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Broom said that his company now produces a total of 1.8 million cells per
month for such things as cellphones, lap-top computers and other portable
data terminals, and normally does about $100 million in business per year.
But Broom forecast that by supplying the power-tool industry E-One could
potentially double its total business in three years.
Broom said that the deal with Milwaukee means E-One will produce an extra
150,000 battery cells a month at the Maple Ridge plant, which employs 430
people. |
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"We're looking at plans to quadruple production by the end of the year. We'll
also be looking at other applications for the cell."
He said E-One now produces a total of 1.8 million cells per month for such
things as cell phones, lap top computers and other portable data terminals, and normally does about $100 million in business per year. |
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"This [the new battery] is not huge yet," he added, "but the growth potential
is huge. It has the potential to double our business in three years."
Moli Energy was incorporated in 1977 to develop a commercially viable
battery using technology from the lithium research program at the
University of B.C. |
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Broom said lithium-ion batteries haven't been modified before for a complete
line of power tools, "We're the leading edge.""Our product contains no heavy metal, such as cadmium," Alyson
Cuthbertson, E-One's manager of general affairs, said. "So, technically, it
can be disposed in your household waste, although we strongly recommend
that the product be recycled through proper channels. |
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"
According to the news release, the new battery technology allows the
company opportunities to enter markets previously served only by lead acid, nickel-cadmium or nickel-metal-hydride batteries, such as power tools,
electric bicycles and potentially electric or hybrid-electric vehicles.
Broom said the battery technology is similar to that used in laptop
computers and cell phones -- products that don't need cords and which EOne
already provides batteries for. |
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"This puts us into a brand new niche. It
helps us diversify."
He said the lithium-ion battery industry is now worth about $400 million US
per month worldwide and that about 120 million cells are produced each
month worldwide. |
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