Revolutionizing the EV Industry: Fermi Energy’s Coal-Based Solution
In a world that is increasingly shifting towards sustainable energy solutions, the electric vehicle (EV) industry stands at the forefront of innovation. One company that is making significant strides in this arena is Fermi Energy, Inc.. This trailblazing firm is revolutionizing the U.S. battery manufacturing industry with its advanced cathode technologies, all while maintaining a commitment to economic and environmental sustainability.
Fermi Energy is not just another player in the battery game; it is a pioneer in the field. The company’s mission is clear: to power electric vehicles with locally sourced materials, including one surprising ingredient—coal. Yes, you read that right—coal, a material often associated with pollution and environmental concerns, is being repurposed for a cleaner, greener future.
Fermi Energy has received significant grant funding this year, including a $2.9 million grant from the U.S. Department of Energy and a $3.4 million award in collaboration with General Motors and other companies. These grants will support the development of batteries with coal-derived anodes, which can address environmental issues associated with coal waste and significantly reduce anode costs compared to traditional graphite anodes.
By tapping into innovative materials selection and groundbreaking processing technologies, Fermi Energy has managed to reduce cathode costs by an impressive 50%. This significant cost reduction is a game-changer in the EV industry, making electric vehicles more affordable and accessible for the masses. It’s not just a win for consumers; it’s a win for the planet.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.