BNET Industries

Electro Energy Inc.

(EEEI) is in the Manufacturing Industry

Market Cap:$683.3K
Last Fiscal Year Sales:$3.6M
  • Public
  • US
Dow Jones Description

Electro Energy is a leading supplier of advanced rechargeable batteries in North America, as well as the only domestic high-volume manufacturer of cylindrical rechargeable Li-Ion cells. Batteries have become an increasingly critical component in every sector of the economy. For example: - Consumer mobile technology is increasingly dependent on lighter, longer-lasting, safer batteries. - "Green" transportation initiatives, from personal transportation to municipal fleets, are seeking advanced energy storage solutions to reduce fuel consumption and pollution. These initiatives include hybrid electric vehicles (HEV) and plug-in electric hybrid vehicles (PHEV). - The utility industry, faced with increasing demands on power, is looking for energy storage solutions for backup (e.g., UPS and auxiliary power supplies) and to even out energy usage across the grid (e.g., peak shaving and load leveling). - Aerospace and military applications have always relied on battery power, and continue to search for advancements in energy storage to lighten loads and extend mission life. Only Electro Energy offers its customers a domestically produced range of advanced batteries and energy storage solutions spanning multiple chemistries (including NiMH, Li-Ion, and NiCd) and cell structures (including cylindrical, prismatic, and the company's revolutionary bipolar technology). ...

Director, President & Chief Executive Officer
Michael E. Reed
Number of Employees 53
Contact Information

30 Shelter Rock Rd

Danbury, Connecticut 06810

www.electroener...

(203) 797-2699

NAICS Code All Other Miscellaneous Electrical Equipment and Component Manufacturing: 335999

News & Analysis

electro energy inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Michael E. Reed Director, President & Chief Executive Officer
Rolan C. Farmer Manager, Operations
Chris Jaeger
Tom Albaugh
Farhad Assari Director
William B Wylam Director

Board of Directors

Name (plus bio) Position
Martin G. Klein Founder, Member of the Board of Directors and Chief Technologist
Bruce Lev Chairman of the Board of Directors
Joseph Engelberger Member of the Board of Directors
Lawrence G. Schafran Member of the Board of Directors
P Hamlen Robert Board of Directors
Robert Hamlen Member of the Board of Directors
Warren D. Bagatelle Member of the Board of Directors

Organization Position Status
Electro Energy Inc. Director, President & Chief Executive Officer Current
Electro Energy Inc. President and Chief Executive Officer, Member of the Board of Directors Current
EEI Corporation President and Chief Operating Officer Former
Environmental Enterprises Inc. President Former
Eagle Picher Horizon Batteries, LLC Chief Operating Officer Former
Johnson Controls, Inc. expatriate General Manager Former
Pearle Vision, Inc. Former
Indiana University M.B.A. Former
Purdue University Bsche In Chemical Engineering Former

Marty Klein has over 40 years experience in the advanced battery field. He founded EEI in '92 to develop and commercialize a concept for bipolar nickel-metal hydride batteries. In 1970, Marty co-founded Energy Research Corporation (now Fuel Cell Energy) and served as Executive Vice President through 1990, and Director through 1992. During his tenure at ERC, the company grew from a start-up to a publicly traded company with 140 employees and sales of $13 million per year and became internationally recognized for the R&D of advanced batteries and fuel cells. Marty directed all battery activities and was responsible for project management, international licenses and joint ventures covering silver-zinc, nickel-zinc, nickel-cadmium, nickel-hydrogen, silver-hydrogen, zinc-oxygen, and zinc-bromine rechargeable batteries. Prior to ERC, Marty held positions in the battery field at U.S. Army Signal Corps, Yardney Electric Corp., Electrochemical Corp., and Electro Optical Systems. He has served as a visiting scholar at Rutgers University and as a volunteer member of the Rutgers Battery and Electrochemical Engineering Laboratory. He has authored and coauthored numerous papers, articles and reports and has contributed to three books on battery technology. He is an inventor/co-inventor of 15 U.S. patents and ten foreign patents in the field of advanced electrochemical systems.

Organization Position Status
Hasz Studios LLC Founder, Chairman and CEO Current
Electro Energy Inc. Founder, Member of the Board of Directors and Chief Technologist Current
Electro Energy Inc. Chairman & CEO Former
Electro Energy Inc. Owner Former
Rutgers University visiting scholar Former
Electrochemical.Com Former
Electro-Optical Systems, Inc. Former
FuelCell Energy, Inc. Former
Energy Research Company Former
Environmental Enterprises Inc. Former

Organization Position Status
Electro Energy Inc. Manager, Operations Current

Organization Position Status
Electro Energy Inc. Current

Organization Position Status
Electro Energy Inc. Current

Bruce L. Lev has served as a director since June 5, 2007. Mr. Lev is a Managing Director of Loeb Partners Corp., New York City. Prior thereto he was Vice Chairman and a Director of USCO Logistics, a world leader in providing integrated logistics services. From 1995 through early 2000 Mr. Lev was Executive Vice President of Corporate and Legal Affairs of Micro Warehouse Inc., a $2.5 billion direct marketer of brand name personal computers and accessories to commercial and consumer markets. He also served on the Micro Warehouse four-person Executive Committee with global responsibility for legal and regulatory affairs, human resources, corporate communications, risk management and facilities. From 1995 through 2002 he was also a member of the Board of Directors of the Roper Organization and served on the Board of the Direct Marketing Association. Prior to 1995, Mr. Lev engaged in the private practice of law. During this time he was instrumental in the acquisition of USCO Logistics division of Uniroyal by a group of private investors and the initial formation of Micro Warehouse. He is a 1965 graduate of Wesleyan University and a 1968 graduate of the University of Virginia School of Law. Mr. Lev is a member of the Connecticut, Virginia and Supreme Court bars and serves on the boards of directors of AirDat, LLC, Flagler Construction Co, LLC, and Open Labs, LLC.

