EnerDel Deal Could be Profit 'Catalyst'
Indianapolis-based EnerDel Inc. has announced an agreement to supply battery technology for city buses in the nation's capital. The $19 million deal comes after months of testing the lithium-ion energy storage system in Washington D.C.'s diesel-hybrid fleet. The company says this is its largest deal of this kind to date. Chief Executive Officer Michael Canada says the agreement completes one of the company's strategic goals.
He believes the technology will help the company break-even and eventually turn to profitability.
The multi-year agreement with the Washington Metro Area Transit Authority puts EnerDel in multiple markets including Honolulu and Seattle.
Canada says its partnership with Allison Transmission helped seal the deal.
Source: Inside INdiana Business
April 28, 2015
INDIANAPOLIS, Ind. - EnerDel continues to gain traction in the diesel-hybrid fleet segment landing its largest contract to date. WMATA will quickly become the largest diesel-hybrid fleet powered by EnerDel's advanced lithium-ion technology this year. Johnson & Towers, EnerDel's authorized distributor, will perform the installation and integration services for the mid-life hybrid fleet retrofit. The adoption of this supply agreement comes several months after an extremely successful evaluation period where EnerDel's advanced lithium-ion energy storage system (ESS) operated seamlessly on Metro vehicles.
"This agreement further solidifies EnerDel as a strategic ESS solutions provider in the hybrid bus space. Partnerships with world class organizations like Johnson & Towers instantly expand our reach for service and integration," said Michael Canada, EnerDel's CEO. "Securing an agreement with WMATA was one of our strategic initiatives and it is exciting to realize that initiative in a limited amount of time."
EnerDel is a leading supplier of advanced lithium-ion batteries and ESS for heavy-duty transportation and hybrid power applications. The company's low-profile Vigor+ pack received full approval for use with the Allison Hybrid H 40/50 EP system installed in diesel-hybrid buses and is Buy American Compliant.
To request a quote or download a spec sheet for EnerDel's Vigor+ ESS, visit http://www.enerdel.com/; email Info@EnerDel.com or call (317) 703-1800. Long-term service agreements and extended warranties are available as options on most EnerDel power solutions.
About EnerDel Inc.
EnerDel Inc. is a privately-held company headquartered in Indianapolis. It manufactures advanced, lithium-ion batteries and energy storage systems for electric grid, transportation and industrial applications. The company's prismatic cell design and modular stacking architecture combine to provide customers with production-ready solutions that address their power and energy storage needs. For additional information, visit EnerDel.com.
Source: EnerDel Inc.