Sakti3 expands in Ann Arbor, goes after $15 million in federal funds

University of Michigan spin-off Sakti3 is really gaining momentum in the lithium-ion battery game.

Excerpt:

One of Ann Arbor's most promising start-ups is going after a lot of federal money this summer and creating a few jobs along the way.

Sakti3 is applying for $15 million of U.S. Department of Energy funds. That money will be part of a $30 million round of financing it's aiming to gather together this summer to continue its development of lithium-ion batteries for hybrid and plug-in cars, like the Chevrolet Volt. The University of Michigan spin-off is working with officials from the federal government and General Motors to secure the funding.

"We're told decisions will come down in July," says Ann Marie Sastry, founder of Sakti3 and an engineering professor at U-M.

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Sakti3 expands in Ann Arbor, goes after $15 million in federal funds

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