Advanced Battery Weekly Summary: th For the March 6 issue of NAATBatt’s Advanced Battery Weekly, we highlight recent sector activities. The NAATBatt and U.S. Indices were relatively flat w/w, while the Asia Index was up 3.9% w/w. The Russell 2000 and S&P 500 Indices were both relatively flat w/w. Executive Director James Greenberger calls for reform of the U.S. Department of Energy’s Section 1703 Loan Guarantee Program in order to include the guarantee of warranty obligations of advanced battery manufacturers selling into the ESS market. Read “Section 1703 Guarantees Should Focus on Battery Performance Warranty Obligations” in the Executive Director's Notes section of the newsletter below. Check out our Members’ Press Releases section after the Key Highlights and our Advertisements section at the end of the newsletter. Key Highlights: Policy makers in Beijing are considering a pricing scheme where electric vehicle (EV) owners could enjoy cheaper or free parking. In its 2015 plan to improve the city's air quality, the local government has set 84 goals such as ensuring that 70% of new buses will be electrically powered. Dow, through an affiliate of The Dow Chemical Company, has announced its collaboration with Norwegian firm NEST (New Energy Storage Technology) AS on a Thermal Energy Storage (TES) pilot project in Abu Dhabi. The project, to be undertaken at Masdar’s 'Beam Down' Concentrated Solar Power (CSP) installation in Masdar City, will seek to study the feasibility and benefits of a novel TES system developed by NEST. Samsung SDI is expected to provide battery packs for BMW’s upcoming X5 plug-in hybrid SUV. An earlier agreement between the two organizations, suggests Samsung will be increasing its shipments to BMW by at least 20% until 2016. RedFlow announced it has sold its first commercial large scale energy storage system in Australia to Base64 Pty Ltd. Delivery and installation is expected in June 2015. United Airlines has become the second major U.S. airline to announce it will no longer carry bulk shipments of lithium-ion (li-ion) batteries. Delta Airlines stopped bulk shipments of the batteries in February, while American Airlines had earlier stopped accepting some shipments. The EU-funded project GREENLION has developed components, chemical technologies and manufacturing processes for cheaper li-ion batteries. The innovations, including component development and the automation of manufacturing processes could cut costs by 15% for a whole battery pack. Lightning Hybrids announced an agreement with Kiessling Transit to supply 35 hydraulic hybrid systems. Kiessling Transit’s vehicles, featuring 2015 and 2016 model year Ford E450 chassis and Elkhart Coach bodies, will have the Lightning Hybrids patented parallel hybrid system installed prior to delivery this summer. Raytheon, the U.S. Department of Energy's National Renewable Energy Laboratory (NREL), Primus Power and Advanced Energy have demonstrated an advanced microgrid system capable of islanded (off-grid) operation using stored and high penetration renewable © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly energy. The testing effort, conducted at NREL's Energy Systems Integration Facility, incorporated Primus Power'sEnergyPod® 706kVA powertrain, two AE 100kW solar inverters and Raytheon's Intelligent Power and Energy Management (IPEM) Microgrid Controller. Motiv Power Systems has expanded its chassis choices with the launch of its all-electric Powertrain on the Ford F59 commercial stripped chassis. AmeriPride has selected the F59 option from Motiv for six walk-in vans to be utilized in Fresno, CA. The Roads and Transport Authority (RTA) has signed a Memorandum of Understanding (MoU) with Liberty Automobiles for a trial run of an ebus for nine months. Through signing this MoU, the two parties will be seeking to achieve a host of objectives including deploying an electricitypowered bus fitted with high-standard technical specifications to operate as part of public transport means on a trial bases. The number 312 from Norwood Junction to South Croydon is to be London’s first all electric bus (ebus) route. Transport for London (TfL) announced that Arriva had been re-awarded the contract for the route and will roll out single decker ebuses after a successful trial. Talga Resources announced it will build and commission a demonstration-scale graphene production plant in central Germany. The decision to establish the plant in Germany followed considerable interest in the company’s development by graphene