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Lithium Technology Corporation (LTHU) Receives $4.7 Million Order For Hybrid Bus Application for Joint Program

Lithium Technology Corp. is a leading manufacturer in the Lithium battery market (large rechargeable). They have announced the receipt of an order for a hybrid buss application of approximately $4.7 million in a joint program with Kettering University and TransTeq.

Dr. Klause Brandt, CEO of Lithium Technology Corporation said, “LTC is very pleased to be part of this outstanding team and the technology of choice for this hybrid bus project in Michigan. Today we demonstrate our ability to supply large batteries that meet the most stringent demands and that are safe and reliable.”

As an alternative to the current diesel-powered buses, Mass Transportation Authority (MTA) of Flint, Michigan is developing new drive train technologies. The current hybrid buses provide approximately 20% improvement in fuel efficiency in the heavy-duty transit applications. Transteq’s technology also incorporates an enhanced set of control systems and more efficient components to provide an additional improvement of 15 to 20 percent. This seems to be equal to an overall improvement of up to 40 percent over standard diesel powered vehicles.

What is particularly important in select areas of cities where combustion engines are not or will not be allowed in the future and due to TransTeq’s patented control configuration, this bus also has the capability to operate in a zero emission mode and run its route through the sensitive part of the city while running on energy from the batteries alone, then later turns on its engine and generator once it leaves the area.

Professor Mohamed El Sayed of Kettering University (formerly General Motors Institute) will head the hybrid bus program. The MTA will provide the vehicles and facilities for carrying out the technology demonstration. The production and integration of vehicles will be done by TransTeq and based on progress milestones. Later in stages, discussions will be held between Kettering University (Michigan based GR Investment group and TransTeq’s parent company), and LTC for the production of the batteries in the State of Michigan. This will also create significant high-tech job opportunities within the state of Michigan.

Professor El Sayed said, “We went to great lengths to find the right partner and the right battery technology, and we believe we found these qualities within LTC. This project is not only important to all the partners that participate, but most importantly to the health of all the inhabitants of large cities and health of our planet.”

Dr. Brandt stated, “This project is part of our marketing efforts in the transportation market. Buses and trucks represent a huge market opportunity for us, and significant stepping stone into the consumer vehicle market. Currently, we have several programs running in this market, of which this one is one of them.”

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