$9.1 Million Grant Agreement Signed!

The $9.1 million grant agreement has been signed by the U.S. Department of Energy (DoE) today.
The grant represents 50% of the funding for the $18 million project SBE inc. has undertaken to expand its capacity to manufacture the Power Ring capacitors for the plugin hybrid and electric drive vehicle market, under the U.S. Department of Energy’s Electrical Drive Vehicle Battery and Component Manufacturing Initiative, part of President Obama’s American Recovery and Reinvestment Act.
Following the initial announcement of the grant last August, we have already started hiring people, designed the plant and identified key equipment. We are now ready to purchase equipment which will provide us with immediate additional capacity.