technologists and end-users requiring near term large sample sizes. Sysgration has obtained orders for battery modules for use in 500 ebuses from CSR (Chinabased). The company has been transforming its focus from PC peripherals to IoT (the Internet of Things)-based smart home solutions, automotive electronics, power management solutions and cloud computing applications. Members’ Press Releases Red Flow Sale of Large Scale System http://newwebchart.weblink.com.au/news/pdf%5C01604810.pdf?ct=t(27_01_2015_RedFlow_ASX_Annou ncement_Independent_CE A Few More Details: Policy makers in Beijing are considering a pricing scheme where EV owners could enjoy cheaper or free parking. Parking rates differ from area to area in the city. For private cars, the most expensive rate is 10 yuan (US$1.6) for the first hour, and 15 yuan (US$2.4) per hour thereafter. In its 2015 plan to improve the city's air quality, the local government has set 84 goals such as ensuring that 70% of new buses will be electrically powered, and reducing the annual average concentration of PM2.5 by 5 percent of 2014 level. Source: CRI English © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly Dow, through an affiliate of The Dow Chemical Company, has announced its collaboration with Norwegian firm NEST AS on a TES pilot project in Abu Dhabi, in association with Masdar Institute of Science and Technology. The project, to be undertaken at Masdar’s 'Beam Down' CSP installation in Masdar City, will seek to study the feasibility and benefits of a novel TES system developed by NEST. TM Dow's contribution to this project will be to supply 2.6 metric tons of DOWTHERM A, a heat transfer fluid as well as provide associated technical support throughout the project. Source: The Dow Chemical Company Samsung SDI is expected to provide battery packs for BMW’s upcoming X5 plug-in hybrid SUV. An earlier agreement between the two organizations, suggests Samsung will be increasing its shipments to BMW by at least 20% until 2016. Samsung’s recent acquisition of Magna Steyr’s battery pack division could result in the company shipping li-ion batteries for not only BMW’s i3 and i8, but also for the X5 eDrive that will be released later this year. Source: Yonhap RedFlow announced it has sold its first commercial large scale energy storage system in Australia to Base64 Pty Ltd. The system is a 20ft shipping container modified to accommodate 60 ZBM3 battery modules providing up to 300kW and 660kWh of energy with a voltage output between 400V and 800V DC. Delivery and installation is expected in June 2015. Source: RedFlow United Airlines has become the second major US airline to announce it will no longer carry bulk shipments of li-ion batteries. Delta Airlines stopped bulk shipments of the batteries in February, while American Airlines had earlier stopped accepting some shipments. The announcements are based on tests conducted last month by the Federal Aviation Administration that show the li-ion batteries emit explosive gases when they overheat or short-circuit. Source: Associated Press The EU-funded project GREENLION has developed components, chemical technologies and manufacturing processes for cheaper li-ion batteries. The innovations, including component development and the automation of manufacturing processes could cut costs by 15% for a whole battery pack. The innovations include: more environmentally friendly battery materials that reduce chemical use; innovative processes (the use of aqueous slurries for electrode manufacturing) – to reduce electrode production costs and environmental pollution; and, new assembly procedures to reduce the time and cost of cell fabrication. Source: European Commission Lightning Hybrids announced an agreement with Kiessling Transit to supply 35 hydraulic hybrid systems. Kiessling Transit’s vehicles, featuring 2015 and 2016 model year Ford E450 chassis and Elkhart Coach bodies, will have the Lightning Hybrids patented parallel hybrid system installed prior to delivery this summer. The company’s system demonstrated improvements of 30% in fuel efficiency and significantly reduced NOx emissions during a year-long pilot program with the Massachusetts-based transportation company. Source: Lightning Hybrids Raytheon, the U.S. Department of Energy's NREL, Primus Power and Advanced Energy have demonstrated an advanced microgrid system capable of islanded (off-grid) operation using stored and high penetration renewable energy. The testing effort, conducted at NREL's Energy Systems Integration