Fluidic Energy Gets $3M Grant For Battery Research

PHOENIX (AP) -- A Scottsdale company has been awarded $3 million from the U.S. Department of Energy to develop more efficient batteries for industrial applications.

Fluidic Energy will use the money awarded on Monday to develop a new technology that it hopes with be cheap enough and have a large enough capacity to store large amounts of energy. If successful, the batteries will be hooked up to intermittent renewable energy sources such as wind and solar power plants and release energy when the plants are shut down.

The money comes from the Energy Department's Advanced Research Projects Agency-Energy.

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