BINGHAMTON, NY – A new company poised to make a big splash in the global battery industry is offering local residents a behind-the-scenes look at its progress.
iM3NY is holding a virtual town hall tomorrow evening to discuss its plans for constructing a gigafactory on the Huron campus in Endicott.
Imperium 3 New York recently announced that it had acquired 75 million dollars in loans and equity investments so that it can begin producing a version of lithium-ion batteries that was invented at Binghamton University.
With the revenue in place, iM3 is busy designing and constructing its high-tech factory floor which will include large clean, dry rooms.
Chairman Shailesh Upreti, who developed the batteries while working with lithium-ion pioneer and Nobel prize winner Stan Whittingham at Binghamton University, says 3 T’s are coming together for the company simultaneously: team, technology and timing.
“We want to be the role model, not just for Endicott but the whole country and the globe, because our batteries are really, really clean and green. 85% to 90% greener than any battery out there. We’re producing those cleanest batteries right here in Endicott is going to be a proud moment for us,” says Upreti.
Upreti says iM3 New York already has 655 million dollars worth of contracts signed with buyers of the batteries which will be used to power electric vehicles, operate smart grids and store wind and solar energy.
The company moved into office space at Huron a couple months ago and the 10 person staff is expected to double in the coming weeks.
The manufacturing process is expected to begin with hundreds of employees and eventually grow to thousands in about 5 years.
Tuesday’s town hall is scheduled for 5:30 P-M.
Join by clicking here and entering meeting ID 607 564 5656