Facility, incorporated Primus Power'sEnergyPod® 706kVA powertrain, two AE 100kW solar inverters and Raytheon's IPEM Microgrid Controller. The demonstration proved the ability for an Energy Storage System-driven microgrid with conventional photovoltaic (PV) inverters to achieve 100% PV penetration while retaining the power quality needed to satisfy critical facility loads. © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly Source: Raytheon Motiv Power Systems has expanded its chassis choices with the launch of its all-electric Powertrain on the Ford F59 commercial stripped chassis. AmeriPride has selected the F59 option from Motiv for six walk-in vans to be utilized in Fresno, CA. The F59 has up to 100 mile range, a GVWR of 22,000 pounds, and a three year/36,000 mile warranty for both the Motiv powertrain and Ford chassis. Zero-emission trucks and buses equipped with the Motiv All-Electric Powertrain have shown a reduction of total operating costs by up to 87% compared to diesel truck. Source: Motiv Power Systems The RTA has signed a MOU with Liberty Automobiles for a trial run of an electricity-powered bus (ebus) for nine months. Through signing this MoU, the two parties will be seeking to achieve a host of objectives including deploying an electricity-powered bus fitted with high-standard technical specifications to operate as part of public transport means on a trial bases. The Public Transport Agency will designate a specific route for the bus, which will be assessed by experts and engineers from Liberty. Source: The Gulf Today The number 312 from Norwood Junction to South Croydon is to be London’s first ebus route. TfL announced that Arriva had been re-awarded the contract for the route and will roll out single decker ebuses after a successful trial. Two Optare MetroCity ebuses have been operating on the route for the last few months as a test to see whether the technology was suited to operating in an intense urban environment. Source: Croydon Advertiser Talga Resources announced it will build and commission a demonstration-scale graphene production plant in central Germany. The decision to establish the plant in Germany followed considerable interest in the company’s development by graphene technologists and end-users requiring near term large sample sizes. It is anticipated the plant will cost less than A$1 million (or $778,000) and post commissioning can scale-up to generate an approximate annual graphene output of between 100-200 tpa. Source: Talga Resources Sysgration has obtained orders for battery modules for use in 500 ebuses from China-based maker CSR, Each module is priced at CNY750,000 (US$119,590) and shipments to begin in June 2015. The company has been transforming its focus from PC peripherals to IoT (the Internet of Things)-based smart home solutions, automotive electronics, power management solutions and cloud computing applications. Source: Digitimes © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly Exhibit 1: Indices Performance (From January 7, 2013) (Indexed to 100) 300 Tesl? a Motors at 575 250 200 150 1/22/2013 2/5/2013 2/19/2013 3/5/2013 3/19/2013 4/2/2013 4/16/2013 4/30/2013 5/14/2013 5/28/2013 6/11/2013 6/25/2013 7/9/2013 7/23/2013 8/6/2013 8/20/2013 9/3/2013 9/17/2013 10/1/2013 10/15/2013 10/29/2013 11/12/2013 11/26/2013 12/10/2013 12/24/2013 1/7/2014 1/21/2014 2/4/2014 2/18/2014 3/4/2014 3/18/2014 4/1/2014 4/15/2014 4/29/2014 5/13/2014 5/27/2014 6/10/2014 6/24/2014 7/8/2014 7/22/2014 8/5/2014 8/19/2014 9/2/2014 9/16/2014 9/30/2014 10/14/2014 10/28/2014 11/11/2014 11/25/2014 12/9/2014 12/23/2014 1/6/2015 1/20/2015 2/3/2015 2/17/2015 100 NASDAQ Composite Index Russell 2000 AMEX Cleantech Index NAATBatt Index Advanced Battery U.S. Index Advanced Battery Asia Index Tesla Motors Saft Johnson Controls 50 Exhibit 2: Indices Performance Index Dow S&P 500 NASDAQ Russell 2000 AMEX Cleantech Index Close on 3/2/2015 18,288.6 2,117.4 5,008.1 1,242.6 1,327.9 52-Wk High 18,244.4 2,119.6 4,989.3 1,239.7 1,447.1 % of 52-Wk High 100.2% 99.9% 100.4% 100.2% 91.8% LTM 12.1% 14.0% 17.5% 5.8% (6.4%) Performance YTD 36.4% 44.8% 60.9% 42.3% 30.1% Week 0.9% 0.4% 1.0% 0.9% 1.4% Source: Bloomberg and ThomsonOne © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly Exhibit 3: Supplier Performance (From January 7, 2013) (Indexed to 100) 250 225 200 175 150 125 100 75 50 25 FMC Corp (Lithium Supplier) Polypore International (Separators) Russell 2000 Toray Industries Inc. (Coater supplier) 2/7/2015 1/7/2015 12/7/2014 11/7/2014 10/7/2014 9/7/2014 