Sept. 17 (Bloomberg) — Blue Earth Inc., a solar-power
developer and provider of energy-efficiency services, has agreed
to buy a $10 million equity stake in battery maker PowerGenix
Systems Inc. with cash and stock.
The company is gaining exclusive rights to use PowerGenix’s
technology, Henderson, Nevada-based Blue Earth said today in a
statement. The companies have worked together for about five
years.
“Our historical working relationship should allow Blue
Earth to introduce new products for certain applications fairly
quickly, while pursuing longterm development,” Blue Earth Chief
Executive Officer Johnny Thomas said.
PowerGenix, based in San Diego, develops rechargeable
nickel-zinc batteries that can be used in vehicles and for
stationary energy storage, according to its website.
To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Jim Efstathiou Jr., Tina Davis