Revolt Technology, a company which has developed a rechargeable zinc-air battery, has announced it has been approved for a package of loans and tax credits from the authorities in the state of Oregon and city of Portland in the U.S.
The loans and tax crediits total USD 6.8 million, including support from the Oregon Department of Energy’s Small Scale Energy Loan Program (SELP), which is intended to promote energy conservation and renewable energy resource development. Upon final closing, the SELP funding and incentives will further enhance ReVolt’s esearch and development work in a public-private partnership producing cutting-edge battery systems for electric vehicles.
ReVolt has selected a site in Portland’s Airport Way Urban Renewal Area, at 12021 NE Airport Way, Suite G, to serve as its headquarters and expects to begin battery development and HQ operations there in October, generating approximately 150 jobs between 2010 and 2015.
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