Danish battery system developer attracts new investors

Danish battery system developer attracts new investors
New funding will spark commercial expansion

Paul Buckley
Power Management DesignLine Europe
01/23/2009 6:27 PM

Winchester, UK - One of Northern Europe's leading energy groups, DONG Energy has joined a group of investors backing Lithium Balance A/S, a Copenhagen-based developer, producer and marketer of battery systems and marks the first time that DONG Energy has invested in Danish-developed battery technology.

Having secured the new investment Lithium Balance is initiating a commercial expansion strategy that is expected to increase the battery systems company's sales to well into the millions in the coming year. The plans include the hiring of salesmen and application engineers in Denmark and in the key export markets. Product development activities will also be expanded which will require the hiring of several development engineers.

Lithium Balance's expertise focuses on the development of large battery sets based on lithium batteries. The company has developed an innovative control system for lithium batteries that can maximize their storage capacity and service life making them ideal for electric and hybrid car applications.

“You can compare it with the so-called memory effect in cell phones and laptops, that means that the battery stays charged for an ever shorter time between each recharge, until after one or two years you have to replace it. And in an electric car this would be a catastrophe. The battery pack is so big and expensive that no user will accept a gradual reduction in his driving radius or an expensive replacement,” said Lars Barkler, Admin Director at Lithium Balance. “Our Battery Management System eliminates the memory effect and gets batteries to last longer.”

Knud Pedersen, DONG Energy's Vice President Research & Development, said: “We see a great deal of potential for the use of new battery technologies in many different areas of the transport and energy sectors. Lithium Balance is an exciting high-tech company with a high degree of competence in battery control systems. DONG Energy is interested in Lithium Balance because the control system can ensure optimum interplay between the electrical system and groups of batteries, which can be used in electric cars and many other applications in the transport sector.”

“The expected increase in wind power production in Denmark will benefit our investment in Lithium Balance, because efficient use of wind power is very dependent on our ability to flexibly adapt to electricity demand according to how much wind power we have at our disposal. This effective management of charging and discharging of batteries can shift electricity consumption to night-time, when there is often ample wind power.”