Tuesday, March 9, 2010

PowerGenix Eyes Military Tank Market

San Diego-based PowerGenix, a venture backed developer of Nickel-Zinc (NiZn) rechargeable batteries, announced Tuesday that the firm has sold a number of its batteries to the U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC), as part of a potential use of the firm's in military vehicles. PowerGenix said that the TARDEC is looking to test the firm's batteries as a possible replacement for lead-acid "6T" batteries currently in use in the U.S. Army. The firm disclosed that it expects testing to start in Q4 of 2010. PowerGenix said that the U.S. Army purchased roughly 700,000 6T batteries--the most common battery format for U.S. military vehicles--in 2008. PowerGenix is backed by Bessemer Venture Partners, Advent International, Angeleno Group, Braemar Energy Ventures, Granite Ventures, OnPoint Technologies and Technology Partners.

---