery and materials manufacturing grants in a broadly subscribed solicitation managed by the U.S. Department of Energy (DOE). EnerDel received the full amount it requested. In all, 48 companies in the electric and hybrid vehicle sector received a total of $2.4 billion in awards today.

"This is about planting the roots of a critical industry firmly in American soil," said Ener1 Chairman and CEO Charles Gassenheimer. "The economic benefits associated with this government investment will stretch far beyond the battery industry. Carmakers in North America, foreign and domestic, are counting on advanced battery systems to power an entire new generation of electric and plug-in hybrid vehicles."

The grants will work together with the applied for long-term, low-interest loans under DOE's Advanced Technology Vehicle Manufacturing program (ATVM), in unleashing private capital flows to companies in this sector. EnerDel is in advanced stages of discussions with DOE regarding its ATVM application.

"These government incentives will provide a powerful stimulus to a vital industry and help ensure that the batteries eventually powering millions of cars around the world carry the stamp 'Made in the USA,' Gassenheimer said.

EnerDel is the first and so far only company in the industry to have built facilities in the United States to produce automotive lithium-ion batteries on a commercial scale, and recently unveiled one of the most advanced battery cell production lines in the world at its plant in Indiana. The company also recently announced partnership projects with Volvo and Nissan, as well as with plug-in and electric vehicle makers Fisker and Think Global.

"We are in a race today that will decide who will make the technology to power future generations of fuel-efficient vehicles around the world," said EnerDel CEO Ulrik Grape. "Korea, Japan and China are doing everything they can to win it, but with these new resources, the Obama administration is helping America's best, most innovative players move ahead of the pack."

"Economic growth is not a Democratic or Republican issue. This effort has been a model of bi-partisan cooperation by Senators Richard Lugar and Evan Bayh, and by Governor Mitch Daniels," Grape said. "Their support has been tremendously important."

The funds will help EnerDel in mass producing a high-quality automotive product with a wide range of engineering capabilities for multiple automotive requirements, including high-speed, automated production lines for cell electrode manufacturing, and lean-manufacturing techniques for battery assembly.

Still in its early stages today, the lithium-ion battery industry is rapidly emerging as a manufacturing and high-tech corner stone in the world economy. Suppliers are already springing up to produce other electric drivetrain components and the materials needed to produce them, creating jobs and opportunity for communities across this country, many of them hard hit by the economic downturn.

Safe Harbor Statement:

Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

About EnerDel:

EnerDel, a subsidiary of Ener1, Inc. (Nasdaq: HEV), develops and manufactures compact, high performance lithium-ion batteries to power the next generation of hybrid, plug-in hybrid and pure electric vehicles. Led by an experienced team of engineers and energy system experts, the company is building proprietary innovations based on technology originally pioneered with the assistance of Argonne National Laboratory.

EnerDel produces its batteries at its state-of-the-art facilities in Indianapolis, Indiana, and is expecting to be the first company to mass-produce a cost-competitive lithium-ion battery for hybrid and electric vehicles. In addition to the automobile market, applications for EnerDel lithium-ion battery technology include medical, military, aerospace, electric utility and other growing markets.

SOURCE EnerDel, Inc.

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New England Tech builds a wind turbine - WPRI

Posted: 05 Aug 2009 09:11 PM PDT

Warwick, R.I. (WPRI) - New England Tech Goes Green. The Warwick technical school has a new addiction, a wind turbine that stands 156 feet tall. The new structure cost nearly 500,000 dollars and was funded completely by the school.

The turbine is located in the parking lot of New England Tech's Automotive building. It is the third largest wind turbine in the state. It will only provide 30 percent of the building's power, but school officials say despite the small electricity output the turbine is a valuable investment for teaching about the technology.

As of Wednesday the turbine was not running due to a controller mechanism failure, but is expected to be up and running again on Thursday.