[UPDATED] Indy Power Systems to Unveil Hybrid Technology

Tolen says the company is also working to find additional uses for the technology outside the auto industry.

He says a study by the Indiana Economic Development Corporation shows the vehicle battery market could be worth up to $1 billion by 2011 and $2 billion by 2015.

Tolen made the comments on Inside Indiana Business with Gerry Dick.

Source: Inside INdiana Business

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Press Release

Orginally posted April 22, 2009

Noblesville, Ind. -- Officials at an Indiana firm will demonstrate technology that could improve the efficiency and reduce the cost of the most expensive components of electric-powered vehicles, making them more affordable.

Indy Power Systems, a Purdue Research Park affiliate company based in Noblesville, Ind., will have an open house on Monday (April 27) to demonstrate the Multi-Flex™ Energy Management System, which improves the cost efficiency of hybrid and electric vehicle batteries.

The technology uses hardware and software to combine energy from different types of power sources - including lead-acid batteries, lithium-ion batteries and fuel cells - to optimize their price and performance characteristics.

"This demonstration will use a 55-volt lithium-ion battery pack, a 48-volt lead-acid battery pack and an AC motor/generator," said Steve Tolen, president and CEO of Indy Power Systems. "The Multi-Flex™ will operate a golf cart equipped with voltage and amperage readouts for each component to validate the movement of energy."

Other applications of the system include an alternative energy grid and handheld and military electrical devices.

The open house begins at 2 p.m. at 15309 Stony Creek Way in Noblesville. The demonstration begins at 2:30 p.m. Company officials will talk about the past, present and future of electric propulsion and its importance to both the state and national economy.

*About Indy Power Systems*

Created in 2007, Indy Power Systems has developed the Multi-Flex Energy Management Systems, a proprietary hardware and software energy management system that is used in the management of electrical power in the transportation, electrical device and electric utility grid industries. Director Bill Wylam retired from General Motors, where he was responsible for the development of the propulsion system for the GM EV1 electric vehicle and for the development of advanced lead-acid, nickel-zinc and lithium-ion battery systems. COO Bob Galyen developed the battery pack for the EV1. Senior Electrical Engineer Quentin Kramer served for a time as chief electrical engineer for the award-winning Rose-Hulman Solar Phantom VI.

*About Purdue Research Park*

The 725-acre Purdue Research Park (http://www.purdueresearchpark.com) has the largest university-affiliated business incubation complex in the country. The park is home to more than 160 companies. About 100 of these firms are technology-related and another 39 are incubator businesses. The park is owned and managed by the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development. In addition to the Purdue Research Park in West Lafayette, the foundation has established technology parks in other locations around Indiana including Merrillville, New Albany and Indianapolis.

Source: Purdue Research Park