Energy Power Systems, LLC (EPS), a Michigan-based advanced battery technology company, announced it is establishing a high-volume manufacturing facility in Pontiac, Michigan, creating more than 300 new high-tech and manufacturing jobs during the initial production phase.
The company is leasing 150,000 square feet of the former General Motors Pontiac Centerpoint Central building from Industrial Realty Group (IRG), which purchased the property from RACER Trust.
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.
The 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.
"The EPS team has successfully completed the product development phase and we are now launching the commercialization phase," said Subhash Dhar, Founder, Chairman and 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."
EPS was recently recognized as the 2014 Emerging Company of the Year by the Michigan Energy Innovation Business Council.
The 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.
"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 and 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."
"RACER congratulates EPS on its decision to locate at the Pontiac Central facility," said Elliott P. Laws, of EPLET, LLC, Administrative Trustee of RACER Trust. "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 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.
"This is great news for Pontiac, Oakland County and the State of Michigan," Oakland County Executive L. Brooks Patterson said.
"The City of Pontiac welcomes Energy Power Systems," Pontiac City Administrator Joseph M. Sobota said. "The use of the property is a perfect fit for the area. We also thank IRG for working so quickly to attract a tenant after acquiring the property last month."
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.
About Energy Power Systems, LLC
Founded in 2011, Energy Power Systems, LLC is a Metro Detroit-based company that offers low-cost, long-life and high-powered batteries for grid-connected, commercial, industrial and automotive applications. Its revolutionary Planar Layered Matrix™ (PLM) technology results in high performance and low-cost battery solutions for applications requiring high power and long life cycles. With sales offices located in Michigan, the Middle East and Japan, EPS is led by top industry innovators. For more information, please visit http://www.energypowersystems.com.
About Industrial Realty Group, LLC (& IRG Realty Advisors) and Industrial Commercial Properties, LLC
Developers Stuart Lichter (IRG) and Chris Semarjian (ICP) partner on national and regional projects and specialize in the acquisition, development and management of commercial and industrial real estate throughout the United States. Their unique business model allows this team to purchase underutilized corporate assets, readapt and repurpose the property for new business development. Their impressive portfolio spans more than 80 million square feet and has a well-earned national reputation as a leader in adaptive reuse of commercial and industrial real estate. For more information, please visit www.industrialrealtygroup.com and http://www.icpllc.com.