Energy Power Systems Establishes Battery Manufacturing Center In Pontiac, Michigan
The company is leasing 150,000 square feet of the former General Motors Pontiac Centerpoint Central building from Industrial Realty Group, which purchased the property from RACER Trust. Pontiac Centerpoint Central campus includes a 1.2-million-square-foot office building that will be converted to a high-end industrial, multi-tenant facility. The property had been vacant since 2008.
The new facility, expected to begin commercial scale production in early 2016, will produce high-performance, low-cost and long-life batteries based upon EPS proprietary technology for use in fuel efficient start/stop and micro-hybrid vehicles; utility-scale distributed energy storage; renewable energy integration; and fast-charging infrastructure for electric propulsion vehicles.
According to the firm, its initial annual production capacity will be 500 MWh, the equivalent of 500,000 start/stop vehicle batteries. The new facility will use state-of-the-art, ultra-low emission manufacturing processes that support the company's commitment to sustainability and a clean environment.
"We are proud to welcome EPS as our first tenant to the facility and support the job creation it will bring to Pontiac," said Stuart Lichter, President/CEO of IRG, a national leader in the adaptive reuse of industrial property. "IRG's specialty is acquiring buildings in need of adaptive reuse, repositioning them and locating quality tenants. I anticipate the momentum at the property to continue and further announcements to come in the near future."
Chris Semarjian, President of Industrial Commercial Properties, LLC, and a partner of Mr. Lichter's in the transaction, said EPS, with its combination of office, research and manufacturing operations, is an ideal tenant for the facility. Referencing the condition of the property and the owners' subdivision strategy, Mr. Semarjian said, "We are confident this usage strategy takes the building and property potential to the next level of use."
"The EPS team has successfully completed the product development phase and we are now launching the commercialization phase," said Subhash Dhar, Founder/Chairman/CEO of EPS. "This major milestone is a testament to the proven performance attributes of our PLM technology, which offers a superior value proposition for our customers' applications."
Elliott P. Laws, of EPLET, LLC, Administrative Trustee of RACER Trust said. "This is an extremely positive step for citizens of Pontiac and all of Oakland County. RACER's mission is to find buyers who will invest in redevelopment and job creation. We have had a very successful relationship with IRG, and were very confident that Stuart Lichter and Chris Semarjian would move quickly to secure new businesses and opportunities for the community. We look forward to more good news as Stuart and Chris become full partners in the ongoing effort to maximize the complete potential of Pontiac Centerpoint Campus and bring new investment to the area."
EPS officials said the company has enjoyed great support from the State of Michigan, including the Legislature, the Michigan Economic Development Corporation and the Michigan Department of Environmental Quality, Oakland County; and the City of Pontiac. EPS will continue to work with these groups on various programs as it moves forward to bring high-quality jobs to Michigan.
EPS is backed by Co-founder Townsend Ventures, an international investment firm with multiple energy-related businesses in its portfolio, including XALT Energy, LLC, a high-volume, state-of-the-art lithium ion battery manufacturing company located in Midland, Michigan.
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