Led by Argonne National Laboratory, the JCESR will receive an award of $120 million over the next five years specifically for funding research, development and the commercialization of advanced battery technology. The battery and energy storage hub includes leading scientists and researchers from six national laboratories, five universities, NAATBatt members and The Battery Show 2012 exhibitors Dow Chemical Company and Applied Materials, a start-up incubator, and an advisory council of venture capital firms.
Eric Isaacs, Director of Argonne National Laboratory, outlined the ambitious Objective of Fives for the hub: to increase the energy density of batteries by five times its current amount, and to reduce the cost of batteries by five times within the next five years. Secretary of Energy, Steven Chu, indicated that if JCESR manages to achieve even just 80% of this goal, batteries will still reach a price enabling significant disruptive technology for both on-grid and automobile applications.
Secretary Chu hopes that by gathering some of the greatest minds in the industry across a range of disciplines, the hub will successfully and critically develop the new technology to meet these goals and move more rapidly towards commercialization.
JCESR succeeds over at least nine other consortia competing for the prize, including many other top universities, major companies in the industry and national laboratories, highlighting the strength of the US advanced battery sector.