This story originally ran in: 5/13/2009
One of Ann Arbor's most promising start-ups is going after a lot of federal money this summer and creating a few jobs along the way.
Sakti3 is applying for $15 million U.S. Department of Energy funds. That money will be part of a $30 million round of financing its aiming to gather together this summer to continue its development of lithium-ion batteries for hybrid and plug-in cars, like the Chevrolet Volt. The University of Michigan spin-off is working with officials from the federal government and General Motors to secure the funding.
"We're told decisions will come down in July," says Ann Marie Sastry, founder of Sakti3 and an engineering professor at U-M.
The Ann Arbor-based company is also looking to add to its team this year, but plans to pick the next members very carefully. Right now less than 20 people work for the company, which is looking for specialized employees. Think PhDs and the like.
That's because the company is in the prototyping stage of creating the new lithium-ion battery. It hopes to jump to manufacturing it on a small scale and then a pilot line within three years. Once that happens it could means thousands of new jobs (both white and blue collar) in Metro Detroit.
"We'll be in prototyping for a while and then growing," says Ann Marie Sastry, founder of Sakti3.
Source: Ann Marie Sastry, founder of Sakti3
Writer: Jon Zemke
A month later, we ran this follow up story:
Electric cars are considered
a big piece of the global warming solutions puzzle. And now that
battery technology is starting to catch up with consumer demand, it's
only a matter of time before internal combustion goes the way of the
dinosaur.
But finding batteries tough enough to withstand the beating cars take everyday isn't easy either.
Enter Sakti3, a
start-up company that specializes in, you guessed it, high-powered
batteries tough enough for the everyday car. The firm plans to invest
$1.1 million in Ann Arbor to commercialize a manufacturing process for the development of high-power batteries, primarily in electric vehicles.
The technology came from the company's CEO, Ann Marie Sastry, research position at the University of Michigan. The investment is expected to create 112 new jobs in the company.
To help make this happen, the Michigan Economic Development Corporation
awarded Sakti3 a $2.3 million tax break over 10 years. This played a
significant role in helping keep the aspiring business in Michigan
instead of letting it slip out to California.
Source: Michigan Economic Development Corporation
Writer: Jon Zemke
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