Ann Dwyer On Entrepreneurs
Could rising gas prices boost Chicago battery-tech startup?
April 19, 2012
Last year, they began selling their material solution to companies that make battery packs for electric bikes and scooters. AllCell also signed a deal to work on battery packs with two Purdue University engineering students who are developing an electric motorcycle. That battery-powered bike is expected to reach a maximum speed of 120 mph and a range of 120 miles before it needs recharging.
In the last year, AllCell doubled its assembly plant workforce to 22 as part of a $1 million expansion project and training program. The firm received a $460,000 grant in 2011 from the Illinois Department of Commerce and Economic Opportunity that was part of the federal stimulus plan. AllCell is also buying cells from others and manufacturing its own battery packs, which are being sold in the U.S. and in Europe and Asia. Last year sales totaled less than $1 million and the company isn't profitable yet.
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