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Farasis Energy was awarded a $4.1 million battery technology development contract by USABC
       May 6, 2021 – The United States Advanced Battery Consortium LLC (“USABC”) announced the award of a $4.1 million technology development contract to Farasis Energy for a low-cost/fast-charge (LC/FC) electric vehicle (EV) battery program. The program’s goal is to develop LC/FC lithium-ion batteries using advanced electrode materials, electrolyte and cell design.
       USABC is a subsidiary of the United States Council for Automotive Research LLC ("USCAR") and a cooperative organization of Fiat Chrysler, Ford Motor and General Motors. Supported by the cooperation agreement reached with the US Department of Energy (DOE), USABC's mission is to develop advanced electrochemical technologies to support the widespread commercialization of new energy vehicle applications.