Blue Bell, Pennsylvania-based electrical power storage systems maker C&D Technologies, Inc. (CHP) Monday said it received a contract from the US Army for the development of an advanced energy storage system for renewable energy applications incorporating advanced lead carbon batteries. The new contract would span an estimated three year period from June 15, 2010, with the objective of developing an energy storage system for use in grid connected systems, off-grid applications, and micro-grid environments in conjunction with the Army Renewable Energy Generation Systems.
The company said the technologies developed under the program would also be utilized in meeting the needs of C&D's commercial customers with potential application to large-scale grid-energy storage, community energy storage, and renewable energy applications, in addition to broader application in other branches of the military. The new advanced energy storage system would be developed and produced in C&D's Blue Bell and Leola, Pennsylvania facilities.
CHP is currently trading at $1.00, up $0.02 or 2.04%, on a volume of three thousand shares on the NYSE.
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