ActaCell Recieves $3M from US Department of Commerce
ActaCell, Inc., an Austin, Texas-based technology company developing Li-Ion technologies for electric vehicle applications, has been awarded up to $3m over a 3-year period in funding from the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST).
The company intends to use the funds, which will come through NIST’s Technology Innovation Program (TIP), to scale up production of nanocomposite alloy anode materials for lithium-ion batteries to be utilized in electric vehicles and other applications.
This new electric vehicle technology is in addition to the company’s initial lithium-ion technology targeted at the Hybrid Electric Vehicle Market.
Founded in 2007 and led by president and CEO Bill Ott, the company leverages the work done by Professor Arumugam Manthiram and his team in the Materials Science Lab at the University of Texas at Austin.
Venture capital investors in ActaCell include DFJ Mercury.