8/7/2014 7/7/2014 6/7/2014 5/7/2014 4/7/2014 3/7/2014 2/7/2014 1/7/2014 12/7/2013 11/7/2013 10/7/2013 9/7/2013 8/7/2013 7/7/2013 6/7/2013 5/7/2013 4/7/2013 3/7/2013 2/7/2013 1/7/2013 0 Hirano Tecseed Co. (Coater supplier) Rockwood Holdings Inc. (Lithium Supplier) Sociedad Quimica y Minera de Chile S.A. Inoue Kinzoku Kogyo Ltd. (Coater supplier) Source: Bloomberg Exhibit 4: Commodity Prices Commodity LME Copper (Cash, $ per tonne) LME Lead (cash, $ per tonne) LME Nickel (cash, $ per tonne) Price on 3/2/2015 5,895 1,725 13,875 Price on 2/23/2015 5,657 1,756 13,910 Price on 2/2/2015 5,535 1,838 15,045 1 Week Change 4.2% (1.8%) (0.3%) 1 Month Change 6.5% (6.2%) (7.8%) Source: LME © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly Exhibit 5: Natural Gas and Crude Oil (From January 3, 2013) Natural Gas (futures contract) Brent Crude Oil (spot price) (Indexed to 100) 200 150 100 50 3/3/2015 2/3/2015 1/3/2015 12/3/2014 11/3/2014 10/3/2014 9/3/2014 8/3/2014 7/3/2014 6/3/2014 5/3/2014 4/3/2014 3/3/2014 2/3/2014 1/3/2014 12/3/2013 11/3/2013 10/3/2013 9/3/2013 8/3/2013 7/3/2013 6/3/2013 5/3/2013 4/3/2013 3/3/2013 2/3/2013 1/3/2013 0 Source: EIA © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly Executive Director’s Notes SECTION 1703 GUARANTEES SHOULD FOCUS ON BATTERY PERFORMANCE WARRANTY OBLIGATIONS Last July, NAATBatt International hosted a webinar on the U.S. Department of Energy’s loan guarantee program, authorized under Section 1703 of Title XVII of the Energy Policy Act of 2005. Under the program, the DOE can make up to $4 billion of loan guarantees available to developers of projects that, among other things, use new technology to produce or facilitate the production of renewable energy. The impetus for the webinar was the DOE’s designation of “advanced grid integration and storage” as one of five areas of special focus of the loan guarantee program. During the webinar, one of the concerns raised about the loan guarantee program was that its design was better suited to facilitating the financing of large, single megaprojects, such as a wind farm or a bio-fuel refinery, rather than multiple smaller deployments of energy storage technology supporting, for example, distributed solar energy generation. More than six months after the webinar, the concern raised about the suitability of the Section 1703 program for supporting storage technology seems to have been validated. The DOE has not issued a single loan guaranty in support of a distributed energy storage project anywhere. But the need for DOE guarantees to support the commercialization of new energy storage technology is real. Using advanced batteries to provide ancillary services on the grid is still in its infancy. Few, if any, major financial institutions are willing to accept the technology risk that an advanced battery will reliably perform its function on the grid for ten or more years, since no advanced battery has ever been deployed on the grid for such a length of time. This is exactly the problem that Section 1703 of the Energy Policy Act is supposed to address. A close read of the Energy Policy Acts indicates that, though the DOE has confined the use of Section 1703 guarantees to guarantying the loan indebtedness of large megaprojects, the Energy Policy Act empowers the DOE to issue guarantees in forms that would be much more suitable, and much more helpful, to the development of distributed renewable generation and distributed storage. Section 1701 of the Act specifically defines an obligation that can the DOE can guarantee as including a “loan or other debt obligation…”. Those “other debt obligations” would include manufacturers’ warrantee obligations as to the performance of their batteries on the grid or behind the meter over time. The United States electricity grid is evolving in a way that would have seemed far-fetched just a few years ago. Distributed generation, enabled by the rapidly falling price of solar PV systems and the rising costs of maintaining many centrally located generation assets, is going to account for a major portion of the power used on the grid. Electricity storage technology will be essential to facilitating the transformation of © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly the U.S. electricity grid from one based on centralized generation to one in which distributed renewable generation plays an important, if not eventually a leading, role. The DOE’s current approach to Section 1703 loan guarantees of large megaprojects is a relic of an electricity system