C&D Technologies, Inc. (NYSE: CHP) have been awarded a $19 million contract by the US Army. The contract is for the development of large-format lithium battery systems. The contract will last through a 4 years beginning September 18, 2009, with the objective of developing large-format lithium-ion batteries to meet the growing needs of the US Army for light-weight, high power density battery systems.
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The technologies developed will also be used to meet the needs of C&D's commercial customers, with possible application in large-scale grid-energy storage, renewable energy applications and distributed power for telecommunications systems.
The funding includes an initial installment of $1.6 million allocated in the Federal Government Fiscal Years (FY) 2008 and 2009, followed by $4.96 million for development expansion in the FY 2010 Defense Appropriations Bill, passed by Congress and signed into law by the President in late December.
C&D Technologies, Inc.
C&D Technologies provides power solutions and services for the telecommunications, uninterruptible power supply (UPS), switchgear and control (utility), and emerging markets. C&D Technologies engineers, manufactures, sells and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power in the event of primary power loss until the primary source can be restored.
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