New York Governor Andrew M. Cuomo has announced “Imperium3 New York, Inc.,” a new consortium of businesses spearheaded by three Southern Tier companies. The aim of Imperium3 New York is to commercialize an innovative technology for making more efficient and less expensive lithium-ion batteries, while operating the state’s first Li-on giga-factory that will produce 3 GWs of batteries by Q4 2019 — growing to 15 GW.
The consortium will invest more than $130 million and create at least 230 new jobs over the next five years.
“This consortium of local businesses is choosing to stay and invest their next generation technology right here in the Southern Tier, breathing new life into vacant facilities and creating hundreds of good jobs for New Yorkers,” Governor Cuomo said. “Our investments to improve the business climate and spur economic development across Upstate New York are paying off, and this innovative project is yet another example of how the Southern Tier is soaring.”
The Imperium3NY consortium was formed by nearly 10 companies, with three Southern Tier companies serving as its backbone:
- C4V (Binghamton) will provide the core intellectual property
- C&D Assembly (Groton) is supplying electronic board assembly and battery testing
- Primet Precision Materials (Ithaca) is offering advanced processing of materials
Other New York State companies involved include Kodak and CMP Advanced Mechanical Solutions. The general market for lithium-ion batteries continues to grow daily and serves multiple industries, including renewable energy projects, electric vehicle manufacturers, cell phone and other electronic product makers, among many others. Industry experts consider C4V’s batteries to be more efficient and less costly than other lithium-ion batteries on the market today.
“We are excited by the support shown to our consortium by the New York State Government,” said Dr. Shailesh Upreti, President of C4V. “Green manufacturing, in combination with the best utilization of an existing infrastructure in a distributed fashion, would create an unmatched example internationally and make New York a global leader in product and component manufacturing for energy storage. C4V is very excited to be part of this scale up initiative and is fully committed to make this happen right here in New York.”
To encourage a collaborative effort, Empire State Development has offered performance-based incentives totaling $7.5 million, including a $4 million Upstate Revitalization Initiative grant and $3.5 million in Excelsior Jobs Program tax credits. Additionally, Imperium3NY is expected to qualify for an estimated $5.75 million in New York Investment Tax Credits.
In 2016, C4V was recognized for its innovative battery storage technology when it was named a $500,000 winner in New York State’s first 76West Clean Energy Competition. Administered by the New York State Energy Research and Development Authority, 76West is one of the largest competitions in the country that focuses on supporting and growing clean-energy businesses and expanding innovative entrepreneurship in the Southern Tier.
“C&D’s current manufacturing floor is capable of handling battery management system production for up to 20GWh annually assuming each battery is 80kWH in size. Our knowledge base and deep understating of product quality control would give the New York consortium a significant edge in the market and I am very excited to be part of this consortium,” said Jeff Cronk, CEO of C&D Assembly.
Additionally, Magnis Resources, Ltd., a publicly-traded Australian company, will provide anode materials needed for the consortium to make the innovative lithium-ion batteries; and Boston Energy and Innovation, another Australian business specializing in clean energy, will provide international sales and marketing opportunities. More than twenty international companies have been qualified by C4V as strategic suppliers of high-quality lithium, electrolyte, separator and other critical raw ingredients to Imperium3NY that includes a Lithium mine just hours from Binghamton.
“This new consortium is a tremendous step forward in helping New York meet Governor Cuomo’s aggressive clean energy goals by supporting both this emerging industry and new start-up companies,” said Alicia Barton, President and CEO, NYSERDA. “One of the reasons the 76West Clean Energy Competition exists is to enable companies to grow their businesses and create jobs in the Southern Tier, and we are thrilled that C4V has a central role in this project and in the Southern Tier’s clean energy ecosystem.”