based on centrally generated electricity. That was yesterday’s grid. The Section 1703 guarantee program should be reformed to support the new technologies that will enable the grid of the future—one in which smaller, distributed projects relying on technologies that are still relatively new and unproven today will play a major role. One approach would be to use Section 1703 authority to guarantee the performance warranties of advanced battery manufacturers whose systems are deployed in support of distributed, renewable energy projects on the grid or behind the meter. Those guarantees might initially be confined to warrantying the performance lithium-ion batteries that comply with certain standards, are manufactured in a certain way, and are operated within certain specified parameters. Industry already knows, by extrapolation, what those standards and parameters need to be. The problem is that for the financial markets, and for many potential customers, extrapolated data is not good enough. Financiers and customers want to see actual data—data that, by definition, will not be available for many years. Addressing this problem is exactly what Section 1703 is supposed to do. NAATBatt International respectfully calls on the DOE to start thinking outside the megaproject box and to address the needs of the emerging technologies that will make distributed, renewable energy generation an important part of the United States’ energy future. A good way to do that is to use Section 1703 guarantees to backstop the performance warranties of qualified advanced battery manufacturers that deploy systems in support of distributed, renewable energy generation. James J. Greenberger Executive Director March 6, 2015 © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly NAATBatt International Membership Applications for 2015 _________________ Membership Applications and Dues Structure NAATBatt International is accepting applications for membership from companies engaged in the business or applications of advanced electrochemical energy storage technology. Annual membership dues for 2015 are $7,500 for Platinum Members, $5,000 for Gold Members $2,500 for Silver Members, $1,000 for Research Institution/Government Members, and $500 for individual scientists and researchers. Affiliates of Platinum Member companies may join as Silver Members for the special price of $1,000 per year. Applicants may choose their level of membership based on their desired participation in NAATBatt International. Membership runs for 12 months from the month in which an application is accepted. For details about our membership structure, including a list of the benefits of each class of membership, and a membership application, please click here. Why Join NAATBatt International? NAATBatt International is a not-for-profit trade association of companies, associations and research institutions commercializing advanced electrochemical energy storage technology for emerging, high tech applications worldwide. Our mission is to promote the commercial interests of our members by supporting developments in the science of and markets for advanced electrochemical energy storage technology consistent with the goals of enhancing energy efficiency, reducing petroleum dependence and enabling carbon-free electricity generation. Our members include advanced battery, ultracapacitor and electrode manufacturers, energy materials suppliers, vehicle makers, electric utilities, equipment vendors, service providers, universities and other research institutions. We are a membership-based organization focused on delivering the following benefits to our members: Strategic market intelligence Access to new and emerging electrochemical energy storage technology Networking and building name recognition within the industry NAATBatt International conducts multiple programs for its members over the course of the year. One of our most popular programs is our Members’ Site Visit meetings. At these meetings, one NAATBatt member hosts all other members for a tour of the hosting member’s business and production facilities. These tours give participants an unprecedented opportunity to learn about the needs and capabilities of individual member firms. Past hosts of these programs include General Motors, Cabot, EaglePicher, Duke Energy, EnerDel, Cabot Corporation, S&C Electric, Magna Steyr, DNV-GL, Grafoid and HydroQuebec. These programs are open to NAATBatt members only. NAATBatt members also get exclusive information about new products and new