Organization Position Status
Loeb Partners Corporation Managing Director Current
Electro Energy Inc. Chairman of the Board of Directors Current
Open Labs, Inc. Board of Directors Current
Airdat LLC Board of Directors Current
Electro Energy Inc. Member, Board of Directors (Nominee) Current
Direct Marketing Association Board of Directors Former
Wesleyan University Former

Organization Position Status
Electro Energy Inc. Director Current
Wharton Graduate School of the University of Pennsylvania Masters of Business Administration Former
New York University Bachelor of Science Former

Organization Position Status
Electro Energy Inc. Member of the Board of Directors Current
Helpmate, Inc. CEO Former
Cardinal Health, Inc. Former
Columbia University MS Degrees Former
Columbia University BS Former

Lawrence G. Schafran , a Director since December 2006, has extensive experience in the financial markets and corporate governance and is a member of the Board of Directors of several other publicly-traded companies. Mr. Schafran currently is a Managing Director of Providence Capital, Inc., a private New York City based activist investment firm, and a Co-Managing Partner of Providence Recovery Partners LLC, which manages a New York based investment fund. He has filled these positions since July 2003 and March 2003, respectively. From 1999 through 2002, Mr. Schafran served as Trustee, Chairman/Interim-CEO/President and Co- Liquidating Trustee of the Special Liquidating Trust of Banyan Strategic Realty Trust. He also currently serves in the following roles: Director and Audit Committee Chairman of RemoteMDx, Inc., Tarragon Corporation, and PubliCARD, Inc.; Director and Audit Committee member of Nat'l Patent Development Corp. and Electro-Energy Inc. In recent years, Mr. Schafran has served in other capacities, including as a Director of COMSAT, Inc. and Shoppers Food Warehouse, Inc., and Chairman of the Executive Committees of Dart Group Corporation and its publicly traded subsidiaries.

Organization Position Status
Providence Capital, Inc Managing Director Current
Shoppers Food Warehouse Trustee Current
The Dart Group Trustee Current
COMSAT Corporation Trustee Current
New Frontier Energy, Inc. Director Current
Glasstech Inc. Director Current
Electro Energy Inc. Member of the Board of Directors Current
Remote Mdx, Inc. Board of Directors Current
PubliCard, Inc. Director Current
National Patent Development Corp Board of Directors Current
Sulphco, Inc. Board of Directors Current
PubliCard, Inc. Audit Committee Chairman Former
The Dart Group Chairman Former
The Dart Group Director Former

Organization Position Status
Electro Energy Inc. Board of Directors Current

Organization Position Status
Electro Energy Inc. Member of the Board of Directors Current
Corporate Governance Chairman Former
Lafayette College B.S. Former
Harvard Business School Advanced Management Program Former

Mr. Bagatelle has served as a Director since 2004. He is currently Chairman of the Audit and Finance Committee and a member of the Corporate Governance and Nominating Committee. He has been a Managing Director of Loeb Partners Corporation, an investment banking firm, and a director of Full Cell Energy, Inc. (Nasdaq: FCEL), a world leader in the development of high temperature hydrogen fuel cells for clean electric power generation, since 1988. Mr. Bagatelle is also the Chairman of the Board of VirtualScopics, Inc. (Nasdaq: VSCP), a medical imaging and technology services company.

Organization Position Status
Loeb Partners Corporation Managing Director Current
FuelCell Energy, Inc. Director Current
Electro Energy Inc. Member of the Board of Directors Current
VirtualScopics, Inc. Chairman Former
Rutgers University M.B.A. Former

Dr. William Wylam retired in 2005 as Corporate Director of Technology, Remy International, Inc. Remy International is a leading worldwide manufacturer of automotive electrical and powertrain products for conventional and hybrid powertrains. International Energy is a global consulting company specializing in energy for transportation.

Organization Position Status
Electricore Inc Chairman Current
Flagship Enterprise Center Director Current
Electro Energy Inc. Director Current
Xtreme Alternative Defense Systems Board of Directors Current
Society of Automotive Engineers, Inc. Board of Directors Current
International Energy, Inc. President Former
International Manufacturing Inc. Chief Engineer Former
Electricore Inc Founder Former
Remy International, Inc. Corporate Director of Technology Former
International Manufacturing Inc. Director of Technology Development Delco Remy Division Former
Purdue University Degree In Materials Science Engineering Former
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     EEEI $0.11 0.00 (0.00% )
Average Volume 6,087
Shares Outstanding 6.14M
Market Cap 675.1K
Year High 0.3
Year Low 0.01
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
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