Saft breaks ground on lithium-ion factory
The factory will build advanced Li-ion cells and batteries for military hybrid vehicles, aviation, smart grid support, broadband back-up power and energy storage for renewable energy.
The high-volume factory, which is Saft's 16th wholly-owned facility worldwide and 6th within the United States, will begin production during the second half of 2011, providing additional capacity needed to meet growing customer demand, particularly in renewable energy storage.
John Searle, Saft Group CEO and Thomas Alcide, Saft America president, symbolically dug up the turf on the 11-acre site. "I am very happy to announce that our latest facility is now under construction. Saft needs this additional capacity for advanced lithium-ion batteries to address our customers' needs in the very near future. The demand for high-performance, new technology batteries from trusted manufacturers like Saft is increasing rapidly, particularly in emerging applications for energy storage," said John Searle.
"I am honored to join in welcoming Saft's Li-ion battery manufacturing facility to the Cecil Commerce Center, which underscores that this is a good place to do business. In addition, as a member of the Renewable Energy and Energy Efficiency Caucus, I recognize the contributions of these advanced rechargeable batteries in meeting our energy needs," said Representative Cliff Stearns.
"Jacksonville is delighted to begin breaking ground on such an important facility for our community and our nation," said Jacksonville Mayor John Peyton. "Saft America's presence at Cecil Commerce Center portends great things about our city's future and we look forward to many years of continued partnership."
The new Saft facility will have a capacity of $300 million in annual sales when it is completed next year. Saft has contracted the Haskell Company to provide the design-build services for this project.
Saft has benefitted from a $95.5 million grant from the Department of Energy for this facility under the American Recovery and Reinvestment Act, as well as incentives from the state of Florida and from the city of Jacksonville.
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Peterborough Distribution sold to Hydro One for $105 million.
PETERBOROUGH - The City of Peterborough said Wednesday it has agreed to sell Peterborough Distribution Inc. to Hydro One for $105 million.
The deal requires the approval of the Ontario Energy Board.
According to the city, the deal includes a one per cent distribution rate reduction and a five-year freeze in distribution rates for customers, plus:
- A second five-year period with distribution rate increases limited to inflation and an earnings sharing mechanism to offset rates in year 11 and onward
- Protections for PDI employees with employees receiving employment offers to move to Hydro One
- A sale price of $105 million
- An agreement to develop a regional…