opportunities in the market. Each year, NAATBatt runs an Energy Storage Innovation Summit in conjunction with our annual meeting and conference. At the meeting, 20 jury selected emerging companies developing market-ready energy storage-related technologies make presentations directed to companies looking for licensing and acquisition opportunities. The Summit is the culmination of an industry-wide survey and solicitation for © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly new technologies. NAATBatt members have the exclusive opportunity to participate in the selection process and get a first look at these new technologies. NAATBatt members have access to ABC PatentEdge™, a database of patents and patent applications covering advanced batteries and ultracapacitors developed by NAATBatt in cooperation with the research firm IP Overviews. The database, and the quarterly reports summarizing developments in the database, provide NAATBatt members with deep insight into where advanced battery and capacitor technology is going and where the major players in that market are really making their R&D bets. NAATBatt, as the only international trade association focused on advanced electrochemical energy storage, is a frequent resource for companies looking for products or services involving advanced battery technology. NAATBatt routinely receives inquiries for products and services, which NAATBatt forwards, exclusively, to NAATBatt member firms. For example, NAATBatt recently received and transmitted to its members a solicitation for batteries from a California municipality looking to electrify its bus fleet. This inquiry was transmitted to NAATBatt members well before non-NAATBatt members learned of the opportunity. If you think that NAATBatt membership costs money, think about what not being a member costs. NAATBatt is the pre-eminent networking organization for professionals and companies working in the advanced battery industry. NAATBatt believes that good business relationships are founded on good personal relationships. From our members-only networking dinners, to our Advanced Battery Golf and Tennis tournament, to our annual meetings held at four and five-star resorts, we are dedicated to ensuring the development of strong personal and social relationships among professionals working in the industry. NAATBatt membership is meant to be fun, but it is fun with a serious purpose: Helping our members build bigger and more profitable businesses. NAATBatt is a not-for-profit trade association qualified under Section 501(c)(6) of the Internal Revenue Code and works for the benefit of the entire advanced battery and ultracapacitor industry. Every dollar spent on NAATBatt memberships and programs goes to recouping program costs and to supporting activities intended to benefit the entire advanced battery industry. At a time when it seems that the only people making money on lithium-ion technology are professional conference organizers, the advanced battery industry needs to take control of its own market and its own future. Electrochemical energy storage is the most important technology challenge of our time. Solving the problem of how to store more electricity in a smaller mass is fundamental to progress in vehicle technology, the Smart Grid, robotics, consumer electronics, unmanned aviation, fuel efficient maritime systems, electricity-based weapons systems, medical devices, monitoring systems and many of the other technologies that will shape human society in the 21st Century. Join us in our mission. We are helping to store the energy that will power the world.™ © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly Contact Information: NAATBatt International 122 South Michigan Avenue, Suite 1700 Chicago, Illinois 60603 (312) 588-0477 www.naatbatt.org Officers Steve Vechy Chairman [email protected] Zak Kuznar President [email protected] Davion Hill President-Elect [email protected] Randy Moore Chairman Emeritus [email protected] Ralph Brodd Chief Technology Officer [email protected] Rayna Handelman Director of Development [email protected] Dan Cass Vice President [email protected] Sandy Kane Chief Financial Officer [email protected] Michael Lew Head of Communications [email protected] Jim Greenberger Executive Director [email protected] © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10 Advanced Battery Weekly © 2015 NAATBatt International • Advanced Battery Weekly • All Rights Reserved March 6, 2015 Vol. 6 No. 10
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