ENDICOTT, NY – A 9 year-old green technology firm with roots at Binghamton University is looking to engage the community as it moves forward with plans to develop a large-scale manufacturing facility in Endicott.
Imperium 3 New York, or iM3 for short, is a B-U incubator startup that produces lithium-ion batteries using technology developed at the university.
iM3 uses cathode technology to replace the traditional reliance on the metals cobalt and nickel which can be hard to come by and, in the case of cobalt, linked to unethical child mining practices in the Congo.
The goal is to create more affordable, larger scale batteries with a low carbon and toxic footprint for use in electric vehicles and renewable energy storage.
During a pilot phase of production, iM3 batteries have already been used by Navy suppliers in autonomous boats.
Co-founder and Chairman Shailesh Upreti says his company has been determined since the beginning to manufacture them locally.
“We had many offers from overseas companies who wanted to take this technology and license it. But we have been committed to our philosophy and our vision that we would make it happen here locally. So, that is our commitment to the industry, to the local community and to ourselves and we will stick with that philosophy,” says Upreti.
Upreti says the company is looking to start building out a large production facility on the Huron Campus beginning in the new year.
He says employment will be in the triple digits, including engineers, factory workers and support staff.
CEO Chaitanya Sharma says the goal is to have the first batteries roll off the line by January 1st, 2022 and then for many years to come.
“Setting up a factory. For a number of years, this technology is going to be the backbone of energy independence for all of the different countries. We want to start off on the right foot with the community. As Shailesh mentioned, we’ve already had several events and we hope to continue to build on that partnership,” says Sharma.
With that in mind, iM3 is holding an online community forum tomorrow evening when local residents can learn more about the project.
It is completely separate from a proposed battery recycling facility that is also being planned for Endicott.
Tomorrow’s Zoom meeting is scheduled for 6:30.
If you’d like to join you can click here with meeting ID 607-564-5656.
Questions should be submitted ahead of time here.