Momentum Dynamics Wins $95,000 Grant from CA Energy Commission for Wireless Electric Vehicle Recharging System

MALVERN, Pa., Nov. 2, 2010 /PRNewswire/ -- Momentum Dynamics Corporation, a clean tech company, announces that it has been awarded a grant valued at $95,000 from the CA Energy Commission, Energy Innovations Small Grant Transportation Program.  The grant will pay for the prototype ground and vehicle components that will be installed in a rental car courtesy minibus in a beta test program at Los Angeles International (LAX) airport.

Momentum Dynamics (www.MomentumDynamics.com) is developing a unique and proprietary technology system that will permit electrically powered vehicles to be recharged without the use of a wire.  Andy Daga, CEO and Principal Founder, commented, "We are thrilled to be a recipient of this grant. Every major automaker is committed to bringing electric vehicles to market and commercial and fleet vehicle owners as well as passenger vehicle owners will profit greatly from the change from gasoline to electric."

The company's technology consists of an integrated suite of hardware and software that can be operated with any type of vehicle. It does not require a conductor to connect the vehicle to the power grid.  Mr. Daga added, "It is far more convenient and safer than plug-in chargers and can be operated in any weather and without supervision so that charging is automatic. We are talking to rental car agencies in California and of course would welcome the opportunity to work with an airport rental car agency here in Philadelphia as well."

Most of the world's automakers, as well as commercial-duty vehicle manufacturers, are on the verge of mass-marketing electric vehicles.  Momentum Dynamics aims to capture a significant fraction of the emerging market for the charging technology that will be required to power these electric vehicles.  Battery Electric (BEV) and Plug-in Hybrid (PHEV) vehicles promise remarkably lower operating costs, a quieter ride, and reduced emissions (no emissions from BEVs).  According to Pike Research, the number of electric automobiles sold around the world will exceed 3 million by 2015.  However, the fastest adoption of electric vehicles may be in the commercial market space where operators of large continuous-duty vehicles are looking at the prospect of dramatically reduced fuel costs.

SOURCE Momentum Dynamics Corporation