Magnesium Batteries Could Establish US Leadership in EV Battery Market
December 20, 2011 14:02 ET
UPDATE: Magnesium Batteries Could Establish US Leadership in EV Battery Market
POINT ROBERTS, WA--(Marketwire - Dec 20, 2011) - [ www.InvestorIdeas.com ], a leader in cleantech research and news for investors, reports on new developments in high efficient magnesium batteries, that will potentially benefit magnesium producers including China Direct Industries, Inc. (
Magnesium production and demand has nearly doubled in the past 10 years, and now a global need for green vehicle solutions may spike the demand even further.
Hoping to be first to market with a magnesium battery for electric cars, Pellion Technologies, Inc ([ www.pelliontech.com ]) is developing low-cost rechargeable Magnesium Batteries with high energy density.
Competing with lithium-ion batteries, magnesium batteries will potentially be cheaper, more efficient and also address a new issue that has come to surface -- safety.
According to the Advanced Research Projects Agency at the US Department of Energy site, "Pellion Technologies, an MIT spin-out company, will develop inexpensive high-energy-density rechargeable magnesium-ion batteries with the potential to disrupt current energy storage technologies for electric and hybrid-electric vehicles. To develop a game-changing 33 magnesium-ion battery, Pellion will leverage high throughput computational materials design, coupled with accelerated materials synthesis and electrolyte optimization, to identify new high-energy density magnesium cathode materials and compatible electrolyte chemistries. If successful, this project will develop the first commercial magnesium-ion battery and will establish U.S. technological leadership in this exciting new high energy battery chemistry for electrified vehicle applications."
With US auto sales improving and global demand and pressure to address climate change with green automotive solutions, magnesium producer China Direct Industries, Inc. (
China Direct Industries, Inc. (
For more information about China Direct Industries, please visit [ http://www.cdii.net ]
Contact Information:
Pearl Group Advisors, Inc
954.232.5363
China Direct Industries, Inc.
Richard Galterio or Lillian Wong
Investor Relations
Phone: 1-877-China-57
Email: [ richard.galterio@cdii.net ]
[ lillian.wong@cdii.net ]
CDII on Facebook.com [ http://www.facebook.com/CDII.ChinaDirectIndustriesInc ]
CDII on Twitter.com [ https://twitter.com/#!/ChinaDirectCDII ]
China Direct Industries, Inc. (
Visit the company profile
[ http://www.investorideas.com/CO/CDII/ ]
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