U-M battery spinout gets $2.5M, Ann Arbor to become "center of energy excellence"

Ann Arbor is about to literally become a power center for Michigan's emerging new economy with the creation of the "center of energy excellence".

Excerpt:

Michigan's economic development agency today is creating a "center of energy excellence" in Ann Arbor in an effort to capitalize on the region's burgeoning battery technology expertise.

Sakti3, a startup battery company led by University of Michigan scientist Ann Marie Sastry, will receive $2.5 million from the Michigan Economic Development Corp. to become an "anchor" company. U-M will receive $500,000 to conduct battery research, said Elizabeth Parkinson, director of marketing and public relations for Ann Arbor SPARK.

The state's objective is to stimulate the growth of major alternative energy companies with the idea that those firms' decisions to operate in Michigan would attract related companies and technology suppliers to locate here.

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U-M battery spinout gets $2.5M, Ann Arbor to become "center of energy excellence"

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