Lithium Technology Selected For Emission Reduction Initiative
Plymouth Meeting, PA - Battery industry leader Lithium Technology Corporation ("LTC") is one of few companies selected by the California Air Resources Board (ARB) as a potential technology solution for its Zero Emission Vehicle (ZEV) initiative. The findings of the Independent Expert Panel's (IEP) investigation of advanced technologies were released this summer in the ZEV Technology Review.
At the 2003 ZEV Regulation hearings, the ARB adopted Resolution 03-4 directing staff to conduct a review of ZEV technologies and to advise the Board on the findings. To accomplish this, in June 2006 the ARB convened an Expert Review Panel to investigate the status of ZEV technologies and will report this information to the Board.
The report reviews three key ZEV areas: battery energy storage, hydrogen storage, and fuel cells. The expert team projected the short and long term prospects for a number of advanced technologies ranging from hybrid and plug in hybrids to fuel cell and battery electric vehicles, and also focused on the ability of car manufacturers to commercialize these advances into production vehicles. Overall, the study found that while progress is continuing and consumer acceptance of "bridge" technologies such as hybrid vehicles is encouraging, significant research and investment is still needed to fully realize the mass commercialization of ZEVs.
"Advanced energy technologies are no longer a novelty of the future," comments Dr. Klaus Brandt, Chief Executive Officer of Lithium Technology Corporation. "They are necessary today in solving the mounting environmental problems we are facing. California is leading the country in many important environmental initiatives and it is an honor to play a role in the ZEV initiative."
In September 2006 LTC announced its Pollution Buster Challenge by inviting the automotive, agriculture, stationary power, military and recreational industries to join forces to develop effective energy product solutions to fight the growing pollution problems facing today's environment and reduce the world's dependency on traditional fuel sources. Just a month following LTC's announcement, California Governor Arnold Schwarzenneger announced an executive order to begin implementation of landmark greenhouse legislation, establishing climate change emission reduction targets for California: By 2010, reduce emissions to 2000 levels; by 2020, reduce emissions to 1990 levels; and by 2050, reduce emissions to 80 percent below 1990 levels.
"The technology exists to make a difference ," says Brandt. "I believe that by committing to work together, auto manufactures and battery companies can bring the cost down to make hybrid and electric vehicles an affordable reality for the consumer and in-turn, significantly reduce emissions."
LTC launched a new product line of lithium iron phosphate (LiFePO4) cells in May 2007, offering the largest cells of their kind in the world. Further demonstrating its commitment, the Company unveiled a Toyota Prius retrofitted with its breakthrough technology demonstrating an achievement of 125 + miles per gallon.
SOURCE: Lithium Technology Corporation