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Driving plug-in technology with investments of $2.75 million

Last June launched RechargeIT, an initiative to accelerate the adoption of plug-in electric vehicles. At that time we announced a request for investment proposals (RFP) from teams working on technologies relevant to this goal. Today we are pleased to announce our first RechargeIT investments in two promising companies tackling the challenge of vehicle electrification.

Aptera Motors
of Carlsbad, California is building an ultra-high efficiency vehicle based on improved aerodynamics and composite materials. Aptera's first prototype achieved over 230 miles per gallon during testing, and they are developing an all-electric as well as a plug-in hybrid vehicle based on this design.

ActaCell is an Austin-based company working to commercialize lithium-ion battery technology developed at the University of Texas at Austin. ActaCell's technology offers the promise of improved battery cycle life and lower costs, while maintaining a focus on battery safety, all of which are important factors in the widespread adoption of plug-in vehicles.

Both of these innovative companies and their capable teams are working to develop technology that is crucial to helping us realize the RechargeIT vision: millions of plug-in vehicles on the road.

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