In reaction to the new Economic Stimulus Plan, mPhase
Technologies, Inc. (OTC BB:XDSL.OB - News) announced that it will pursue
funding opportunities arising from the $2 billion allocated for advanced battery
technology. The mPhase/AlwaysReady Smart NanoBattery has the potential to impact
new energy efficient vehicle applications. Eligibility for the $2 billion in
competitive grants to support manufacturing advanced vehicle batteries and components
is to be determined by the Department of Energy, with a final decision made
by the Office of Energy Efficiency and Renewable Energy.
Said mPhase CEO Ron Durando, ``We are excited that the stimulus plan recognizes
the importance of advanced battery technology, and we are confident that our
Smart NanoBattery technology can play an important role in improving energy
efficiency.'' The Smart NanoBattery is being developed as part of the Phase
II STTR Grant that was awarded by the United States Army in 2008. As a multiple
cell battery with a shelf life of at least 20 years, the Smart NanoBattery can
potentially be integrated with emergency functionality in commercial electric
and hybrid electric vehicles to supplement the main power supply, for powering
some of the critical electronic components of the vehicle.
The Department of Energy must provide facility funding awards to manufacturers
of advanced battery systems and vehicle batteries produced in the United States,
including advanced lithium ion batteries, hybrid electrical systems, component
manufacturers, and software designers. A rechargeable version of the Smart NanoBattery
can be designed with lithium ion chemistry for a wide range of energy-efficient
applications.
The upcoming NanoBusiness Alliance Public Policy Tour represents an opportunity
for mPhase to interact with key public officials that will have an impact on
how the stimulus funds are distributed. The 8th Annual NanoBusiness Alliance
Public Policy Tour will take place from March 17-19 in Washington, DC.