WASHINGTON, D.C. - U.S. Secretary of Energy Steven Chu issued a statement highlighting today's ribbon cutting event at SBE, Inc.'s new production plant in Barre, Vermont .The plant will manufacture electric vehicle direct current bus capacitors, components for next generation advanced vehicles. The facility was funded in part by a $8.5 million grant through the American Recovery and Reinvestment Act, also known as the stimulus bill
"Today's ribbon cutting puts Barre at the forefront of green innovation in America's automotive industry," said Secretary Chu. "This is another example of how Recovery Act investments are creating new clean energy jobs and revitalizing the manufacturing industry across in the U.S."
BACKGROUND INFORMATION ON TODAY'S ANNOUNCEMENT
SBE, Inc., based in Barre, Vermont, was awarded $8.5 million under the Recovery Act to build and outfit the 52,800 square foot high-volume manufacturing facility opening today. The plant will produce Direct Current (DC) Bus Capacitors for the electric drive vehicle industry. DC bus capacitors are part of the power electronics on electric drive vehicles, and serve as a critical buffer between an electric vehicle's battery and motor. The project has supported 25 jobs thus far and is expected to support 80 permanent positions in total.
Improvements in the cost and efficiency of electric drive components will help to lower the costs of the next generation of electric vehicles and help to reach President Obama's goal of having one million electric drive vehicles on U.S. roads by 2015. This project is one of 48 advanced battery and electric drive projects that were awarded $2.4 billion through the Vehicle Technologies Program under the Recovery Act.